1936 Van Vranken Ave Schenectady, NY 12308
- Investment properties
- 11,180 SF
- 0.72 lot acres
Current Use by Public Records
- Dollar General / Candy Store / Convenience Store
- Paula Ogilvie / Pharmacy
Property Details for 1936 Van Vranken Ave
- Year built
- 1997
- Lot size
- 0.72 lot acres
- Property size
- 11,180 SF
- Zone code
- 05 - COMMERCIAL
- Property type
- Investment properties
- Property subtype
- Live-work space
- APN
- 421500 39.35-4-1.1
- APU
- 4215003935411
Description
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.
Value Estimation
-
AI approach
- CAP return
- Estimation
- Estimation
- $2,230,000
-
CAP approach
- CAP return
- Estimation
- 6%
- $1,815,000
- 6.5%
- $1,995,000
- 7%
- $1,710,000
-
Comparable approach
- Method
- Estimation
- Relative Method
- $1,690,000
- Geo Method
- $1,880,000
-
Alternative Use
- Use
- Estimation
- Distribution
- $1,840,000
- Retail
- $1,785,000
- Mixed-Use
- $1,775,000
- Hospitality
- $2,175,000
- Educational
- $2,115,000
- Residential Income
- $1,825,000
- Energy
- $2,070,000
- Income-Based Land
- $1,770,000
- Food Service
- $1,700,000
Location Insight
- Map
- Local Demand
- City
- Schenectady
- County
- Schenectady
- State
- New York
- Longitude
- -73.9212
- Latitude
- 42.8279
- CBSA code
- 10580
- CBSA name
- ALBANY-SCHENECTADY-TROY, NY METROPOLITAN STATISTICAL AREA
