Single-Tenant Triple-Net Family
954 State Street, Schenectady, NY 12307
Absolute NNN lease Family Dollar property with new lease terms and multiple renewal options remaining.
Type:Retail
Property size:
8,320 SFPrice / SF:
$182/SF- Added:
- Jun 16, 2026
- Days on Market:
- 13
- Last Refresh:
- Jun 20 at 6:52 am
Property Features for 954 State Street
General Information
- Standard status
- Active
- Size
- 8,320 SF
- Property subtype
- Retail
Building Details
- Year Built
- 2016
Listing office SAB Capital
Listing date Jun 16, 2026
Source Crexi
Displayed information is deemed reliable but is not guaranteed and should be independently verified.
All listing content including descriptions, pricing, images are the copyrighted material of SAB Capital
HighLights
- Single‑tenant Family Dollar property built in 2016
- Net‑leased with an absolute triple‑net (NNN) lease; 5 years remaining on the lease term
- Lease includes 10% increases in every 5 successive years
- Includes six 5‑year renewal options remaining
- Family Dollar operates within a network of 16,000+ stores across 48 U.S. states
- Traffic exceeds 12,000 vehicles per day, with visibility, signage, and access
Overview
This offering features a single-tenant Family Dollar retail building operating under a brand new absolute triple-net (NNN) lease. The lease has 5 years remaining on the initial term, includes 10% increases in every 5 successive years, and offers six additional 5-year options. The tenant is Family Dollar, operating within a combined network of over 16,000 stores across 48 states, with corporate guarantee support as described in the offering materials.
The property is located at 954 State Street in Schenectady, New York. The center benefits from superior visibility with signage and strong access, and the offering cites traffic over 12,000 vehicles per day. The area is described as being near multiple national tenants, and in proximity to Schenectady County Community College and Union College.
For investors seeking a net-leased retail income profile, this asset provides a straightforward single-tenant structure with an absolute NNN responsibility framework and scheduled rent increases, along with extended renewal opportunities through the remaining option periods. The tenant’s described scale and corporate guarantee support are intended to reinforce credit quality within the investment’s lease structure.
The property is located at 954 State Street in Schenectady, New York. The center benefits from superior visibility with signage and strong access, and the offering cites traffic over 12,000 vehicles per day. The area is described as being near multiple national tenants, and in proximity to Schenectady County Community College and Union College.
For investors seeking a net-leased retail income profile, this asset provides a straightforward single-tenant structure with an absolute NNN responsibility framework and scheduled rent increases, along with extended renewal opportunities through the remaining option periods. The tenant’s described scale and corporate guarantee support are intended to reinforce credit quality within the investment’s lease structure.
Local Financial Insights For Retail
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $149.8k | $18.00 |
| − Vacancy | −$6.3k | −$0.76 |
| EGI | $143.5k | $17.24 |
| − OpEx | −$43.0k | −$5.17 |
| NOI | $100.4k | $12.07 |
8,320 SF · lease $18.00/SF/yr · vacancy 4.20% · expense 30.00%
Alternative Uses
Best Use
Retail
$1.43M
$1.26M – $1.67M
NOI $100,429 @ 7.0% cap · market cap 6.61%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.49M
$2.18M – $2.91M
NOI $174,321 @ 7.0% cap · market cap 11.48%
Zoning and permitted uses should be independently verified with local authorities.
Location Intelligence
Current Use by Public Records
Retail space
Location Insight
- Map
- Local Demand
- City
- Schenectady
- County
- Schenectady
- State
- New York
- Longitude
- -73.9308847
- Latitude
- 42.8036305
Nearby Similar for Sale
FAQs
What type of property is this?
NNN property - Absolute NNN lease Family Dollar property with new lease terms and multiple renewal options remaining.
Where is this nnn property located?
The property is located at 954 State Street Schenectady, NY.
What is the asking price?
The asking price for this property is $1,519,000.
What are key features of this property?
This property features: Single‑tenant Family Dollar property built in 2016; Net‑leased with an absolute triple‑net (NNN) lease; 5 years remaining on the lease term; Lease includes 10% increases in every 5 successive years
