Ideal 1031 Exchange Opportunity- Absolute NNN
DaVita Dialysis property with an Absolute NNN lease in place
Marketing description
RIPCO Real Estate has been retained on an exclusive basis to arrange for the sale of 363 Old Hook Road, Westwood, NJ (the ?Property?). The Property is a freestanding, single-story retail/commercial building occupied by DaVita, Inc on an absolute NNN lease. Situated on approximately 0.46 acres along Old Hook Road, one of Westwood's primary commercial thoroughfares.
The site benefits from strong visibility, convenient access, and a surrounding trade area characterized by affluent residential neighborhoods and established retail and service uses. Located minutes from Westwood's downtown district and within close proximity to major regional roadways, the Property is well positioned to serve daily-needs retail, professional, medical, or service-oriented tenants.
363 Old Hook Road presents an attractive opportunity for an investor seeking a well-located Bergen County asset with upside potential due to undermarket rent in a supply-constrained market. Inquire with our exclusive brokers for additional information or to arrange a property inspection.
Investment highlights
- Exceptional Location & "Hospital Halo"
- Located in highly desirable Westwood, a dense residential area with nearby medical, retail, and schools that drive consistent traffic.
- Strategic Proximity: Located less than a 1/2 mile from Pascack Valley Medical Center, positioning the asset in one of Bergen County's premier medical corridors.
- Built-in Referral Ecosystem: Serves as a primary "overflow" and outpatient bridge for major regional health networks including The Valley Hospital, Hackensack University Medical Center, and Englewood Health.
- Zero Competitive Threat: The neighboring hospital currently lacks on-site outpatient dialysis, making your property an essential, non-competing partner in the local care cycle.
- Strong Financial Upside & Stability
- Lease in place through 9/30/2033 with three 5-year options. Below market rental rate.
- Guaranteed Rent Growth: A significant 7.5% rent increase (from $169,000 to $181,675) is scheduled in just 2 years, providing a built-in hedge against inflation.
- Recession-Resistant Tenant: DaVita (NYSE: DVA) is a market leader with a ~37% U.S. market share and strong 2026 financial guidance, projecting adjusted EPS well above analyst estimates.
- Triple-Net (NNN) Security: Medical office buildings (MOBs) continue to be a top-tier defensive asset class in New Jersey, with average MOB occupancy reaching 92.5% in 2025
- Advantageous Bergen County Demographics
- Aging Population: Westwood's population aged 65 and over is approximately 19.6%, creating a high-density, "sticky" patient base for dialysis services.
- High-Income Market: The median household income in Westwood is approximately $165,781, ensuring a strong commercial insurance mix the most profitable segment for dialysis providers.
- Limited Supply: New medical office construction in Northern NJ is at historically low levels, falling to roughly half of the past decade's average, which protects existing assets from new competition.
- Technical "Stickiness" High Replacement Cost: The specialized medical build-out and specialized plumbing required for a dialysis clinic make tenant relocation extremely expensive and unlikely.
- Mission-Critical Site: This faculty is not just a branch; it is an essential piece of infrastructure that supports regional hospital discharge planning.
- Exceptional Frontage & Visibility Prominent Old Hook Road frontage with high traffic counts and easy neighborhood access
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