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Description
506 4th Ave W, Palmetto | Leased Medical Office $1,000,000 3,171 SF NOI $59,556Fully 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.
Property Highlights
Property Type: Commercial - Medical
Cooling: Central Air
Lot Size: 0.60 Acres
Roof Type: Shingle
Taxes: $8,760
Year Built: 1978
General Information
County: Manatee
Subdivision: EAST PALMETTO
Listed By:
Lily Behrends
RE/MAX ALLIANCE GROUP
941-360-7777
MLS ID: A4703877
Property Features
Days on Site: 4
Directions: Take Manatee Ave - SR 64 to US41 North. Go North on US-41 N (Turns into 14th St W in Bradenton). Cross over Manatee River on the Green Bridge / US-41 N into Palmetto. Continue on US-41 N / 8th Ave W as you enter Palmetto. Turn left onto 10th St W (or 5th
Exterior: Block, Concrete, Stucco
Flood Zone Code: AE
Foundation: Crawlspace
Home Warranty Y/N: No
Lot Dimensions: 0.6
Number of Offices: 10
Ownership: Fee Simple
Property Attached Y/N: No
Property Sub-Type: Medical Office
Sale Includes: Furniture/Fixtures
Showing Instructions: Call Before Showing, Contact Call Center
Special Sale Provisions: None
Utilities: Electricity Available
Water Access Y/N: No
Windows: Window Treatments
Zoning: CG
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506 4th Avenue W, Palmetto, FL 34221.
About this area
About Palmetto
Palmetto is a growing suburban area located between the Manatee River and Terra Ceia Bay. The city is perfect for people looking for an active lifestyle that involves nature and community activities. Palmetto’s location keeps residents close to major employers, but also allows for a smaller town lifestyle that embraces a slower pace. Weekends are perfect for boating and golfing, or attending one of the many events and festivals that take place in Palmetto year round. The area is great for people of all ages with homes ranging from affordable condos and single family options to waterfront estates.