506 4th Ave W, Palmetto | Leased Medical Office CAP rate 6.26.
$845,000 · 3,171 SF · NOI $59,556 Fully leased, single-tenant medical office occupied by Millennium Medical on a NNN lease with annual rent escalations and two 2-year renewal options — a passive, inflation-hedged income stream with no landlord responsibility… Read More for taxes, insurance, or maintenance.
The purpose-built medical layout includes seven exam rooms, three private physician offices, a dedicated lab, and a staff kitchen/lounge. Three new HVAC systems were recently installed, eliminating the largest near-term capital expense a buyer would otherwise face.
At $315/SF with in-place NNN rent of $18.78/SF, the property offers durable cash flow with built-in growth in Palmetto's expanding Manatee County medical corridor. Read Less
Courtesy of RE/MAX ALLIANCE GROUP 941-360-7777
Listing Snapshot
Days Online
66
Last Updated
Property Type
Medical Office
Square Ft.
3,213
Lot Size
0.6 Acres
Year Built
1978
MLS Number
A4703877
Additional Details
Property Access
Frontage Type: City Street, Road Surface: Asphalt
Building
Built in 1978, Living area: 3171, Living area units: Square Feet, Construction Materials: Block, Concrete, Stucco
Cooling
Central Air
Foundation
Crawlspace
Income
Net Operating Income: $59,556
Lot
0.6 acres
Roof
Shingle
Taxes
Additional parcels description:, Parcel Number: 2798810159, Public Survey Range: 17, Public Survey Section: 14, Annual Amount: $8,760, Tax Block: Q, Tax Book Number: 1-161, Legal Description: THE S 115 FT OF LOTS 1-4 & THE S 115 FT OF THE E 45 FT OF LOT 5, BLK Q, E PALMETTO SUB. PI #2798.1015/9, Lot: 5, Year: 2025, Zoning: CG
Utilities
Electricity Available
Windows
Window Treatments
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