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!
More Property Details
Animals Policy: No Restrictions
Half Bath: 2
Other: 6
Approx. Int. Sq. Ft.: 1400.00
Parking Facilities: None
Heat: Forced Air
A/C: Central Air
Water: Public
Sewer: Public Sewer
Taxes: $14,290
School District#: 1
School District: Contact Agent
Block: 05142
Lot: 1013