1103 Cortelyou Road #CF

New York, NY 11218
$1,150,000
#H6306064
For Sale

Description

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!
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  • Property Details
      • Interior:High Ceilings
      • Cooling:Central Air
      • Heating:Forced Air
      • Half Baths:2
      • Property type:Purchase
      • Year built:2007
      • Sewer information:Public Sewer
      • Utility source:Public
      • Utility features:See Remarks
      • Appliances:Refrigerator
      • Subdivision:1103 Cortelyou Road
      • School district:Brooklyn 22
      • Elementary School:Contact Agent
      • Middle School:Contact Agent
      • High School:Contact Agent
      • County:Kings (Brooklyn)
      • Original List Price:$1, 150, 000
      • Days on Market (Cumulative):1
      • Taxes annual:$14, 290
      • Hoa:1
      • Hoa fees:915.26
      • Pets Allowed:No Restrictions
      • MLS #:H6306064
      • Cost:1150000
      • Property subtype:Condominium
      • Parcel number:05142-1013
      • MLS #:H6306064

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Last Updated: . Source: ONEKEY

Listing Courtesy
Listing Agent: Peter J. Poljan
Listing Office: Poljan Properties Inc.

Keller Williams LandmarkAsk Vinny Thompson team
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10.0%

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6.0%

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2.6%
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    IDX information is provided exclusively for personal, non-commercial use, and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information is deemed reliable but not guaranteed.