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Auction-Short Sale | Tilton Vistas-$481K NOI 323 S Pitney Rd 48,828 SF 100% Leased Office Building Galloway Township, NJ 08205 $2,077,365 CAD ($42.54 CAD/SF)
INVESTMENT HIGHLIGHTS
- STARTING BID $1,500,000 | Tilton Vistas | $481K NOI | Fitness and Medical Tenants | AUCTION NOVEMBER 17-19
- Diversified Tenant Mix: Anchored by Atilis Gym (±28,500 SF), complemented by Five Star Swim School, Strive Physical Therapy, Accent Aesthetics
- Excellent Visibility & Access: Prominent frontage along E. Jimmie Leeds Road (±15,471 VPD) with cross-access easements providing multiple ingress/egre
- 48,828 SF Fitness & Medical Center | 100% Leased: 2008 construction situated on 4.57 acres with 224 parking spaces, occupied by five tenants.
- Prime South Jersey Location: Strategically positioned 10–20 miles from Atlantic City and major shore towns, 60 miles from Philadelphia, and 100 miles
EXECUTIVE SUMMARY
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.
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.
PROPERTY FACTS Under Contract
Sale Type
Investment
Property Type
Office
Property Subtype
Building Size
48,828 SF
Building Class
A
Year Built
2008
Price
$2,077,365 CAD
Price Per SF
$42.54 CAD
Percent Leased
100%
Tenancy
Multiple
Building Height
2 Stories
Typical Floor Size
24,414 SF
Slab To Slab
12’
Building FAR
0.25
Lot Size
4.57 AC
Zoning
CVC - Community Village Commercial District (CVC)
Parking
224 Spaces (4.59 Spaces per 1,000 SF Leased)
AMENITIES
- 24 Hour Access
- Fitness Center
PROPERTY TAXES
| Parcel Number | 11-00985-0000-00004-02 | Improvements Assessment | $2,080,934 CAD |
| Land Assessment | $726,586 CAD | Total Assessment | $2,807,520 CAD |
PROPERTY TAXES
Parcel Number
11-00985-0000-00004-02
Land Assessment
$726,586 CAD
Improvements Assessment
$2,080,934 CAD
Total Assessment
$2,807,520 CAD
CONTACTS
-
Mark Krantz -
Adam Sklaver -
Philip Kates -
Kyle Hynes -
James McGuckin -
Marcus & Millichap
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Auction-Short Sale | Tilton Vistas-$481K NOI | 323 S Pitney Rd
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