Single-Tenant Triple-Net Family
For Sale
Contact for pricing
954 State Street, Schenectady, NY 12307
Absolute NNN lease Family Dollar property with new lease terms and multiple renewal options remaining.
Property Size8,320 SF
Price / SF$182.57
Days on Market116
Property Features for 954 State Street
General Information
Standard status
Active
Size
8,320 SF
Property subtype
Retail
Occupancy
100%
Lease Type
Absolute Net
Net Operating Income
$136,723
Additional Details
Traffic Count
12,000 vehicles/day
Building Details
Year Built
2016
Tenancy
Single
Listing Agency:
SAB Capital
Listed By:
Mark Neelman · License #10401386291
Source:
Crexi
Added: Jun 16
Changed: Oct 4
Last Checked: Oct 7 at 8:35AM
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
Investment Insights
Based on property information with market context.
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.
Key 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
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$100,429
Cap Rate
6.61%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,008,580
$2.0M
Cap Rate 7%
$1,434,700
$1.4M
Cap Rate 9%
$1,115,878
$1.1M
Market Conditions
NOI Build-Up for 8,320 SF
Gross rent
$149.8K $18.00/SF
− Vacancy
−$6.3K −$0.76/SF
EGI
$143.5K $17.24/SF
− OpEx
−$43.0K −$5.17/SF
NOI
$100.4K $12.07/SF
Area
Schenectady County, NY
Vacancy
4.20%
Lease Rate
$18.00 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,008,580
Cap Rate 7%
$1,434,700
Cap Rate 9%
$1,115,878
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 authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
12,000 VPD
Traffic count
Location Intelligence
Trade Area within ½ mile
1,198
Businesses Nearby
Explore this area
Business Placement
Demographics for 12307, NY
7,567
Population
3,491
Households
2.2
Avg Household Size
32
Median Age
14%
College-Educated
74%
High-School Grad
0.7 sq mi
ZIP Area
10,810
Density / Sq Mi
$33,191
Median Household Income
$28,878
Median Earnings
$1,110
Median Rent
$95,900
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Retail in Northeast region
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Frequently Asked Questions
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
