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    1936 Van Vranken Ave Schenectady, NY 12308

    For Sale
    $1,728,436

    High-yield Dollar General investment. Strong demographics.

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    370
    This exceptional investment opportunity presents a fee-simple, 11,180 square foot Dollar General store located at 1936 Van Vranken Ave, Schenectady, NY 12308. Built in 2009 on a 0.72-acre lot, this property boasts a 100% occupancy rate with a strong corporate guarantee from Dollar General, a company with an investment-grade credit rating. The current lease, signed in 2020, is a Net Net Net (NNN) lease with a remaining term of six years and four, five-year options, each with a 10% rent increase. The asking price is $1,728,436, representing a price per square foot of $155 and a 7.35% cap rate. The property generates a net operating income (NOI) of $127,040. The location benefits from strong demographics, with a population of nearly 105,000 and an average household income exceeding $104,000 within a five-mile radius. Dollar General's history of consistent same-store sales growth, even during economic downturns, further enhances the investment's appeal. This is a second-generation location, suggesting favorable lease terms. The property's defensive nature, as a discount retailer, makes it a resilient investment in various economic climates. This is a passive income opportunity with minimal landlord responsibilities.

    Property Features for 1936 Van Vranken Ave

    General Information

    Property type
    Individual retail properties
    Lot Size
    31,363 SF

    Building Details

    Year Built
    2009

    HighLights

    • Investment‑grade credit tenant: Dollar General (BBB S&P rating) provides a strong corporate guarantee.
    • Strong demographics: 105,000+ population and $104,000+ average household income within a 5‑mile radius.
    • Passive income: NNN lease with minimal landlord responsibilities. 10‑year lease (2020) includes four, five‑year options with 10% rent increases.
    • Favorable lease terms: Second‑generation Dollar General location, suggesting below‑market rent.
    • Recession‑resistant investment: Dollar General's sales typically increase during economic downturns.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Dollar General Dollar Store Paula Ogilvie Pharmacy

    Suggested Use

    Realty agency Law Firm Restaurant Spa & Massage Dental Office Hair Salon Nail Salon Clothing Store Building Supply Gym & Fitness

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

    Location Insight

    • Map
    • Local Demand
    City
    Schenectady
    County
    Schenectady
    State
    New York
    Longitude
    -73.921197
    Latitude
    42.8277722

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    FAQs

    What type of property is this?
    Individual retail property - High-yield Dollar General investment. Strong demographics.
    Where is this individual retail property located?
    The property is located at 1936 Van Vranken Ave Schenectady, NY.
    What is the asking price?
    The asking price for this property is $1,728,436.
    What are key features of this property?
    This property features: Investment-grade credit tenant: Dollar General (BBB S&P rating) provides a strong corporate guarantee.; Strong demographics: 105,000+ population and $104,000+ average household income within a 5-mile radius.; Passive income: NNN lease with minimal landlord responsibilities. 10-year lease (2020) includes four, five-year options with 10% rent increases.
    Request Owner's contact information
    1936 Van Vranken Ave Schenectady, NY 12308
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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
    1936 Van Vranken Ave Schenectady, NY 12308
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