82 2nd Ave Troy, NY 12180-1104

Property Details for 82 2nd Ave

Year built

1940

Lot size

0.20 lot acres

Property size

7,703 SF

Zone code

B2

Property type

Community centers

APN

381700 90.46-2-1.21

APU

38170090462121

Description

This exceptional investment opportunity presents a 7,538 square foot Family Dollar store located at 82 2nd Ave, Troy, NY 12180. The property, built in 1940 and situated on a 0.2-acre lot zoned MU-1, boasts a strong 9.00% cap rate and a substantial net operating income (NOI) of $47,678. The single-tenant building is 100% occupied by a credit-rated Family Dollar, operating under a NNN lease with built-in rent bumps. The tenant has demonstrated long-term commitment, recently extending their lease and planning a store remodel. This freestanding building offers significant advantages, including a convenient location at a traffic light and shared parking via a deeded easement with an adjacent property. The asking price is $529,755, translating to $113 per square foot. This stabilized investment provides a secure and attractive return for investors seeking a low-maintenance, high-yield retail asset with a strong, creditworthy tenant. The property's history of occupancy and the tenant's recent lease extension and planned improvements underscore its stability and potential for continued growth. This is a rare opportunity to acquire a well-positioned, income-producing property in a desirable location.