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South Jersey Surgery Center 1133 E Chestnut Ave 13,900 SF 100% Leased Office Building Vineland, NJ 08360 $2,620,315 ($188.51/SF) 9.50% Cap Rate
INVESTMENT HIGHLIGHTS
- Attractive Pricing – Offered at $188 PSF, significantly below the national average for ASCs. Current ASC rent at $25.25 NN is well below market.
- Essential Facility for Tenant – Pulse Vascular conducts all procedures at this center, which provides the full OR and anesthetic capabilities.
- Well-Maintained Asset – New roof on ASC
- Long-Term Stability – Pulse Vascular recently acquired the long-standing ASC practice and assumed a NN lease through Aug 2028
- CON State Advantage – Limited surgical competition supports tenant performance and long-term demand.
EXECUTIVE SUMMARY
Zeustra Healthcare Real Estate Advisors is pleased to present 1133 E Chestnut Avenue, a rare two-building medical office and surgery center portfolio in Vineland, NJ. The 13,900 SF property is 100% leased to three established medical tenants, anchored by Pulse Vascular—a fully accredited ambulatory surgery center. Pulse Vascular recently acquired the long-standing ASC practice and assumed a NN lease through August 2028, offering minimal landlord responsibilities and ensuring long-term income stability.
With a 9.5% cap rate, ASC rent well below market at $25.25 NN, and pricing significantly under replacement cost, the property offers immediate stable cash flow and substantial value-add potential. Situated in a prime medical corridor just minutes from Inspira Medical Center Vineland, and located in a CON-protected state with limited surgical competition, this investment is positioned for both near-term upside and long-term growth.
With a 9.5% cap rate, ASC rent well below market at $25.25 NN, and pricing significantly under replacement cost, the property offers immediate stable cash flow and substantial value-add potential. Situated in a prime medical corridor just minutes from Inspira Medical Center Vineland, and located in a CON-protected state with limited surgical competition, this investment is positioned for both near-term upside and long-term growth.
DATA ROOM Click Here to Access
FINANCIAL SUMMARY (ACTUAL - 2024) |
ANNUAL | ANNUAL PER SF |
|---|---|---|
| Gross Rental Income |
-
|
-
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
-
|
-
|
| Net Operating Income |
$274,000
|
$19.71
|
FINANCIAL SUMMARY (ACTUAL - 2024)
| Gross Rental Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Net Operating Income | |
|---|---|
| Annual | $274,000 |
| Annual Per SF | $19.71 |
PROPERTY FACTS
Sale Type
Investment
Property Type
Office
Property Subtype
Medical
Building Size
13,900 SF
Building Class
B
Year Built
1999
Price
$2,620,315
Price Per SF
$188.51
Cap Rate
9.50%
NOI
$248,930
Percent Leased
100%
Tenancy
Multiple
Building Height
1 Story
Typical Floor Size
13,900 SF
Building FAR
0.19
Lot Size
1.69 AC
Zoning
RP
1 1
PROPERTY TAXES
| Parcel Number | 14-05007-0000-00009 | Improvements Assessment | $1,234,600 (2025) |
| Land Assessment | $40,900 (2025) | Total Assessment | $1,275,500 (2025) |
PROPERTY TAXES
Parcel Number
14-05007-0000-00009
Land Assessment
$40,900 (2025)
Improvements Assessment
$1,234,600 (2025)
Total Assessment
$1,275,500 (2025)
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South Jersey Surgery Center | 1133 E Chestnut Ave
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