1103 W Sherman Ave Ave , Vineland NJ

$2,750,000 | $12,673 / Month*

Courtesy of eXp Realty - Montclair
MLS #566595

Location

Features

Details
Garage/Parking: 11 or More Spaces, Other ( See Remarks), Paved
Property Location: Commercial Park
Foreclosure: No
Design: Off./ Prof. Condo
Rooms: Public Restroom, Shower Room(s), Utility Room
Location: Commercial Park
Interior Features
Flooring: Carpet- Wall to Wall, Linoleum/ Vinyl
Features: 220 Volt Electricity, Fire Sprinkler System, Restroom, Security System, Smoke/ Fire Alarm, Storage
Exterior Features
Construction: Brick Face, Stucco
Roof: Asphalt, Pitched
Utilities
Cooling: Central
Heating: Forced Air, Gas- Natural
Sewer Type: Public Sewer

This is a 3-unit medical office building (Building #2) in a centrally located professional campus and within a 2 minute ride to Inspira Medical Center and Rt 55. It offers 10,000+/-SF, and currently fully occupied with long term tenants, and fetching approximately $19,000/month in rent, all NNN. Each unit is large and aptly appointed for medical practices to conduct business. Building is in excellent condition and parking is more than ample. Some details about the three units included in the sale: Unit 2A: Currently owner occupied and (they are looking to stay) paying $5k/month rent with no lease.There is a large waiting room with reception/front office area, 4 exam rooms, an office, file room, large lab room, bathroom, employee room, kitchen, utility room with closet and storage space. Unit 2B: Tenant is currently in their 6th year of a 10-year lease paying $5k monthly. This unit has 6 exam rooms, 2 operating rooms, a lab, reception area, dining room and 4 baths. Unit 2C: Currently renting $5k/month with 6 years remaining in lease, with a 10 year option thereafter for a potential of 16 years. There are 5 examination rooms, a manager’s room, nutritionist room, 2 doctors’ offices. 3 baths - one with shower, also a billing room and kitchen. Owner occupied unit also offers 3 sub-leases to professional practitioners on a monthly basis which bring in an additional $4k/month; totaling to approximately $19k/month; current cap is 8.2%. We invite you to tour this great location and see for yourself what a fantastic investment opportunity it is.

My Notes

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