Listing Courtesy of: Peter Poljan - Poljan Properties Inc.
718-484-4776
$1,150,000
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1103 Cortelyou Rd Unit CF Brooklyn, NY 11218
Condo
Residence
Beds
2
Baths
...
Bed/Bath
1,400
Sq. Ft.
Property Activity
Time on Site
days
Days on Market
Views
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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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MLS#
H6306064
Property Type
Condo
Bathrooms
2 Half
Year Built
2007
HOA Fee
$915
Monthly
Square Feet
1,400
sq. ft
Sewer
Public Sewer
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