506 4th Avenue W, Palmetto, FL 34221
- $1,000,000
- 3,171
- SqFt
- List Price
- $1,000,000
- Status
- Active
- Days on Market
- 1
- MLS#
- A4703877
- Property Style
- Medical Office
- Year Built
- 1978
- Living Area
- 3,171
- Lot Size
- 26,127
- Acres
- 0.60
- Total Acreage
- 1/2 to less than 1
- Legal Subdivision Name
- East Palmetto
- MLS Area Major
- Palmetto/Rubonia
Property 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.
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Additional Information
- Taxes Annual
- $8760
- Community Features
- No Deed Restriction
- Zoning
- CG
- Utilities
- Electricity Available
- Air Conditioning
- Central Air
- Exterior Construction
- Block, Concrete, Stucco
- Roof
- Shingle
- Foundation
- Crawlspace
- Pool
- No Pool
- Flood Zone Code
- AE
- Parcel ID
- 2798810159
- 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
Listing courtesy of RE/MAX ALLIANCE GROUP. 941-360-7777
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