323 S Pitney Rd - Medical FOR SALE


Galloway Township, NJ 08205
$1,500,000 USD
215-531-7056
323 S Pitney Rd, Galloway Township, NJ for Sale
$1,500,000 USD
Medical - FOR SALE
1/15
null | Request Cap Rate

323 S Pitney Rd
Galloway Township, NJ 08205


HIGHLIGHTS

  • STARTING BID $1,500,000 | Tilton Vistas | $481K NOI | Fitness and Medical Tenants | AUCTION NOVEMBER 17-19
  • 48,828 SF Fitness & Medical Center | 100% Leased: 2008 construction situated on 4.57 acres with 224 parking spaces, occupied by five tenants.
  • Diversified Tenant Mix: Anchored by Atilis Gym (±28,500 SF), complemented by Five Star Swim School, Strive Physical Therapy, Accent Aesthetics
  • Prime South Jersey Location: Strategically positioned 10–20 miles from Atlantic City and major shore towns, 60 miles from Philadelphia, and 100 miles
  • Excellent Visibility & Access: Prominent frontage along E. Jimmie Leeds Road (±15,471 VPD) with cross-access easements providing multiple ingress/egre

OVERVIEW

Marcus & Millichap is pleased to present Tilton Vistas located at 323 S Pitney Rd in Galloway, NJ. The Property is a 48,828 SF, three-story fitness and medical center delivered in 2008 on 4.57 acres with 224 parking spaces. The property is 100% leased across five complementary tenants—Atilis Gym (anchor), Five Star Swim School, Strive Physical Therapy, Accent Aesthetics, and Claims Resolution Corp—supporting cross-shopping and daily traffic. Current income totals $706,387 in base rent (plus reimbursements), producing NOI of $481,925, with a weighted average remaining term of 2.9 years. Excellent access and signage are provided along E. Jimmie Leeds Rd (±15,471 VPD) and S. Pitney Rd, enhanced by recorded cross-access easements that create multiple ingress/egress routes. Galloway Township, located in Atlantic County, New Jersey, is a growing suburban community with strong regional connectivity via NJ Route 9, NJ Route 30 and the Garden State Parkway. Located roughly 10 miles from Atlantic City, the asset benefits from a diversified regional employer base and on-going retail growth, including a new ±86,076 SF ShopRite under construction in the immediate trade area. The surrounding trade area is active and expanding, with an average household income (AHHI) of $96,590 within 1 mile. The 3-mile radius is home to approximately 27,835 residents with an AHHI of ±$93,177, while the 5-mile radius includes ±48,547 residents with an AHHI of ±$90,047. The offering creates an exceptional opportunity for investors to acquire this is a stabilized, experiential-retail play at an attractive basis.

FOR SALE DETAILS

PRICE

$1,500,000 USD

PRICE/SF

$32 USD /SF

CAP RATE

Request Cap Rate

% LEASED

-

TENANCY

Multiple

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Auction-Short Sale | Tilton Vistas-$481K NOI

PROPERTY TYPE

Office

PROPERTY SUBTYPE

Medical

ADD'L SUBTYPES

Freestanding, Storefront Retail/Office, Health Club

TOTAL BUILDING SIZE

-

STORIES

2

BUILDING CLASS

A

YEAR BUILT

2008

SPRINKLERS

-

PARKING SPACES

224

LAND DETAILS

LAND ACRES

4.57 AC

LAND SF

199,069 SF

ZONING

CVC

APN/PARCEL ID

11-00985-0000-00004-02

ASK ABOUT THIS PROPERTY

Mark KrantzMarcus & MillichapMore Info
215-531-7056

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Mark KrantzMarcus & MillichapMore Info
215-531-7056

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