Freestanding NNN
For Sale
Contact for pricing
363 Old Hook Rd, Westwood, NJ 07675
Single-story commercial building leased to DaVita under an absolute NNN structure.
Property Size8,450 SF
Lot Size0.46 Acres
Price / SF$372.78
Days on Market210
Property Features for 363 Old Hook Rd
General Information
Standard status
Active
Size
8,450 SF
Lot size
0.46 Acres
Property subtype
OFFICE
Occupancy
100%
Additional Details
Road Access
Yes
Building Details
Buildings
1
Stories
1
Tenancy
Single
Owner Occupied
No
Abandoned
No
Listing Agency:
RIPCO Real Estate - Corporate
(201) 636-7507
Listed By:
Seth Pollack · License #0341146
Source:
Moodyscre
Added: Feb 2
Changed: Aug 30
Last Checked: Aug 30 at 5:41PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of RIPCO Real Estate - Corporate
Investment Insights
Based on property information with market context.
This freestanding, single-story commercial building contains 8,450 square feet on approximately 0.46 acres. DaVita, Inc. occupies the property under an absolute NNN lease, providing an established medical-oriented tenancy within a standalone building.
The property is located at 363 Old Hook Road in Westwood, New Jersey, along a principal commercial corridor. The surrounding trade area includes residential neighborhoods along with established retail and service businesses. The site is near Westwood’s downtown district and offers access to major regional roadways.
The property is located at 363 Old Hook Road in Westwood, New Jersey, along a principal commercial corridor. The surrounding trade area includes residential neighborhoods along with established retail and service businesses. The site is near Westwood’s downtown district and offers access to major regional roadways.
Key Highlights
- 8,450‑square‑foot freestanding, single‑story commercial building
- Approximately 0.46 acres along Old Hook Road
- Occupied by DaVita, Inc.
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$129,285
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
4.10%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$2,585,700
$2.6M
Cap Rate 7%
$1,846,929
$1.8M
Cap Rate 9%
$1,436,500
$1.4M
Market Conditions
NOI Build-Up for 8,450 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$253.5K $30.00/SF
− Vacancy
−$81.1K −$9.60/SF
EGI
$172.4K $20.40/SF
− OpEx
−$43.1K −$5.10/SF
NOI
$129.3K $15.30/SF
Area
Bergen County, NJ
Vacancy
32.00%
Lease Rate
$30.00 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$2,585,700
Cap Rate 7%
$1,846,929
Cap Rate 9%
$1,436,500
Alternative Uses
Best Use
Office B
$1.85M
$1.62M – $2.15M
NOI $129,285 @ 7.0% cap · market cap 4.10%
Second Best
Healthcare Medical
$1.80M
$1.57M – $2.10M
NOI $125,817 @ 7.0% cap · market cap 3.99%
Theoretical Best
Office A
$2.21M
$1.93M – $2.57M
NOI $154,452 @ 7.0% cap · market cap 4.90%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
100%
Occupancy
Single-tenant
Tenancy
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
945
Businesses Nearby
Explore this area
Business Placement
Demographics for 07675, NJ
27,079
Population
10,049
Households
2.7
Avg Household Size
45
Median Age
65%
College-Educated
97%
High-School Grad
9.6 sq mi
ZIP Area
2,821
Density / Sq Mi
$176,981
Median Household Income
$72,808
Median Earnings
$2,347
Median Rent
$680,600
Median Home Value
Market
Vacancy Rate% for Office in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
NNN property - Single-story commercial building leased to DaVita under an absolute NNN structure.
Where is this nnn property located?
The property is located at 363 Old Hook Rd Westwood, NJ.
What is the asking price?
The asking price for this property is $3,150,000.
What are key features of this property?
This property features: 8,450‑square‑foot freestanding, single‑story commercial building; Approximately 0.46 acres along Old Hook Road; Occupied by DaVita, Inc.
