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366 E Wheat Rd
Vineland, NJ 08360
Retail Property For Sale
Executive Summary
Now is your chance to own a long standing staple of the community with the Sorrento Plaza! This amazing income producing strip mall has a long history of success in the community of Buena Borough. There are currently 4 long term tenants who are very happy and successful in their business. The building was originally set up to hold 8 different storefronts but the current tenants are occupying 2 units each. The tenants right now consist of 2 different churches, a game shop, and a hobby shop. It could also be great for those looking to open up their own business and have the other tenants pay your location over head. On a busy road in a central location it would be hard to lose no matter what business you want to open! It is also great for any investors looking to get into commercial real estate or add another great piece to their portfolio! There is also a possibility to subdivide and build another commercial space or expand the parking lot to support a growing business! Over all a fantastic opportunity for anyone in the commercial space! Strip Malls like this don't hit the market often so don't miss your chance and schedule your private tour today!
Property Facts
Sale Type
Investment or Owner User
Property Type
Retail
Property Subtype
Freestanding
Building Size
8,400 SF
Building Class
C
Year Built
1948
Price
$450,000
Price Per SF
$53.57
Cap Rate
7.11%
NOI
$32,000
Percent Leased
100%
Tenancy
Multiple
Building Height
1 Story
Building FAR
0.01
Lot Size
15.00 AC
Zoning
R-4
Parking
48 Spaces (5.71 Spaces per 1,000 SF Leased)
Frontage
427’ on Wheat Rd
Amenities
- Pylon Sign
- Signage
Property Taxes
| Parcel Number | 04-00173-0000-00006 | Improvements Assessment | $300,000 |
| Land Assessment | $100,000 | Total Assessment | $400,000 |
Property Taxes
Parcel Number
04-00173-0000-00006
Land Assessment
$100,000
Improvements Assessment
$300,000
Total Assessment
$400,000
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