1101-1103 Cortelyou Rd - Retail FOR SALE


Brooklyn, NY 11218- Flatbush-Ditmas Park
$1,150,000 USD
407-341-3254
1101-1103 Cortelyou Rd, Brooklyn, NY for Sale
$1,150,000 USD
Retail - FOR SALE
1/21
null | 5.7% Cap Rate

1101-1103 Cortelyou Rd
Brooklyn, NY 11218
Flatbush-Ditmas Park


OVERVIEW

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!

FOR SALE DETAILS

PRICE

$1,150,000 USD

PRICE/SF

$58 USD /SF

CAP RATE

5.7%

% LEASED

-

TENANCY

Multiple

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Stratford Cortelyou Condominiums

PROPERTY TYPE

Retail

TOTAL BUILDING SIZE

-

STORIES

5

YEAR BUILT

2007

SPRINKLERS

-

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.15 AC

LAND SF

6,534 SF

ZONING

R6

APN/PARCEL ID

05142-1018,05142-1029

ASK ABOUT THIS PROPERTY

Krissy MussendenBuckingham InvestmentsMore Info
407-341-3254

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.

Krissy MussendenBuckingham InvestmentsMore Info
407-341-3254

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.