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Key Details
Sold Price $1,180,000
Property Type Commercial
Sub Type Office
Listing Status Sold
Purchase Type For Sale
Square Footage 16,000 sqft
Price per Sqft $73
MLS Listing ID NJCB2002818
Sold Date 03/02/23
HOA Y/N N
Originating Board BRIGHT
Year Built 1990
Annual Tax Amount $30,392
Tax Year 2020
Property Description
Strong investment opportunity located just outside of Philadelphia, in southern New Jersey. The property is rooted in the highly sought-after Vineland Industrial Park, which has immediate access to Philadelphia, northern New Jersey / New York, and Delaware ports. This property is being marketed at 1.349 million dollars, with a cap rate of 8%. The property features 9,879 square feet of office space, 6011 square feet of warehouse space and is currently occupied by 8 tenants. 40% of the leasable space is occupied by the existing owner whose business has been in operation for 41 years and is willing to enter into a long-term leaseback agreement with the purchaser. The building was constructed by Stanker and Galetto, a renowned industrial builder in the Philadelphia market in 1990 and has been meticulously maintained since. The property features updated mechanical systems, electrical systems, including high-efficiency products for energy-saving enhancement.
Location
State NJ
County Cumberland
Area Vineland City (20614)
Zoning 4B
Rooms
Other Rooms Primary Bedroom
Interior
Hot Water Natural Gas
Heating Forced Air
Cooling Central A/C
Fireplace N
Heat Source Natural Gas
Exterior
Water Access N
Accessibility None
Garage N
Building
Sewer Public Sewer
Water Public
New Construction N
Schools
School District City Of Vineland Board Of Education
Others
Ownership Other
Special Listing Condition Standard
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