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1103 W Sherman Ave

Vineland, NJ 08360
  • $2,750,000
  • STATUS: Active
  • ON SITE: 96 Days
  • MLS #: 566595
UPDATED: 49 min ago
$2,750,000
  • 0
    BEDS
  • 2.01
    ACRES
  • 0
    BATHS
  • 0
    1/2 BATHS
Neighborhood:
Type:
Commercial
Built:
2010
County:

School Ratings & Info

Description

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 managers 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.

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© 2022 South Jersey Shore Regional MLS. All rights reserved. IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information is deemed reliable but is not guaranteed accurate by the MLS or The Oceanside Realty Team | Keller Williams Jersey Shore. Properties marked with the Broker Reciprocity icon or thumbnail icon (a small house) are provided courtesy of the South Jersey Shore Regional MLS Broker Reciprocity Database. Data last updated 2022-12-05T07:49:51.377.
www.theoceansiderealtyteam.com/homes/132597944
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1103 W Sherman Ave Vineland, NJ 08360

  • Price: $2,750,000
  • Status: Active
  • On Site: 96 Days
  • Updated: 49 min ago
  • MLS #: 566595
0
Beds
0
Baths
0
½ Baths
2.01
Acres
2010
Built
Neighborhood:
Vineland City
County:
Cumberland
Area:
Vineland City
Property Description
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 managers 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.
Exterior Features

Commercial Style Off./Prof. Condo Location Commercial Park Lot Dimensions N/A Parking 11 Or More SpacesOther (See Remarks)Paved Road Frontage Township Roof AsphaltPitched Siding Exterior Brick FaceStucco

Interior Features

Air Conditioning Central Flooring Carpet-Wall To WallLinoleum/Vinyl Heating Forced AirGas-Natural Hot Water Gas Interior Features 220 Volt ElectricityFire Sprinkler SystemRestroomSecurity SystemSmoke/Fire AlarmStorage Specialty Rooms Public RestroomShower Room(S)Utility Room

Property Features

Age 13 Approved Short Sale N/A Auction YN No Bank Owned Foreclosure No May Be Subject To Third Party Approval Short Sale No Sewer Public Sewer Tax Year 2021 Taxes 10063 Water Public

South Jersey Shore Regional MLS logo Listing information © 2022 South Jersey Shore Regional MLS.
Listing provided courtesy of Exp Realty - Montclair: .


© 2022 South Jersey Shore Regional MLS. All rights reserved. IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information is deemed reliable but is not guaranteed accurate by the MLS or The Oceanside Realty Team | Keller Williams Jersey Shore. Properties marked with the Broker Reciprocity icon or thumbnail icon (a small house) are provided courtesy of the South Jersey Shore Regional MLS Broker Reciprocity Database. Data last updated 2022-12-05T07:49:51.377.
 
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5501 New Jersey Avenue
Wildwood Crest NJ, 08260