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About this home

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.

Details

Property typeMedical Office

StatusFor Sale

CountyManatee

Year built1978

Lot size0.6 acres

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Sarah Lowry — (941) 400-9026

Jackie Lowry — (941) 414-1748

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The Lowry Group · Coldwell Banker Realty
8334 Market St, Lakewood Ranch, FL 34202

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Listed by Lily Behrends of RE/MAX ALLIANCE GROUP

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