5440-5460 63rd St E
Bradenton, FL 34203
Office Property For Sale

Marcus & Millichap, as exclusive advisor, is pleased to present River Landings Medical Center located at 5460 E 63rd Street in Bradenton, FL. The subject property is improved with a one story, 9,582 rentable square foot class B Medical Office building constructed in 1998. The improvements sit on approximately 1.48 acres and consist of three rentable units separately metered for power supply and HVAC. The property provides 50 free surface parking spaces which equates to a 5.22 per 1,000 parking ratio. Two tenants currently occupy 6,846 rentable square feet. One suite is currently vacant and available for lease at $23.50 per square foot to qualified medical tenants. River Landings Medical Center is located off of State Road 70, a major east-west thoroughfare in Bradenton with approximately 53,857 vehicles per day traffic count. The property is in close proximity to major commercial, residential and hospitality development. It is directly across the street from Manatee Technical College. A vacant former BB&T Bank branch is currently under contract directly north of the subject property with a list price of $1,500,000 or $234.00 per square foot. The subject property is in near proximity to Manatee Memorial and Blake Hospitals to the west and Lakewood Ranch Medical Center, Doctors Hospital and Sarasota Memorial Hospital to the South. River Landings Medical Center offers a potential investor or owner/user to acquire a well located asset with a strong occupancy history. The two in-place tenants have been in place for over five years and ten years respectively. Family Home Health Services is a well reputable home-health agency with a significant presence in the area as the senior population (75+) is 20% of the population profile within a 1-mile area. By leasing out the remaining vacant unit, an investor can realize a capitalization rate of 9.47%.