Medical & Professional Office Investment Opportunity
1800 Executive Suites at 1601 N. 2nd Street in Millville, New Jersey is a campus of medical and professional office buildings. This well-positioned 27,463 square foot, 4-building, Class B office property is leased to multiple tenants entrenched in the Millville submarket. The tenants include BAYADA Home Health Care, Alafia OB-GYN, Lieberman Ophthalmology, Jespersen Podiatry, Slone Endocrinology, and Elk Pipeline. The property represents a solid investment opportunity for investors seeking to purchase a primarily medical office asset below replacement cost with strong in-place tenants many of whom have been located at the property for over 15 years.
The four single story buildings are architecturally similar with a stone and stained wood clapboard. The property has attractive courtyards leading to separate tenant office entrances. The investment opportunity offers quality medical and professional office space well suited and sized for the submarket with appealing value-add aspects.
At its current 52.2% occupancy, 1800 Executive Suites offers the opportunity to acquire a quality medical and professional office asset with excellent value-add returns. This is due to the advantage of acquiring a strong asset in a great location with value-add components of stabilizing existing leases and completing the lease-up of current vacancy.
1800 Executive Suites is located in Millville, Cumberland County, New Jersey. It is well located within the 970,000 square foot of tracked office submarket. The Property is easily accessible from Route 55 providing convenient access to and from highly populated and commercial areas. It is near to the highly amentized sections of Millville and Vineland.
Value-Add Medical and Professional Office Investment Opportunity
Value-Add through Existing Lease Stabilization
Value-Add through Vacancy Lease-up
Value-Add through Minor Property Improvement
New Lower Assessment
Strongly Improving Southern New Jersey Submarket
Superior Highway Location and Access
Discount to Replacement Cost
Free and Clear of Debt
- Property Type
Office
- Total Acres
0.63
- Property ID
1857632
