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… Read More 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 6.6%. 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! Read Less
Listing Courtesy of: Dan Patsis, POLJAN PROPERTIES INC, 718-484-4776.
Listing Snapshot
Days Online
88
Last Updated
Property Type
Apartment
Partial Baths
1
MLS Number
RLS11030169
30 Days Snapshot Of 11218
$720k
-19%
(avg) sold price
8
-46%
homes sold
264
+40%
(avg) days on market
Snapshot
Area Map
Additional Details
Building
Entry Level: 1, Living Area Units: SquareFeet, Rooms Total: 8, Structure Type: HighRise
Exterior Features
Patio And Porch Features: None
Property
Property Sub Type: Apartment
Taxes
Tax Block: 05142, Tax Lot: 0000
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