1055 Hooper Ave Toms River, NJ 08753

Property Details for 1055 Hooper Ave

Year built

2024

Lot size

8.89 lot acres

Property size

72,835 SF

Property type

Office Properties & Spaces

Property subtype

Medical offices

Description

This exceptional investment opportunity presents a fee-simple ownership of a brand-new, 72,835 square foot medical office building in Toms River, New Jersey. The property is fully occupied under a 20-year, triple-net lease with the U.S. Department of Veterans Affairs, commencing March 20, 2024, and expiring March 19, 2044. This is a first-generation lease with a credit-rated tenant, offering unparalleled income security and minimal landlord responsibilities. The building, constructed in 2024, features two stories and 480 parking spaces, situated on an 8.89-acre lot within the O15-Hooper/Caudina Redevelopment Zone. The tenant invested $34 million in tenant improvements ($465 per square foot), showcasing a significant commitment to the facility. This state-of-the-art clinic provides a wide range of services, including primary care, women's health, dental care, mental health services, pharmacy, radiology, MRI, physical therapy, and an ambulance bay. The property benefits from a prime location in Toms River, within the New York-New Jersey Metropolitan Statistical Area, offering strong residual value. The lease includes a base rent increase in year 11. This is a rare opportunity to acquire a secure, long-term investment with a financially strong, government-backed tenant. The property is located at 1055 Hooper Ave, Toms River, NJ 08753.