1936 Van Vranken AveSchenectady, NY 12308

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.