954 State St Schenectady, NY 12307-1520
- Investment properties
- 8,326 SF
- 0.94 lot acres
Current Use by Public Records
- Investment properties
Property Details for 954 State St
- Year built
- 2015
- Lot size
- 0.94 lot acres
- Property size
- 8,326 SF
- Zone code
- 05 - COMMERCIAL
- Property type
- Investment properties
- Property subtype
- Retail residential properties
- APN
- 421500 49.42-2-12.21
- APU
- 421500494221221
Description
This fee-simple investment opportunity presents a Family Dollar store located at 954 State St, Schenectady, NY 12307. The property boasts 8,320 square feet on a 0.96-acre lot, built in 2016. Currently operating under a triple-net (NNN) lease with a corporate guarantee, the property offers a strong 7.50% cap rate with a current NOI of $124,294. The lease commenced April 1, 2016, and has a remaining term of approximately 6.5 years, expiring May 31, 2031. The asking price is $1,657,253, translating to $199.19 per square foot. This prime location in downtown Schenectady benefits from strong demographics, with over 110,200 residents within a three-mile radius and average household incomes exceeding $78,900 within three miles and $89,600 within five miles. The property's proximity to Albany, NY (approximately 17 miles) further enhances its appeal. This is a rare opportunity to acquire a well-performing, established retail asset with a strong tenant and favorable lease terms in a desirable market. The property is 100% occupied. The lease includes scheduled rent increases.
Value Estimation
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Schenectady
- County
- Schenectady
- State
- New York
- Longitude
- -73.931
- Latitude
- 42.8037
- CBSA code
- 10580
- CBSA name
- ALBANY-SCHENECTADY-TROY, NY METROPOLITAN STATISTICAL AREA
