1076 E Chestnut Ave - Medical FOR SALE


Vineland, NJ 08360
$4,000,000 USD
610-276-3153
1076 E Chestnut Ave, Vineland, NJ for Sale
$4,000,000 USD
Medical - FOR SALE
1/14
null | Request Cap Rate

1076 E Chestnut Ave
Vineland, NJ 08360


HIGHLIGHTS

  • Recently renovated
  • New parking lot

OVERVIEW

Avison Young is pleased to offer 1076 E. Chestnut Avenue (the “Property”) for sale to qualified investors. 1076 E. Chestnut Avenue totals 14,500 SF on 1.21 acres and is 100% leased to Penn Cardiology through June of 2032 at a below market rent of $19.50/NNN psf. Penn Cardiology has occupied the building since 2007 and recently executed an eight-year lease renewal proving its commitment and success at the building. The current owner recently completed over $350,000 in capital improvements including a parking expansion from 49 to 65 spaces to accommodate the continued growth of the practice. This location has grown from five to nine cardiology doctors within the past five years which resulted in the need for additional parking. Listed at $4,000,000, the property has no deferred maintenance with roof, painting exterior façade, and parking lot repairs all completed. The lease has a NNN structure with owner responsible for roof and structure.

FOR SALE DETAILS

PRICE

$4,000,000 USD

PRICE/SF

$286 USD /SF

CAP RATE

Request Cap Rate

% LEASED

-

TENANCY

Single

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Office

PROPERTY SUBTYPE

Medical

TOTAL BUILDING SIZE

-

STORIES

1

BUILDING CLASS

B

YEAR BUILT

1993

SPRINKLERS

-

PARKING SPACES

53

LAND DETAILS

LAND ACRES

1.21 AC

LAND SF

52,708 SF

ZONING

R-P

APN/PARCEL ID

14-04214-0000-00022

ASK ABOUT THIS PROPERTY

Adam GillespieAvison YoungMore Info
610-276-3153

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Adam GillespieAvison YoungMore Info
610-276-3153

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