Your email has been sent.
4502 Cortez Rd W - BMO Building 12,686 SF Office Condo Unit Offered at $6,296,871 in Bradenton, FL 34210
Investment Highlights
- Stabilized $408,781 Year 1 NOI with contractual annual escalations
- $496.36/SF based on tax records (12,686 SF)
- Investment grade BMO Harris Bank N.A. as second largest tenant
- 6.50% going-in cap rate · $495.74/SF on 12,686 SF
- 17-year primary term on Florida State Government anchor (through Oct 2042)
- $7.06M total contracted base rent across all five leases
Executive Summary
4502 Cortez Rd W is a Class A multi-tenant professional office building located along one of Bradenton’s primary commercial corridors. The three-story building contains approximately 25,893 SF on 2.04 acres and features strong visibility along Cortez Road with convenient access to surrounding retail, residential, and medical services. The property is anchored by high-quality credit tenants, including a national bank branch and a long-term government agency, providing stable occupancy and strong institutional tenancy. The tenant mix includes professional office, medical, and service-oriented users that benefit from the building’s central location and steady daytime population. The property offers approximately 130 parking spaces (5.02/1,000 SF ratio), elevator access, monument and building signage opportunities, and well-maintained common areas. Its location along Cortez Road provides excellent accessibility to Bradenton, Sarasota, and the greater Tampa Bay region. With a strong tenant roster, strategic location, and professional office environment, 4502 Cortez Rd W presents a compelling investment opportunity in one of Manatee County’s established office corridors.
1 Unit Available
Unit Multiple U
| Unit Size | 12,686 SF | Sale Type | Investment |
| Price | $6,296,871 | Cap Rate | 6.49% |
| Price Per SF | $496.36 | NOI | $408,781 |
| Condo Use | Office | Sale Conditions | Bulk/Portfolio Sale |
| Unit Size | 12,686 SF |
| Price | $6,296,871 |
| Price Per SF | $496.36 |
| Condo Use | Office |
| Sale Type | Investment |
| Cap Rate | 6.49% |
| NOI | $408,781 |
| Sale Conditions | Bulk/Portfolio Sale |
Description
Investment office condominium located within Bradenton Office Center at 4502 Cortez Rd W in Bradenton, Florida. The property is part of a professionally maintained three story office building featuring masonry construction, elevator service, and ample on site parking (130 spaces, 5.02/1,000 SF ratio). The condominium supports a diversified five-tenant mix anchored by a Florida State Government agency (Florida Department of Children & Families) and an investment grade national banking institution (BMO Harris Bank), supported by financial services, media, and staffing tenants providing strong credit tenancy and stable, long term occupancy. NRJ's ownership represents 4 of 9 condominium units totaling 12,686 SF (47.66% of the building), the dominant single ownership interest. The building benefits from visibility along Cortez Road, one of Bradenton's primary commercial corridors, with convenient access to surrounding retail, medical, and residential developments.
Sale Notes
Stabilized investment opportunity producing $408,781 in Year 1 net operating income, growing through contractual annual escalations across all five tenant leases. Based on a 6.50% going-in capitalization rate, the indicated property value is approximately $6,289,000, or $495.74 per square foot on 12,686 SF of NRJ-owned condominium space (4 of 9 units, representing 47.66% of the 25,893 SF building).
The portfolio is anchored by the Florida Department of Children & Families, a State of Florida government agency, occupying 4,999 SF under a primary lease term running through October 2042 (17-year base term). The second largest tenant, BMO Harris Bank N.A. (NYSE: BMO; $1.3T+ in assets), occupies 3,987 SF under a lease running through July 2033 with renewal options at market rent.
Total contracted base rent across all five leases exceeds $7.06M over the remaining terms. Weighted average lease term is approximately 12.8 years (weighted by Year 1 rent), positioning this portfolio with one of the longest income horizons available in the Bradenton office market.
The State of Florida is rated among the strongest state credits in the United States, and BMO Financial Group carries investment grade ratings from Moody's, S&P, and Fitch providing institutional-grade tenant credit at the core of the income streamThe national bank tenant carries investment grade credit ratings, while the government tenant represents lease obligations associated with the State of Florida, which is rated among the strongest state credits in the United States.
4502-Cortez-Rd-W-Bradenton-FL-Building-Photo-2-LargeHighDefinition_cleanup (1)
Property Facts
| Total Building Size | 25,893 SF | Typical Floor Size | 8,631 SF |
| Property Type | Office (Condo) | Year Built | 2006 |
| Property Subtype | Medical | Lot Size | 2.00 AC |
| Building Class | A | Parking Ratio | 5.02/1,000 SF |
| Floors | 3 | ||
| Zoning | C3, Bradenton - Office | ||
| Total Building Size | 25,893 SF |
| Property Type | Office (Condo) |
| Property Subtype | Medical |
| Building Class | A |
| Floors | 3 |
| Typical Floor Size | 8,631 SF |
| Year Built | 2006 |
| Lot Size | 2.00 AC |
| Parking Ratio | 5.02/1,000 SF |
| Zoning | C3, Bradenton - Office |
Amenities
- 24 Hour Access
- Atrium
- Banking
- Controlled Access
- Property Manager on Site
- Signage
- Air Conditioning
NNN Tenant Information Click Here to Access
| TENANT | SF Occupied | LEASE END DATE |
|---|---|---|
| Florida Department of Children and Families |
99,999 SF SF
|
Jan 0000
|
| BMO |
99,999 SF SF
|
Jan 0000
|
| Centrus Financial Strategies |
99,999 SF SF
|
-
|
| Zion Media |
99,999 SF SF
|
-
|
Presented by
4502 Cortez Rd W - BMO Building
Hmm, there seems to have been an error sending your message. Please try again.
Thanks! Your message was sent.