New Listing - 01/22/2025

$1,150,000 ($821.43 per sqft)

Est. Mortgage $5,665/mo *

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Listing courtesy of POLJAN PROPERTIES INC Phone: (718) 484-4776

1103 CORTELYOU Road, #CF, Brooklyn, (Ditmas Park), NY, 11218

1103 CORTELYOU Road, #CF, Brooklyn, (Ditmas Park), NY, 11218
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8 rooms

0 beds

1 Half baths

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

Town:

Brooklyn

Type:

Condo

Laundry Remarks:

Building Other

Units:

0

Basement:

Other

Common Charge:

$915 Monthly

HOA Fee

$915

Pet Policy:

Building Yes, Yes

MLS #:

RLS11030169

Community Info

School Info

Walk Score

Mass Transit

Yelp

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