1076 E Chestnut Ave
Vineland, NJ 08360
Vineland/Millville
HIGHLIGHTS
- Institutional Health System Tenancy: The property is leased to Penn Medicine, a premier academic health system comprising six acute-care hospitals
- Triple Net (NNN) Lease: The lease is structured on a NNN basis, placing taxes, insurance, and maintenance responsibilities on the tenant.
- 2.75% Annual Rent Growth: The lease includes fixed 2.75% annual rental escalations, delivering predictable income growth
- Affluent Surrounding Demographics: The property is situated in a high-income area, with average household incomes exceeding $100k
- Strategic Location with Proximity to Major Healthcare Hub: Located along Chestnut Avenue just off NJ Route 55
- High-Quality, Professionally Maintained Facility: The building presents in strong physical condition, with well-maintained systems
FOR SALE DETAILS
PRICE
$4,057,488 USD
PRICE/SF
$290 USD /SF
CAP RATE
7.25%
% LEASED
-
TENANCY
Single
SALE TYPE
Investment
BUILDING DETAILS
PROPERTY NAME
Penn Medicine (S&P:AA) | 7 Cap | 2.5% Buyside
PROPERTY TYPE
Office
PROPERTY SUBTYPE
Medical
ADD'L SUBTYPES
Convenience Store, Fast Food, Freestanding
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
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