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 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.
| MLS # | A4703877 |
|---|---|
| Listing Type | For Sale |
| Style | Medical Office |
| Sub-Type | For-sale |
| Status | Active |
| Year | 1978 |
| Days On Site | 62 |
| Listing Provided By | RE/MAX ALLIANCE GROUP | Lily Behrends |
| SQ Feet | 3,171 |
|---|---|
| Zoning | CG |
| Acreage | 0.60 |
| Property | 8760 |
|---|
| State | FL |
|---|---|
| County | Manatee |
| City | PALMETTO |
| Zip Code | 34221 |
| Area | 34221 Palmetto | Rubonia |
| Community Name | EAST PALMETTO |
| Listing VS Median (in EAST PALMETTO) | |
Price: $845,000 low | high Med: $423,250 sqft: 3,171 low | high Med: 2,036 $ / sqft: $266 low | high Med: $134 On site: 62 low | high Med: 35.5 | |
| State | FL |
|---|---|
| County | Manatee |
| City | PALMETTO |
| Zip Code | 34221 |
| Area | 34221 Palmetto | Rubonia |
| Community Name | EAST PALMETTO |
| Listing VS Median (in EAST PALMETTO) | |
Price: $845,000 low | high Med: $423,250 sqft: 3,171 low | high Med: 2,036 $ / sqft: $266 low | high Med: $134 On site: 62 low | high Med: 35.5 | |