7+ Cap Absolute NNN 10 Year Dollar General 3266 NY 29A 9,250 SF Retail Building Caroga Lake, NY 12032 $1,565,727 ($169.27/SF) 7.20% Cap Rate

The Twist Capital Team of Colliers is pleased to offer for sale to qualified investors the opportunity to acquire this Dollar General located in Caroga Lake, New York. This Dollar General is new construction located at the junction of New York State Route 29A and New York State Route 10 in the southern part of the Adirondack Mountains and to the northeast of Albany, the state capital.
The property occupies the dominant commercial corner of the Caroga Lake corridor, capturing the full flow of north and south traffic moving between Gloversville, Northville, and the chain of lakes that defines this part of the Adirondacks. Route 10 functions as the primary spine connecting Hamilton County recreational destinations to the urbanized Mohawk Valley below, while Route 29A carries traffic east and west across Fulton County. For a rural convenience retailer, this is exactly the kind of placement that drives consistent year round demand from local residents and meaningful seasonal lift from the second home and tourism population.
Caroga Lake itself anchors a recreational corridor that swells dramatically from May through October. The surrounding waters, including East Caroga, West Caroga, Canada Lake, and Pine Lake, support a deep inventory of cabins, camps, and second homes, with the Caroga Lake State Campground and nearby Adirondack trail network drawing weekend and seasonal visitors throughout the warm months. Visitors and seasonal residents lean heavily on the limited local retail base for groceries, household goods, and everyday consumables, and this site is positioned as the default stop for that demand. Year round residents within the immediate trade area face limited alternatives, with the next comparable retail concentration roughly fifteen miles south in Gloversville. That captive geography is one of the strongest underwriting features of the asset.
The improvements are new construction, which means the buyer steps into a freshly built asset with no deferred maintenance, full manufacturer warranties on roof and building systems, and a clean depreciable basis. Dollar General builds to its current prototype, which is engineered for operational efficiency and a longer functional life than the prior generation of stores. Roof, parking field, mechanical systems, and interior finishes are all delivered new, eliminating the capital reserve drag that investors typically underwrite against older Dollar General product. For investors targeting cost segregation and the reinstated one hundred percent bonus depreciation available under the One Big Beautiful Bill Act, a new construction asset of this profile produces a meaningfully larger first year depreciation benefit than a comparable seasoned property.
The lease is structured as a true absolute net lease, with the tenant responsible for all property taxes, insurance, common area maintenance, structural elements, roof, parking lot, and building systems for the full term. The landlord has zero ongoing responsibilities, no management obligations, and no exposure to operating expense inflation. The lease carries a fifteen year initial term with ten percent rent increases every five years, followed by multiple five year renewal options at the tenant's discretion, providing the income duration that long term investors and 1031 exchange buyers prioritize.
Dollar General Corporation stands behind the lease as the obligor, providing an investment grade credit profile (BBB stable by Standard and Poor's, Baa3 stable by Moody's) and the operational scale of more than twenty thousand stores across the country. The company continues to expand into rural and tertiary markets where its small box footprint and consumables driven merchandising mix face limited direct competition, and the Caroga Lake store fits squarely within that strategic growth lane.
For a private investor looking to anchor a portfolio with stable, passive, credit backed income, this offering delivers a true absolute net lease, zero landlord responsibility, full corporate guarantee, and the demographic insulation that comes with serving a captive rural and recreational trade area. It is the kind of asset designed to sit quietly in a portfolio and produce, year after year, without management drag.