82 2Nd AveTroy, NY 12180

Property Details for 82 2Nd Ave

Year built

1940

Lot size

0.20 AC

Property size (Sq ft)

7,703 SF

Zone code

B2

Property type

Community centers

APN

381700 90.46-2-1.21

APU

38170090462121

Description

This exceptional investment opportunity presents a 7,538 square foot Family Dollar store located at 82 2nd Ave, Troy, NY 12180. The property, built in 1940 and situated on a 0.2-acre lot zoned MU-1, boasts a strong 9.00% cap rate and a substantial net operating income (NOI) of $47,678. The single-tenant building is 100% occupied by a credit-rated Family Dollar, operating under a NNN lease with built-in rent bumps. The tenant has demonstrated long-term commitment, recently extending their lease and planning a store remodel. This freestanding building offers significant advantages, including a convenient location at a traffic light and shared parking via a deeded easement with an adjacent property. The asking price is $529,755, translating to $113 per square foot. This stabilized investment provides a secure and attractive return for investors seeking a low-maintenance, high-yield retail asset with a strong, creditworthy tenant. The property's history of occupancy and the tenant's recent lease extension and planned improvements underscore its stability and potential for continued growth. This is a rare opportunity to acquire a well-positioned, income-producing property in a desirable location.

• CAP approach

  CAP return

  Valuation

  6%

  $2,812,910

  6.5%

  $2,596,533

  7%

  $2,411,066

• Comparable approach

  Method

  Valuation

  Relative Method

  $2,553,363

  Geo Method

  $2,536,314

• Alternative Use

  Use

  Valuation

  Residential

  $2,190,272

  Hospitality

  $2,006,278

  Educational

  $1,669,200

  Medical

  $1,726,606

  Retail

  $2,596,533

Location Insight

City

Troy

County

Rensselaer

State

New York

Latitude

42.7559

Longitude

-73.6822

CBSA code

10580

CBSA name

ALBANY-SCHENECTADY-TROY, NY METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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