For Sale
$650,000

750 Route 73Evesham, NJ 08053

Profitable Medical Office Building, NNN Lease

Overview

Added:
Dec 11, 2024
Days on market:
116
This exceptional Class A medical office building, located at 750 Rte 73 S in Evesham, New Jersey (zip code 08053), presents a compelling investment opportunity. The 3,724 square foot building is situated in the Willow Ridge Executive Office Park and enjoys a prime location proximate to Virtua Hospital in Voorhees. Currently operating under a single-tenant, net lease (NNN) agreement, the property boasts 100% occupancy with a strong tenant, Virtua. The lease commenced on January 14, 2024, and has a remaining term of approximately 0.1 years, with two one-year renewal options. The asking price is $650,000, representing a price per square foot of $174.54 and a compelling 9.54% cap rate based on a current Net Operating Income (NOI) of $62,000. This investment offers a stable, high-return opportunity in a desirable medical market. The property's location near Virtua Hospital ensures consistent demand and strong tenant stability. The short-term lease provides an opportunity for future rent increases and potential value appreciation. This is an ideal investment for those seeking a secure, high-yield property with significant upside potential. The building is a free-standing structure, offering excellent visibility and accessibility. All aspects of the property are in excellent condition.

Highlights

  • $650,000 asking price for this Class A medical office building.
  • 3,724 square feet, located in Evesham, NJ, offering a price per square foot of $174.54.
  • Net lease (NNN) investment opportunity with a 9.54% cap rate and $62,000 annual NOI.
  • 100% occupancy with a single tenant, Virtua, under a one-year lease with two one-year renewal options.
  • Located in Willow Ridge Executive Office Park, near Virtua Hospital in Voorhees, NJ.

Property Details for 750 Route 73

Property type
Office properties, Medical offices
Square Feet
3,724 SF
Class
A

Location Insight

City
Evesham
County
Burlington
State
New Jersey
Latitude
39.8663123
Longitude
-74.9217521
750 Route 73, Evesham, New Jersey

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750 Route 73
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