Medical Office Building For
For Sale
$3,856,173
440 Old Hook, Emerson, NJ 07630
Three-story medical office building near Pascack Valley Medical Center.
Property Size8,509 SF
Price / SF$453.19
Days on Market161
Property Features for 440 Old Hook
General Information
Standard status
Active
Size
8,509 SF
Property subtype
Commercial
Taxes and HOA fees
Annual Taxes
$71,820
Amenities
Central Air Heating
Gas Heating
Listing Agency:
RAND COMMERCIAL ENGLEWOOD CLIFFS
(201) 567-5400
Listed By:
ADAM PLAWKER
Source:
Corcoran
Added: Mar 3
Changed: Aug 8
Last Checked: Aug 8 at 6:06AM
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 RAND COMMERCIAL ENGLEWOOD CLIFFS
Investment Insights
Based on property information with market context.
This is a three-story medical office building with a finished and unfinished basement, available for sale or lease. It presents an ideal opportunity for a user or owner. Up to 8,509 square feet is available for lease, or the entire building can be purchased with an existing tenant occupying 3,966 square feet, providing immediate income. The property benefits from a highly visible location, situated 4/10th of a mile from Pascack Valley Medical Center, which is part of Hackensack Meridian. It is also located across the street from a retail plaza anchored by Shop Rite and is just minutes from downtown Westwood.
Key Highlights
- Free‑standing Medical Office Building: Ideal for owner/user or investment.
- Highly Visible Location: Close proximity to Pascack Valley Medical Center.
- Income Potential: Existing tenant occupies 3,966 sq. ft.
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
$130,188
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
3.38%
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%
$2,603,760
$2.6M
Cap Rate 7%
$1,859,829
$1.9M
Cap Rate 9%
$1,446,533
$1.4M
Market Conditions
NOI Build-Up for 8,509 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
$255.3K $30.00/SF
− Vacancy
−$81.7K −$9.60/SF
EGI
$173.6K $20.40/SF
− OpEx
−$43.4K −$5.10/SF
NOI
$130.2K $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%
$2,603,760
Cap Rate 7%
$1,859,829
Cap Rate 9%
$1,446,533
Alternative Uses
Best Use
Office B
$1.86M
$1.63M – $2.17M
NOI $130,188 @ 7.0% cap · market cap 3.38%
Second Best
Healthcare Medical
$1.81M
$1.58M – $2.11M
NOI $126,696 @ 7.0% cap · market cap 3.29%
Theoretical Best
Office A
$2.22M
$1.94M – $2.59M
NOI $155,531 @ 7.0% cap · market cap 4.03%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
904
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 07630, NJ
7,290
Population
2,641
Households
2.8
Avg Household Size
44
Median Age
55%
College-Educated
98%
High-School Grad
2.2 sq mi
ZIP Area
3,314
Density / Sq Mi
$153,963
Median Household Income
$69,842
Median Earnings
$1,926
Median Rent
$626,000
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?
Medical Office Space - Three-story medical office building near Pascack Valley Medical Center.
Where is this medical office space located?
The property is located at 440 Old Hook Emerson, NJ.
What is the asking price?
The asking price for this property is $3,856,173.
What are key features of this property?
This property features: Free‑standing Medical Office Building: Ideal for owner/user or investment.; Highly Visible Location: Close proximity to Pascack Valley Medical Center.; Income Potential: Existing tenant occupies 3,966 sq. ft.
