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400 Old Hook Rd. (Value/Add Medical) - 400 Old Hook Road, Westwood, NJ

Property Details

  • Price :

  • Square Feet :

  • Cap Rate :

  • $5,500,000

  • 33,081

  • N/A

  • NOI :

  • Acres :

  • $161,111

  • 1.13

  • Property Type :

  • Property Status :

  • Office

  • Available

Investment Highlights

  • 3-story medical office building totaling 33,081 rentable SF located at signalized intersection
  • VALUE/ADD - Currently 48% occupancy with credit tenants
  • Ability to add over $393,000
  • Anchored by Valley Medical with other known medical tenants including Metropolitan Endocrinology, Hearing Life, and Pro-Active Foot & Ankle
  • Annual rent increases
  • Below market rents
  • Substantial capital improvement – $1,750,000+ New Elevator, All New Interior and Exterior remodeling, All New Landscaping
  • ½ mile to Hackensack Meridian Health Pascack Valley Medical Center (128 Overnight Beds)
  • Situated between the Palisades Interstate Parkway and Garden State Parkway with easy access to Route 17
  • Nearby national retailers include PNC Bank, ShopRite, Domino's Pizza, TD Bank, Lightbridge Academy, Stop & Shop, Goodyear Tire, and Autozone
  • Excellent demographics with an average household income within 1 mile exceeding $149,250 and a 5-mile population over 249,190 people

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