Medical Office
For Sale
$4,057,448
1076 E Chestnut Ave, Vineland, NJ 08360
Medical office building totaling 14,500 SF on 1.21 acres, fully leased to Penn Cardiology through June 2032.
Property Size14,500 SF
Lot Size1.21 Acres
Price / SF$279.82
Days on Market66
Property Features for 1076 E Chestnut Ave
General Information
Standard status
Active
Size
14,500 SF
Lot size
1.21 Acres
Property subtype
Commercial
Occupancy
100%
Lease Term
±6.14 YRS
Net Operating Income
$294,165
Additional Details
Traffic Count
15,000 vehicles/day
Building Details
Year Built
1994
Tenancy
Single
Listed By:
Rahul Chhajed · License #01986299 (CA)
(949) 432-4513
Source:
Matthews
Added: Jul 11
Changed: Sep 7
Last Checked: Sep 13 at 3:56AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Rahul Chhajed
Investment Insights
Based on property information with market context.
1076 E. Chestnut Avenue is a medical office building totaling 14,500 SF on 1.21 acres, currently 100% leased to Penn Cardiology through June of 2032. Penn Cardiology has occupied the building since 2007 and recently executed an eight-year lease renewal.
The property is located in a medical corridor with high visibility and traffic counts over 15,000 vehicles per day. Surrounding uses include pediatric, obstetric, and endodontic practices serving a population of more than 126,000 within a 10-mile radius.
The offering reflects a long-term, in-place tenant occupancy through mid-2032 under a below-market rent structure noted in the remarks.
The property is located in a medical corridor with high visibility and traffic counts over 15,000 vehicles per day. Surrounding uses include pediatric, obstetric, and endodontic practices serving a population of more than 126,000 within a 10-mile radius.
The offering reflects a long-term, in-place tenant occupancy through mid-2032 under a below-market rent structure noted in the remarks.
Key Highlights
- Medical office building totaling 14,500 SF on 1.21 acres, fully leased to Penn Cardiology.
- Lease term runs through June 2032; Penn Cardiology has occupied the building since 2007.
- Recent eight‑year lease renewal executed, with rent at $19.50/NNN PSF (below market rent per remarks).
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$191,835
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
4.73%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$3,836,700
$3.8M
Cap Rate 7%
$2,740,500
$2.7M
Cap Rate 9%
$2,131,500
$2.1M
Market Conditions
NOI Build-Up for 14,500 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$365.4K $25.20/SF
− Vacancy
−$45.7K −$3.15/SF
EGI
$319.7K $22.05/SF
− OpEx
−$127.9K −$8.82/SF
NOI
$191.8K $13.23/SF
Area
Cumberland County, NJ
Vacancy
12.50%
Lease Rate
$25.20 /SF/Yr
Expense Ratio
40.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$3,836,700
Cap Rate 7%
$2,740,500
Cap Rate 9%
$2,131,500
Alternative Uses
Best Use
Office B
$17.70M
$15.48M – $20.65M
NOI $1,238,706 @ 7.0% cap · market cap 30.53%
Second Best
Healthcare Medical
$2.74M
$2.40M – $3.20M
NOI $191,835 @ 7.0% cap · market cap 4.73%
Theoretical Best
Office A
$21.77M
$19.05M – $25.40M
NOI $1,524,031 @ 7.0% cap · market cap 37.56%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
15,000 VPD
Traffic count
Single-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
890
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 08360, NJ
43,043
Population
16,797
Households
2.6
Avg Household Size
38
Median Age
17%
College-Educated
79%
High-School Grad
44.3 sq mi
ZIP Area
972
Density / Sq Mi
$62,604
Median Household Income
$37,236
Median Earnings
$1,164
Median Rent
$199,600
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Office in Northeast region
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Frequently Asked Questions
What type of property is this?
Medical Office Space - Medical office building totaling 14,500 SF on 1.21 acres, fully leased to Penn Cardiology through June 2032.
Where is this medical office space located?
The property is located at 1076 E Chestnut Ave Vineland, NJ.
What is the asking price?
The asking price for this property is $4,057,448.
What are key features of this property?
This property features: Medical office building totaling 14,500 SF on 1.21 acres, fully leased to Penn Cardiology.; Lease term runs through June 2032; Penn Cardiology has occupied the building since 2007.; Recent eight‑year lease renewal executed, with rent at $19.50/NNN PSF (below market rent per remarks).
