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    324 Ny-43 Stephentown, NY 12168

    Sponsored
    For Sale
    $1,785,984

    High-yield, 100% occupied retail property.

    Property size:
    9,166 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    393
    This exceptional investment opportunity presents a single-tenant, absolute NNN leased Dollar General store in Stephentown, NY. The property, built in 2020, boasts 9,166 square feet on a 1.692-acre lot at the intersection of NY State Route 22 and NY State Route 43, offering excellent visibility and accessibility. The 15-year lease, commencing September 1, 2020, and expiring August 31, 2035, has a remaining term of 10.8 years, providing substantial long-term income security. The lease includes four 5-year renewal options with a 10% rent increase with each renewal. The current annual net operating income (NOI) is $109,838, resulting in a 6.15% cap rate and a price per square foot of $194.85. The property benefits from a corporate guaranteed lease, eliminating landlord responsibilities. The tenant, Dollar General Corporation, enjoys a strong credit rating and a proven track record of success, further enhancing the investment's stability. Located one mile from the Massachusetts border and 25 miles from Albany, NY, this property offers a compelling combination of strong tenant, favorable lease terms, and a desirable location. The asking price is $1,785,984.

    Property Features for 324 Ny-43

    General Information

    Property type
    Individual retail properties
    Square Feet
    9,166 SF
    Lot Size
    73,704 SF

    Building Details

    Year Built
    2020
    Buildings
    1
    Stories
    1
    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 Law Firm Building Supply Spa & Massage Wholesale Shop Auto Repair Shop Hair Salon Nail Salon Hotel & Motel Department Store

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

    Location Insight

    • Map
    • Local Demand
    City
    Stephentown
    County
    Rensselaer
    State
    New York
    Longitude
    -73.3676
    Latitude
    42.5479478

    Nearby Comparable

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    • $450,000
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      Secluded Stephentown land with direct access to outdoor adventures.
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    Nearby Similar for Sale

    • $369,900
      2,228 SF

      Historic Colonial with Commercial Zoning

      Updated Colonial with commercial zoning, workshop, and storage.
      422 Ny-43, Stephentown, NY 12168
      View Details
    • $450,000
      7,000 SF

      Stephentown Multifamily Investment Opportunity

      Multifamily property with two buildings and rental income.
      430 Ny 43, Stephentown, NY 12168
      View Details
    • $450,000
      2.24 Acres

      Stephentown Multifamily Investment Opportunity

      Two buildings with four apartments, generating $5500 monthly income.
      430-432 Ny 43, Stephentown, NY 12168
      View Details
    • $369,900
      2,228 SF

      Historic Colonial with Commercial Zoning

      Updated Colonial with commercial zoning, workshop, and storage.
      422 Ny-43, Stephentown, NY 12168
      View Details

    FAQs

    What type of property is this?
    Individual retail property - High-yield, 100% occupied retail property.
    Where is this individual retail property located?
    The property is located at 324 Ny-43 Stephentown, NY.
    What is the asking price?
    The asking price for this property is $1,785,984.
    Request Owner's contact information
    324 Ny-43 Stephentown, NY 12168
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    Stephentown, NY 12168
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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
    324 Ny-43 Stephentown, NY 12168
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