New Listing - 01/21/2025
1103 Cortelyou Road, #CF, Brooklyn, NY, 11218
8 rooms
0 beds
2 Half baths
2007
Other
1,400 sqft
Turnkey medical office condo investment! Located on bustling Cortelyou Road, in the heart of Ditmas Park, this 1,400 sq. ft. property offers a functional layout with four exam rooms, a large open recreational room, a waiting area, two bathrooms, a kitchen, two entrances, and a dedicated storage unit. Approved for medical office or community facility use only, it ensures continued demand from similar tenants. Cortelyou Road is a lively corridor known for its local charm and convenience, surrounded by popular restaurants, cafes, and shops, including Lea''s, Mimi''s Hummus, Madeline''s, Sycamore Bar & Flower Shop, George''s Diner, and the Flatbush Food Co-op. Kings Theater and Newkirk Avenue are also nearby. Commuting is easy with the Q train at Cortelyou Road offering a 35-minute ride to Union Square, and the B/Q trains at Newkirk Plaza providing access to downtown Manhattan in about 40 minutes. The office is fully leased to a well-established physical therapy practice, providing stable rental income and a cap rate of approximately 6%. The tenant pays $6,750 per month, with a 3% rent increase scheduled for August 2025 and subsequent annual increases thereafter. Additionally, the tenant covers real estate taxes, keeping ownership expenses low. Common charges are $873.69 per month for the office space and $41.57 per month for the storage unit. The current lease runs through July 31, 2028, offering long-term security for investors. With stable income, low operating costs, and a prime location in a vibrant neighborhood, this medical office condo presents a compelling investment opportunity. Contact us today for more information!
Status:
Active
Type:
Condo
Complex:
1103 Cortelyou Road
Heating:
Forced Air
Cooling:
Central Air
Basement:
None
Common Charge:
$915 Monthly
Est. Taxes:
$14,290
HOA Fee
$915
Construction
Other
Utilities
See Remarks
Elementary School:
Contact Agent
Middle School:
Contact Agent
High School:
Contact Agent
School District:
Community District 22
Pet Policy:
No Restrictions
Appliances:
Refrigerator
MLS #:
H6306064
Community Info
School Info
Walk Score
Mass Transit
Yelp
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Listing courtesy of Poljan Properties Inc. 718-484-4776