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Family Dollar 948 State St 8,320 SF Retail Building Schenectady, NY 12307 $1,519,000 ($182.57/SF) 9% Cap Rate
Investment 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
- Absolute NNN Lease Structure | Zero Landlord Responsibilities | Ideal Management Free Asset for a Passive Investor
- The site is surrounded by over 155,000 residents within a 5-mile radius, with an average household income that exceeds $99,000
- The lease includes 10% rental increases at the start of each option period
- Over 12,000+ Vehicles Per Day | Excellent visibility & access along State Street
- Situated within the Albany MSA, New York's Capital Region that comprises over 1.2 Million residents across several counties
Executive Summary
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.
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.
Property Facts
Sale Type
Investment NNN
Property Type
Retail
Property Subtype
Building Size
8,320 SF
Building Class
B
Year Built
2016
Price
$1,519,000
Price Per SF
$182.57
Cap Rate
9%
NOI
$136,723
Tenancy
Single
Building Height
1 Story
Building FAR
0.20
Lot Size
0.96 AC
Zoning
05 - Commercial
Parking
21 Spaces (2.52 Spaces per 1,000 SF Leased)
Frontage
Amenities
- Bus Line
Major Tenants
- Tenant
- Industry
- SF Occupied
- Rent/SF
- Lease Type
- Lease End
-
- Retailer
- -
- $14.94
- Triple Net
- May 2031
Family Dollar began in 1959 as a discount variety store chain and grew from a neighborhood retail concept into a nationwide business serving everyday shopping needs. The company focuses on affordable family essentials and carries food and beverages, paper products, health and beauty supplies, pet food, home products, apparel and accessories, seasonal goods, and electronics. Family Dollar supports convenient value shopping through national brands, private-label items, and digital savings tools across the United States.
| Tenant | Industry | SF Occupied | Rent/SF | Lease Type | Lease End | |
|
|
Retailer | - | $14.94 | Triple Net | May 2031 |
Moderately walkable
60/100
Exceptionally drivable
100/100
Good public transit
70/100
Fairly bikeable
40/100
Nearby Major Retailers
Property Taxes
| Parcel Number | 049-042-0002-012-021-0000 | Improvements Assessment | $1,159,900 |
| Land Assessment | $75,300 | Total Assessment | $1,235,200 |
Property Taxes
Parcel Number
049-042-0002-012-021-0000
Land Assessment
$75,300
Improvements Assessment
$1,159,900
Total Assessment
$1,235,200
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Family Dollar | 948 State St