3266 Ny-29A Caroga Lake, NY 12032
- Retail properties
- 9,250 SF
- 2.15 lot acres
Current Use by Public Records
- Isalis / Women'S Clothing Store / Jewelry Store
- Party City / Balloon Store / Candy Store
- Skunk Funk / Wholesaler / Clothing Store
- Carl's Trading Co / Hat Shop
- Bushka's Kitchen LLC / Outdoor Clothing And Equipment Shop
Property Details for 3266 Ny-29A
- Year built
- 2020
- Lot size
- 2.15 lot acres
- Property size
- 9,250 SF
- Property type
- Retail properties
- Property subtype
- Retail space
Description
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.
Value Estimation
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CAP approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Caroga Lake
- County
- Fulton
- State
- New York
- Longitude
- -74.479
- Latitude
- 43.1369
