520 STOKES RD Medford NJ 08055-2904

Marcus & Millichap has been selected as the exclusive advisor to market for sale The Ironstone Medical & Professional Building (the “Property”), a 24,947 square foot medical and professional office complex located at 520 Stokes Road in Medford, New Jersey. The Property sits twenty miles east of Philadelphia in an affluent area where the average household income exceeds $147,000.

At 82 Percent occupancy, the Property is home to a diversified rent roll comprised of twenty-five tenants, all subject to a combination of Base Year and Gross leases. Due to its unique layout and the strength of its location, the Property hosts high renewal and retention rates – with many current tenants having occupied the Property for ten years or more.

The Property sits adjacent to a large neighborhood retail, lifestyle, and professional complex and can be accessed via five points of entry along Stokes Road—a primary retail corridor in the heart of Medford. CVS and PNC Bank sit on the most proximate neighboring parcels in the center and share access from Stokes Road.

As it sits today, the Property is projected to generate a 2019 net operating income of $210,502. Based upon a purchase price of $2,200,000, this yields a favorable 9.57% capitalization rate on the in-place contractual income. Additionally, the Property offers upside via leasing of the current vacant suites and increasing tenant reimbursements. Due to its diverse tenant mix, history of retaining tenants for extended periods of time, and recognition within the community, The Ironstone Medical & Professional Building offers to investors a well-located and high yielding medical office investment opportunity