pOpshelf | 8510 N Madison Ave
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pOpshelf 8510 N Madison Ave
10,542 SF Retail Building Kansas City, MO 64155 £2,583,907 (£245/SF) 6.50% Net Initial Yield
Investment Highlights
- Barry Towne Shopping Center | Target & Kohls Anchored | Ranks in Top 10% of Shopping Centers in the Country!
- Five Mile Population 164,089 | Expected 5% Growth
- Across from Metro North Mall Redevelopment | 106 ac of Mixed- Use Redevelopment
- 5% RENT INCREASES EVERY 5 YEARS!
- 34,661 VPD on Hwy 169 | 16,476 on NW Barry Road
- Southeast of the Future Twin Creeks Development Site | Expected 60-75K New Residents over 30 Yrs
Executive Summary
Fortis Net Lease is pleased to present this brand new 10,542 SF. pOpshelf store located in Kansas City, Missouri - part of the Barry Towne Shopping Center, anchored by Target and Kohls & performing in the top 10% of all shopping centers in the country. pOpshelf is Dollar General's newest retail store concept aimed at engaging customers with a fun, affordable and stress-free shopping experience. The property offers a 15 Year Absolute NNN Lease, leaving zero landlord responsibilities. The lease contains 5% rent increases every 5 years in the primary term. There is a 10% increase at each of the 4 (5 year) options to renew. The lease is corporately guaranteed by Dollar General Corporation which holds a credit rating of “BBB”, which is classified as Investment Grade. The store is currently under construction with a targeted opening & rent start date in September 2024.
This pOpshelf is highly visible as it is strategically positioned off of the Highway 169 exit (which sees 34,661 cars per day), on Madison Avenue, off of NW Barry Road which sees 16,476 cars per day. An outlot in Barry Towne Shopping Center, the tenant make-up includes Target, Kohls, Ollie's, ULTA Beauty, Petco, Ross Dress For Less, & Furniture Deals. Other outlots include Firestone, Chipotle, Starbucks, and Famous Footwear. The Shopping Center sits just West of the Metro North Mall Redevelopment (106 acres of mixed-use redevelopment at the site of the former Metro North Mall). Northwest of the site is the future Twin Creeks Development Site (brining 60-75K new residents over the next 30 years). The five mile population from the site is 164,089 while the one mile average household income is $79,698 per year, making this location ideal for a pOpshelf store. The Subject offering represents an ideal opportunity for a 1031 exchange buyer or a “passive” investor to attain the fee simple ownership of a pOpshelf store. List price reflects a 6.50% cap rate based on the NOI of $212,869.44.
Instate Broker of Record: Brian Brockman | Bang Realty
This pOpshelf is highly visible as it is strategically positioned off of the Highway 169 exit (which sees 34,661 cars per day), on Madison Avenue, off of NW Barry Road which sees 16,476 cars per day. An outlot in Barry Towne Shopping Center, the tenant make-up includes Target, Kohls, Ollie's, ULTA Beauty, Petco, Ross Dress For Less, & Furniture Deals. Other outlots include Firestone, Chipotle, Starbucks, and Famous Footwear. The Shopping Center sits just West of the Metro North Mall Redevelopment (106 acres of mixed-use redevelopment at the site of the former Metro North Mall). Northwest of the site is the future Twin Creeks Development Site (brining 60-75K new residents over the next 30 years). The five mile population from the site is 164,089 while the one mile average household income is $79,698 per year, making this location ideal for a pOpshelf store. The Subject offering represents an ideal opportunity for a 1031 exchange buyer or a “passive” investor to attain the fee simple ownership of a pOpshelf store. List price reflects a 6.50% cap rate based on the NOI of $212,869.44.
Instate Broker of Record: Brian Brockman | Bang Realty
Property Facts
Sale Type
Investment NNN
Property Type
Retail
Property Subtype
Retail
Building Size
10,542 SF
Building Class
C
Year Built
2024
Price
£2,583,907
Price Per SF
£245
Net Initial Yield
6.50%
NOI
£167,954
Tenancy
Single
Number of Floors
1
Building FAR
0.19
Land Acres
1.29 AC
Zoning
C-1 - Commercial
Parking
41 Spaces (3.89 Spaces per 1,000 SF Leased)
Frontage
238 ft on North Madison Avenue
Nearby Major Retailers
PROPERTY TAXES
| Parcel Number | 13-215-00-01-004-00 | Improvements Assessment | £0 |
| Land Assessment | £0 | Total Assessment | £79 |
PROPERTY TAXES
Parcel Number
13-215-00-01-004-00
Land Assessment
£0
Improvements Assessment
£0
Total Assessment
£79
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Power Broker Bryan Bender -
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pOpshelf | 8510 N Madison Ave
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