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    3266 Ny-29A Caroga Lake, NY 12032

    Sponsored
    For Sale
    $1,807,588

    High-Yield Retail Investment in NY

    Property size:
    9,250 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    391
    This exceptional investment opportunity presents a single-tenant, absolute NNN leased Dollar General store. Located at 3266 NY-29A, Caroga Lake, NY 12032, this 9,250 square foot building sits on a 2.146-acre lot and boasts a strong 6.15% cap rate. Constructed in 2020, the property features a 15.1-year lease (11 years remaining) with a credit-rated tenant. The lease commenced October 15, 2020, and expires October 31, 2035, providing long-term stability. The current annual net operating income (NOI) is $111,167, with a price per square foot of $195.41. The lease includes four 5-year options with a 10% rent increase in each. This is a corporate-guaranteed lease, eliminating landlord responsibilities. The property's strategic location at the junction of NY State Route 29A and NY State Route 10 in Fulton County, near Albany, offers excellent visibility and accessibility. The absence of significant grocery competition in the immediate area ensures consistent sales for the tenant. This is a turnkey investment ideal for passive income seekers. The asking price is $1,807,588.

    Property Features for 3266 Ny-29A

    General Information

    Property type
    Individual retail properties
    Square Feet
    9,250 SF
    Lot Size
    93,480 SF

    Building Details

    Year Built
    2020
    Buildings
    1
    Stories
    1

    HighLights

    • Investment‑grade tenant, Dollar General (S&P rating BBB).
    • Strong market position with limited grocery competition.
    • Absolute NNN lease with 15‑year initial term.
    • Four, 5‑year options with 10% rent increases each.
    • Corporate guaranteed lease; no landlord responsibilities.
    Property Profile Location Intelligence

    Current Use by Public Records

    Isalis Gift Shop Party City Party Store Skunk Funk Wholesaler Carl's Trading Co Hat Shop Bushka's Kitchen LLC Outdoor Clothing And Equipment Shop

    Suggested Use

    Restaurant Realty agency Spa & Massage Law Firm Hair Salon Nail Salon Hotel & Motel HVAC Service Bar & Pub Electrical Service

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Caroga Lake
    County
    Fulton
    State
    New York
    Longitude
    -74.4789823
    Latitude
    43.1368663

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    FAQs

    What type of property is this?
    Individual retail property - High-Yield Retail Investment in NY
    Where is this individual retail property located?
    The property is located at 3266 Ny-29A Caroga Lake, NY.
    What is the asking price?
    The asking price for this property is $1,807,588.
    What are key features of this property?
    This property features: Investment-grade tenant, Dollar General (S&P rating BBB).; Strong market position with limited grocery competition.; Absolute NNN lease with 15-year initial term.
    Request Owner's contact information
    3266 Ny-29A Caroga Lake, NY 12032
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    3266 Ny-29A Caroga Lake, NY 12032
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