948 State St - Freestanding FOR SALE


Schenectady, NY 12307- Hamilton Hill
$1,519,000 USD
845-499-7118
948 State St, Schenectady, NY for Sale
$1,519,000 USD
Freestanding - FOR SALE
1/8
null | 9% Cap Rate

948 State St
Schenectady, NY 12307
Hamilton Hill


HIGHLIGHTS

  • Corporate Guaranteed Lease from Family Dollar (S&P: BBB) | Has over 5.0-Years of lease term on a 15-Year lease with six (6) 5-year extension options
  • The lease includes 10% rental increases at the start of each option period
  • Absolute NNN Lease Structure | Zero Landlord Responsibilities | Ideal Management Free Asset for a Passive Investor
  • Over 12,000+ Vehicles Per Day | Excellent visibility & access along State Street
  • The site is surrounded by over 155,000 residents within a 5-mile radius, with an average household income that exceeds $99,000
  • Situated within the Albany MSA, New York's Capital Region that comprises over 1.2 Million residents across several counties

OVERVIEW

SAB Capital is pleased to present the exclusive offering of a single-tenant, net-leased Family Dollar located in Schenectady, NY. This exceptional investment is secured by a brand new absolute triple net (NNN) lease with a 5 years remaining on the lease-year term term along with 10% increases in every 5 successive years with six 5-year options remaining. Family Dollar now operates within a combined network of over 16,000 stores across 48 U.S. states, branded as Family Dollar and Dollar Tree. With $13.8B+ in sales in 2025 and strong corporate guarantee, Family Dollar is considered an investment grade tenant. Strategically located in Schenectady, this asset is central to other national tenants (Dunkin', Popeyes, Mcdonald's, Denny's, Autozone, Somino's, Mavis Discount Tire, Sherwin Williams, etc.) and is in close proximity to multiple universities (Schenectady County Communit College (4,105+ Students) and Union College (2,065+ Students)). The property benefits from superior visibility, signage and access, with traffic of over 12k vehicles per day. There are over 155,000 residents within a 5-mile radius, with an average household income greater than $99,000.

FOR SALE DETAILS

PRICE

$1,519,000 USD

PRICE/SF

$183 USD /SF

CAP RATE

9%

% LEASED

-

TENANCY

Single

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Family Dollar

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Freestanding

ADD'L SUBTYPES

Convenience Store, Supermarket, Department Store

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

2016

SPRINKLERS

-

PARKING SPACES

21

LAND DETAILS

LAND ACRES

0.96 AC

LAND SF

41,818 SF

ZONING

05

APN/PARCEL ID

049-042-0002-012-021-0000

ASK ABOUT THIS PROPERTY

Mark NeelmanSAB CapitalMore Info
845-499-7118

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Mark NeelmanSAB CapitalMore Info
845-499-7118

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.