1206 W SHERMAN AVE #2A Vineland, NJ 08360
5,248 SqFt
UPDATED:
02/05/2025 01:32 PM
Key Details
Property Type Commercial
Sub Type Office
Listing Status Active
Purchase Type For Sale
Square Footage 5,248 sqft
Price per Sqft $323
Subdivision None Available
MLS Listing ID NJCB2022268
Originating Board BRIGHT
Year Built 2008
Annual Tax Amount $26,073
Tax Year 2024
Lot Dimensions 0.00 x 0.00
Property Description
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
Area Vineland City (20614)
Zoning COMM
Interior
Hot Water Natural Gas
Heating Forced Air
Cooling Central A/C
Flooring Carpet
Heat Source Natural Gas
Exterior
Garage Spaces 11.0
Water Access N
Accessibility 2+ Access Exits
Total Parking Spaces 11
Garage N
Building
Sewer Public Sewer
Water Public
New Construction N
Schools
School District City Of Vineland Board Of Education
Others
Tax ID 14-06101-00031-C2A
Ownership Condominium
Special Listing Condition Standard
