2 Baths
1,400 SqFt
2 Baths
1,400 SqFt
Key Details
Property Type Condo
Sub Type Condominium
Listing Status Active
Purchase Type For Sale
Square Footage 1,400 sqft
Price per Sqft $821
Subdivision 1103 Cortelyou Road
MLS Listing ID KEYH6306064
Style Other
Half Baths 2
HOA Fees $915/mo
Originating Board onekey2
Rental Info No
Year Built 2007
Annual Tax Amount $14,290
Property Description
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!
Location
State NY
County Kings (brooklyn)
Rooms
Basement None
Interior
Interior Features High Ceilings
Heating Forced Air
Cooling Central Air
Fireplace No
Appliance Refrigerator
Exterior
Parking Features None
Utilities Available See Remarks
Garage false
Building
Sewer Public Sewer
Water Public
Structure Type Other
Schools
Elementary Schools Contact Agent
Middle Schools Contact Agent
High Schools Contact Agent
School District Brooklyn 22
Others
Senior Community No
Special Listing Condition None
Pets Allowed No Restrictions
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Licensed Real Estate Salesperson | License ID: 10401267947