1076 E Chestnut Ave
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1076 E Chestnut Ave
14,000 SF Office Building Vineland, NJ 08360 $4,000,000 ($286/SF)
Investment Highlights
- Recently renovated
- New parking lot
Executive Summary
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.
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.
Property Facts
Sale Type
Investment
Property Type
Office
Property Subtype
Medical
Building Size
14,000 SF
Building Class
B
Year Built
1993
Price
$4,000,000
Price Per SF
$286
Tenancy
Single
Building Height
1 Story
Typical Floor Size
14,000 SF
Building FAR
0.27
Land Acres
1.21 AC
Zoning
R-P - Residential Preservation
Parking
53 Spaces (3.79 Spaces per 1,000 SF Leased)
Amenities
- Air Conditioning
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PROPERTY TAXES
| Parcel Number | 14-04214-0000-00022 | Improvements Assessment | $1,187,200 |
| Land Assessment | $36,100 | Total Assessment | $1,223,300 |
PROPERTY TAXES
Parcel Number
14-04214-0000-00022
Land Assessment
$36,100
Improvements Assessment
$1,187,200
Total Assessment
$1,223,300
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Adam Gillespie -
Benjamin Fabiszewski -
Avison Young
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1076 E Chestnut Ave
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