Building Details

Year Built 2020

Buildings 1

Stories 1

Tenancy Single

Listing Agency: Colliers - Fort Lauderdale, Florida c***@yahoo.com Show Phone

Listed By: Christopher Twist · License #FL

Source: Crexi

Added: Jul 15, 2025 Changed: Aug 18 Last Checked: Aug 19 at 4:59AM

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Investment Insights

Based on property information with market context.

This Dollar General property is available for purchase. It is a new construction located at the junction of NY State Route 29A and NY State Route 10 in Caroga Lake, New York. The property is situated in the southern part of the Adirondack Mountains, northeast of Albany.

Key Highlights

• New construction, built in 2020
• Located in Caroga Lake, NY
• Situated in the beautiful southern Adirondack Mountains

Financial Insights

Estimated NOI and Cap Rate

NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).

NOI / Yr

$129,998

Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.

Cap Rate

8.30%

Suggested Prices Based on Cap Rates Cap rates vary significantly by property type, market, and asset quality. Typical U.S. stable-market ranges: Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+) Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand) Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically) Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher) Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk) Self-Storage — 5.5% to 7.5% Medical Office — 6.0% to 7.5% Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term Rules of thumb: Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%). Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C. Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI. Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.

Cap Rate 5%

$2,599,960 $2.6M

Cap Rate 7%

$1,857,114 $1.9M

Cap Rate 9%

$1,444,422 $1.4M

Market Conditions

NOI Build-Up for 9,250 SF Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent. EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs. OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements. NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.

Gross rent

$180.9K $19.56/SF

− Vacancy

−$7.6K −$0.82/SF

EGI

$173.3K $18.74/SF

− OpEx

−$43.3K −$4.68/SF

NOI

$130.0K $14.05/SF

Area

Fulton County, NY

Vacancy

4.20%

Lease Rate

$19.56 /SF/Yr

Expense Ratio

25.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates Cap rates vary significantly by property type, market, and asset quality. Typical U.S. stable-market ranges: Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+) Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand) Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically) Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher) Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk) Self-Storage — 5.5% to 7.5% Medical Office — 6.0% to 7.5% Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term Rules of thumb: Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%). Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C. Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI. Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.

Cap Rate 5%

$2,599,960

Cap Rate 7%

$1,857,114

Cap Rate 9%

$1,444,422

Alternative Uses

Best Use

Specialty Retail

$1.86M

$1.62M – $2.17M (±1% cap)

NOI $129,998 @ 7.0% cap · market cap 8.30%

Second Best

Retail

$1.24M

$1.09M – $1.45M (±1% cap)

NOI $87,091 @ 7.0% cap · market cap 5.56%

Theoretical Best

Multifamily LT 5

$6.39M

$5.60M – $7.46M (±1% cap)

NOI $447,629 @ 7.0% cap · market cap 28.59%

Zoning and permitted uses should be independently verified with authorities.

Property Analytics

Current Use

Grocery and convenience stores

Location Intelligence

Trade Area within ½ mile

2

Businesses Nearby

Explore this area Business Placement

Demographics for 12032, NY

834

Population

1,302

Households

0.6

Avg Household Size

53

Median Age

18%

College-Educated

91%

High-School Grad

93.6 sq mi

ZIP Area

9

Density / Sq Mi

$54,375

Median Household Income

$42,264

Median Earnings

$163,800

Median Home Value

Market

Vacancy Rate% for Retail in Northeast region

6% 2019

7.1% 2020

6.5% 2021

6% 2022

5.7% 2023

5.6% 2024

6% 2025

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Frequently Asked Questions

What type of property is this?

Grocery and convenience store - Dollar General store in Caroga Lake, NY for sale.

Where is this grocery and convenience store located?

The property is located at 3266 NY-29A Wheelerville, NY.

What is the asking price?

The asking price for this property is $1,565,727.

What are key features of this property?

This property features: New construction, built in 2020; Located in Caroga Lake, NY; Situated in the beautiful southern Adirondack Mountains