1 Bath 1,400 Sq.Ft.
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!
Poljan Properties was founded in 2012 with a passion to provide New Yorkers and newcomers with exceptional personalized service, advice, and uncompromised loyalty. We work tirelessly for the best outcomes for our clients and do so with the greatest integrity and kindness.
