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506 4th Ave W
Palmetto, FL 34221
Office Property For Sale
Investment Highlights
- 100% Leased
- 7 exam rooms, 3 offices, reception area, staff lounge.
- 5.95% CAP Rate
Executive Summary
506 4th Ave W, Palmetto | 100% Leased Medical Office | 5.95% Cap Rate
$1,000,000 · 3,171 SF · NOI $59,556
Fully leased, single-tenant medical office occupied by Millennium Medical on a NNN lease with 3% 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.
Fully leased, single-tenant medical office occupied by Millennium Medical on a NNN lease with 3% 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.
$1,000,000 · 3,171 SF · NOI $59,556
Fully leased, single-tenant medical office occupied by Millennium Medical on a NNN lease with 3% 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.
Fully leased, single-tenant medical office occupied by Millennium Medical on a NNN lease with 3% 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 Facts
Sale Type
Investment NNN
Property Type
Office
Property Subtype
Medical
Building Size
3,213 SF
Building Class
C
Year Built
1978
Price
$1,000,000
Price Per SF
$311.24
Cap Rate
5.95%
NOI
$59,500
Tenancy
Single
Building Height
1 Story
Typical Floor Size
3,213 SF
Building FAR
0.12
Lot Size
0.60 AC
Zoning
CG
Parking
12 Spaces (4.01 Spaces per 1,000 SF Leased)
Property Taxes
| Parcel Number | 27988-1015-9 | Improvements Assessment | $265,806 |
| Land Assessment | $136,411 | Total Assessment | $402,217 |
Property Taxes
Parcel Number
27988-1015-9
Land Assessment
$136,411
Improvements Assessment
$265,806
Total Assessment
$402,217
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