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355 Stratford Road, #CF, Brooklyn (Ditmas Park), NY, 11218 | $1,150,000
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!
Features
- Town: Brooklyn
- Cooling: Unknown Type
- Levels: 5
- Amenities: Garage; Roof Deck; Private Storage For Fee;
- Rooms: 8
- Baths: 1 half
- Complex: Stratford Cortelyou Condominiums
- Year Built: 2008
- Pet Policy: Pets Allowed
- Washer/Dryer Allowed: Yes
- Building Access : Elevator
- Service Level: Video Intercom
- OLR#: RPLU771023005669
- Days on Market: 1 day
- Website: https://www.raveis.com
/prop/RPLU771023005669/355stratfordroad_brooklyn_ny?source=qrflyer
All information is intended only for the Registrant’s personal, non-commercial use. This information is not verified for authenticity or accuracy and is not guaranteed and may not reflect all real estate activity in the market. RLS Data display by William Raveis Real Estate, Inc.Listing courtesy of Poljan Properties
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Sarah DeFlorioVP, Mortgage Banker, William Raveis Mortgage, LLC
NMLS Mortgage Loan Originator ID 1880936
347.223.0992
Sarah.DeFlorio@Raveis.com
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355 Stratford Road, #CF, Brooklyn (Ditmas Park), NY, 11218
$1,150,000
Customer Service
William Raveis Real Estate
Phone: 888.699.8876
Contact@raveis.com
Sarah DeFlorio
VP, Mortgage Banker
William Raveis Mortgage, LLC
Phone: 347.223.0992
Sarah.DeFlorio@Raveis.com
NMLS Mortgage Loan Originator ID 1880936
|
5/6 (30 Yr) Adjustable Rate Jumbo* |
30 Year Fixed-Rate Jumbo |
15 Year Fixed-Rate Jumbo |
|
|---|---|---|---|
| Loan Amount | $920,000 | $920,000 | $920,000 |
| Term | 360 months | 360 months | 180 months |
| Initial Interest Rate** | 5.375% | 6.250% | 5.750% |
| Interest Rate based on Index + Margin | 8.125% | ||
| Annual Percentage Rate | 6.550% | 6.346% | 5.907% |
| Monthly Tax Payment | N/A | N/A | N/A |
| H/O Insurance Payment | $125 | $125 | $125 |
| Initial Principal & Interest Pmt | $5,152 | $5,665 | $7,640 |
| Total Monthly Payment | $5,277 | $5,790 | $7,765 |
* The Initial Interest Rate and Initial Principal & Interest Payment are fixed for the first and adjust every six months thereafter for the remainder of the loan term. The Interest Rate and annual percentage rate may increase after consummation. The Index for this product is the SOFR. The margin for this adjustable rate mortgage may vary with your unique credit history, and terms of your loan.
** Mortgage Rates are subject to change, loan amount and product restrictions and may not be available for your specific transaction at commitment or closing. Rates, and the margin for adjustable rate mortgages [if applicable], are subject to change without prior notice.
The rates and Annual Percentage Rate (APR) cited above may be only samples for the purpose of calculating payments and are based upon the following assumptions: minimum credit score of 740, 20% down payment (e.g. $20,000 down on a $100,000 purchase price), $1,950 in finance charges, and 30 days prepaid interest, 1 point, 30 day rate lock. The rates and APR will vary depending upon your unique credit history and the terms of your loan, e.g. the actual down payment percentages, points and fees for your transaction. Property taxes and homeowner's insurance are estimates and subject to change.
William Raveis Mortgage, LLC, NMLS ID 2630, 7 Trap Falls Road, Shelton, CT 06484
NY Licensed Mortgage Banker-NYS Banking Department LMBC 106535