Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings

    238 Chestnut Ave Vineland, NJ 08360

    View on Map
    Loading data...
    Loading data...
    Loading data...
    For Sale
    $725,000

    High-traffic corner lot, 8,000 sq ft.

    Property size:
    8,000 SF

    Property Features for 238 Chestnut Ave

    General Information

    Property type
    Residential income properties
    Square Feet
    8,000 SF
    Lot Size
    15,246 SF

    Building Details

    Year Built
    1949

    We can help!

    Listing Contact
    Saverio Brunetti
    Saverio Brunetti

    Listing Agency: Atlas Real Estate Listing Agent: Saverio Brunetti

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Property Insight Report

    Overview

    This exceptional 8,000 square foot multi-family property located at 238 W Chestnut Avenue in Vineland, NJ presents a compelling investment opportunity. Situated on a highly visible 0.35-acre corner lot, this building enjoys significant daily traffic exposure, averaging 14,000 cars passing by. Previously used as a medical building, the property offers immense flexibility for a variety of uses. The building's design incorporates separate utilities for each unit, allowing for efficient management and potential for multiple tenants. Currently, one unit is leased, providing immediate income generation for the new owner. The property's prime location and substantial size make it an ideal choice for owner-occupants seeking a blend of business and residential space, or for investors looking to capitalize on a high-traffic area with strong rental potential. The building's adaptable layout and existing infrastructure offer a solid foundation for a variety of commercial ventures. This is a rare opportunity to acquire a well-positioned multi-family property in a thriving area of Vineland, New Jersey. The asking price is $725,000.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Guzman E MD Physician HR Payroll Accounting Firm Michael Monter Physician Christopher Garbowski Physician Tedman Tan Physician

    Suggested Use

    Real Estate Agency Law Firm Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Gym & Fitness Center Building Supply Daycare Center

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Vineland
    County
    Cumberland
    State
    New Jersey
    Longitude
    -75.03179
    Latitude
    39.47958

    Nearby Similar for Sale

    • New
      $799,995
      2.93 Acres

      Vineland Commercial Property For Sale

      Income-producing property with established automotive use and expansion potential.
      2428 S Delsea Dr, Vineland, NJ 08360
      View Details
    • $899,900
      2,786 SF

      Turnkey Farm with Modern Facilities

      Fully operational farm with greenhouses, barn, and farmhouse.
      1001 S West Ave, Vineland, NJ 08360
      View Details
    • New
      Contact for pricing
      1,500 SF

      Vineland Auto Shop with Lifts

      1,500 SF auto shop with two drive-in bays.
      2966 S Main Rd, Vineland, NJ 08360
      View Details
    • $1,100,000
      6,936 SF

      Prime Commercial Development Opportunity

      13-acre property with frontage on high-traffic S Delsea Drive.
      2242 S Delsea Dr, Vineland, NJ 08360
      View Details
    • $175,000
      0.80 Acres

      Established Auto Repair Garage For Sale

      Fully operational auto repair garage in business for over 60 years.
      4715 Pennsylvania Ave, Vineland, NJ 08332
      View Details
    • $199,900
      2,063 SF

      Professional Office Condo in Vineland

      Well-maintained 2,063 sq ft office condo for sale.
      1051 Magnolia Rd, Vineland, NJ 08360
      View Details
    • $1,299,000
      1.62 Acres

      Vineland Auto Repair Shop/Warehouse

      Auto repair shop with warehouse and showroom in Vineland, NJ.
      1289 S Delsea Dr, Vineland, NJ 08360
      View Details
    • $350,000
      2,000 SF

      Vineland Mixed-Use Opportunity

      Two-story mixed-use building with potential for residential or commercial use.
      511 E Grape St, Vineland, NJ 08360
      View Details
    • $149,900

      Professional Office Condo in Vineland

      Well-maintained office condo with versatile space in a convenient location.
      1051 Magnolia Rd, Vineland, NJ 08360
      View Details
    • $199,900

      Professional Office Condo in Vineland

      Well-maintained 2,063 SF office condo for sale in Vineland.
      1051 Magnolia Rd, Vineland, NJ 08360
      View Details
    • New
      $364,900
      2,707 SF

      Versatile Mixed-Use Property in Vineland

      Charming 2,707 sq ft property zoned for residential/professional use.
      1074 E Landis Ave, Vineland, NJ 08360
      View Details
    • $149,900
      1,700 SF

      Professional Office Condo in Vineland

      Well-maintained 1,700 sq ft office condo for sale.
      1051 Magnolia Rd, Vineland, NJ 08360
      View Details

    FAQs

    What type of property is this?
    Residential income property - High-traffic corner lot, 8,000 sq ft.
    Where is this residential income property located?
    The property is located at 238 Chestnut Ave Vineland, NJ.
    What is the asking price?
    The asking price for this property is $725,000.
    (856) 369-1000
    Request Owner's contact information
    238 Chestnut Ave Vineland, NJ 08360
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    238 Chestnut Ave
    Vineland, NJ 08360
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    238 Chestnut Ave Vineland, NJ 08360
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    We can help!
    Listing Contact
    Saverio Brunetti
    Saverio Brunetti
    (856) 369-1000
    Learn more
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!