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!
Property Type
ResidentialCounty
Kings (Brooklyn)Style
OtherAD ID
48402089
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BuyOwner last updated this listing 01/30/2025 @ 12:22
- MLS: H6306064
- LISTING PROVIDED COURTESY OF: ,
- SOURCE: OneKey
is a Home, with bedrooms which is for sale, it has 1,400 sqft, 1,400 sized lot, and 0 parking. A comparable Home, has bedrooms and baths, it was built in and is located at and for sale by its owner at . This home is located in the city of Brooklyn , in zip code 11218, this Kings (Brooklyn) County Home , it is in the Rural Tract (No Subd) Subdivision, are nearby neighborhoods.