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$ 1,695,950
Est. payment /mo
Active
1206 W Sherman Ave Vineland, NJ 08360
UPDATED:
Key Details
Property Type Commercial
Listing Status Active
Purchase Type For Sale
MLS Listing ID 592592
Style Off./Prof. Condo,Other (See Remarks)
Year Built 2008
Annual Tax Amount $26,074
Tax Year 2024
Property Description
**Exclusive Investment Opportunity** The Rivas Realty Group is proud to present a prime, income-generating investment opportunity at **1206 W. Sherman Ave, Building 2A, Vineland, NJ**. This modern, well-maintained 2-story medical office building offers **7,310+ sq. ft.** of professional-grade office space, strategically designed to support medical tenants. Featuring **11+ exam rooms, 12+ private doctor's offices**, and **two spacious waiting areas**, the facility is built to accommodate healthcare professionals and their patients with efficiency and comfort. Additional on-site amenities include a **staff cafeteria** and a **conference room**, making this a highly functional space for long-term tenants. Constructed in 2008 and in **excellent condition**, the property is low-maintenance, providing an ideal turnkey solution for investors seeking stability and minimal oversight. The property is currently leased to **IMG Vineland Surgical Associates**, a reputable, long-term tenant that has occupied the building since 2018 and has a lease expiration of 4/30/25. The current "gross" lease structure has the tenant covering utilities while the landlord is responsible for insurance, taxes, condo fees, and maintenance. Key investment highlights include a **current cap rate of 7.86%** and a **projected rent increase to fair market value of $20-$21 per sq. ft.** under the **NNN lease structure**, enhancing future income potential. The property's **prime location** just **0.5 miles from Inspira Vineland Hospital** ensures high visibility and easy access for patients and staff alike, further elevating its attractiveness as a medical office investment. At an **asking price of $1,695,950**, this property offers an **attractive value proposition** for investors seeking long-term, stable returns guaranteeing cash flow with minimal management responsibilities and low operational costs. This is a rare opportunity to acquire a well-positioned, low-risk asset in a thriving healthcare market. For more information or to schedule a tour, please contact the **Rivas Realty Group** today. This investment opportunity won't last!
Location
State NJ
County Cumberland
Community Vineland
Area Vineland City
Location Details See Remarks
Interior
Interior Features Handicap Features, Other (See Remarks), Restroom
Exterior
Parking Features Paved
Listed by eXp Realty-Northfield