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Penn Medicine (S&P:AA) | 7 Cap | 2.5% Buyside 1076 E Chestnut Ave 14,450 SF Office Building Vineland, NJ 08360 $5,711,003 CAD ($395.23 CAD/SF) 7% Cap Rate
Investment Highlights
- Institutional Health System Tenancy: The property is leased to Penn Medicine, a premier academic health system comprising six acute-care hospitals
- 2.75% Annual Rent Growth: The lease includes fixed 2.75% annual rental escalations, delivering predictable income growth
- Strategic Location with Proximity to Major Healthcare Hub: Located along Chestnut Avenue just off NJ Route 55
- Triple Net (NNN) Lease: The lease is structured on a NNN basis, placing taxes, insurance, and maintenance responsibilities on the tenant.
- Affluent Surrounding Demographics: The property is situated in a high-income area, with average household incomes exceeding $100k
- High-Quality, Professionally Maintained Facility: The building presents in strong physical condition, with well-maintained systems
Executive Summary
Broker of Record
Patrick Forde
License # 2330333 (NJ)
Matthews Real Estate Investment Services, Inc
52 Park Avenue, Suite B5, Park Ridge NJ 07656
(866) 889-0550
Patrick Forde
License # 2330333 (NJ)
Matthews Real Estate Investment Services, Inc
52 Park Avenue, Suite B5, Park Ridge NJ 07656
(866) 889-0550
Property Facts
Sale Type
Investment
Property Type
Office
Property Subtype
Building Size
14,450 SF
Building Class
B
Year Built
1993
Price
$5,711,003 CAD
Price Per SF
$395.23 CAD
Cap Rate
7%
NOI
$399,770 CAD
Tenancy
Single
Building Height
1 Story
Typical Floor Size
14,450 SF
Building FAR
0.27
Lot Size
1.21 AC
Zoning
R-P - Residential Preservation
Parking
53 Spaces (3.67 Spaces per 1,000 SF Leased)
Amenities
- Air Conditioning
Major Tenants
- Tenant
- Industry
- SF Occupied
- Rent/SF
- Lease End
- Wachspress Rainear & Rana Cardiology Associates PA
- -
- -
- -
- -
| Tenant | Industry | SF Occupied | Rent/SF | Lease End | ||
| Wachspress Rainear & Rana Cardiology Associates PA | - | - | - | - |
1 1
Property Taxes
| Parcel Number | 14-04214-0000-00022 | Improvements Assessment | $1,621,276 CAD |
| Land Assessment | $49,299 CAD | Total Assessment | $1,670,575 CAD |
Property Taxes
Parcel Number
14-04214-0000-00022
Land Assessment
$49,299 CAD
Improvements Assessment
$1,621,276 CAD
Total Assessment
$1,670,575 CAD
Contacts
-
Kyle Mackulak -
Rahul Chhajed -
Tyler Swade -
Michael Moreno -
Matthews Real Estate Investment Services
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Videos
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Photos
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Penn Medicine (S&P:AA) | 7 Cap | 2.5% Buyside | 1076 E Chestnut Ave
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