Flex Warehouse with Storage
223 W Park Ave Vineland, NJ 08360
For Sale
$249,000
Flex warehouse includes office, conference room, kitchenette, restroom, and two 12-by-8 bays plus an additional storage shed.
Property Size2,400 SF
Price / SF$103.75
Days on Market16
Property Features for 223 W Park Ave
General Information
- Standard status
- Active
- Size
- 2,400 SF
Listing Agency:
Collini Real Estate LLC
(856) 364-0772
Listed By:
Stacy Schnell · License #1537581
(856) 364-0772
Source:
Exprealty
Added: Jul 10
Changed: Jul 23
Last Checked: Jul 24 at 3:03PM
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 Collini Real Estate LLC
Investment Insights
Based on property information with market context.
This flex warehouse property was previously used by ServiceMaster and is currently set up for business use with approximately 2,400 square feet per the seller. The building includes two 12-by-8' bays, a loft, an office, a conference room, a kitchenette, and a restroom. Storage is enhanced by an additional 12-by-24' shed.
Parking is available both at the front and in the rear. The property uses a 3rd St entrance and provides additional parking in the rear.
The space is configured with a combination of warehouse and supporting office amenities, making it suitable for operations needing both production/storage area and indoor work space.
Parking is available both at the front and in the rear. The property uses a 3rd St entrance and provides additional parking in the rear.
The space is configured with a combination of warehouse and supporting office amenities, making it suitable for operations needing both production/storage area and indoor work space.
Key Highlights
- Flex warehouse previously used as Service Master, offering approximately 2,400 SF per the seller
- Includes two 12 x 8' bays plus a loft
- Office, conference room, kitchenette, and restroom included
Financial Insights For Warehouse
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $21.6k | $9.00 |
| − Vacancy | −$1.8k | −$0.75 |
| EGI | $19.8k | $8.25 |
| − OpEx | −$3.0k | −$1.24 |
| NOI | $16.8k | $7.02 |
2,400 SF · lease $9.00/SF/yr · vacancy 8.30% · expense 15.00%
Alternative Uses
Best Use
Flex RnD
$367.0K
$321.2K – $428.2K
NOI $25,693 @ 7.0% cap · market cap 10.32%
Second Best
Warehouse
$240.5K
$210.5K – $280.6K
NOI $16,836 @ 7.0% cap · market cap 6.76%
Theoretical Best
Office A
$3.60M
$3.15M – $4.20M
NOI $252,253 @ 7.0% cap · market cap 101.31%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Flex space
Similar Off Market Nearby
- Agape grill — 237 S Delsea Dr, Vineland, NJ 08360
- Ms Tee's Urban Cakes & Treats — 608 Pine St, Vineland, NJ 08360, United States
FAQs
What type of property is this?
Flex space - Flex warehouse includes office, conference room, kitchenette, restroom, and two 12-by-8 bays plus an additional storage shed.
Where is this flex space located?
The property is located at 223 W Park Ave Vineland, NJ.
What is the asking price?
The asking price for this property is $249,000.
What are key features of this property?
This property features: Flex warehouse previously used as Service Master, offering approximately 2,400 SF per the seller; Includes two 12 x 8' bays plus a loft; Office, conference room, kitchenette, and restroom included
