5101 4th Avenue Cir E
Bradenton, FL 34208
Coastal Center · Office Property For Sale

The Riverside Real Estate Company is pleased to present the opportunity to acquire a 18,501 SF medical office building in Bradenton, Florida. The property’s address is 5101 4th Avenue Circle East, Bradenton, Florida, 34208. It fronts on State Road 64 about 1.5 miles west of Interstate 75. This ideal location has a daily average traffic count of approximately 46,500. The property measures 1.69 acres and has 73 parking spaces. Also included in the sale is a nearby parking lot that is leased to one of the tenants, Coastal Orthopedics, through December 2024. It measures 0.61 acres and, when completed in early 2018, will contain 51 parking spaces that is 100 yards east of the building. The property is approximately midway between Manatee Memorial Hospital and Lakewood Ranch Medical Center. The property was constructed in 2004 and was extensively remodeled in 2014. There is no deferred maintenance. The property is leased to two tenants who have both been in occupancy since 2004. Coastal Orthopedics leases 13,122 SF until December 2024 and has two 5-year renewal options. Partners Imaging Center leases 5,379 SF until September 2019 and has four 3-year options. Partner’s has been renewing lease options since their lease first matured in 2014. They recently installed a new MRI, which required considerable construction and expense. Both leases are net, net, net and increase annually at the CPI rate. Both tenants have multiple office locations in Sarasota and Manatee Counties. The property’s Net Operating Income is $453,788, including rent for the Coastal parking lot.