506 4TH Avenue W, Palmetto, FL 34221
sale
$1,000,000
|
Office
Courtesy Of RE/MAX Alliance Group
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.
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Property Features
- Age: 41-50 Years Old
- Amenities: Wired
- Cooling System: Central Air
- Exterior Type: Concrete
- Exterior Type: Block
- Exterior Type: Stucco
- Legal Description: THE S 115 FT OF LOTS 1-4 & THE S 115 FT OF THE E 45 FT OF LOT 5, BLK Q, E PALMETTO SUB. PI #2798.1015/9
- MLSID: A4703877
- Roof Type: Shingle
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