$845,000
506 4TH AVE W, Palmetto, FL 34221
Commercial
For Sale
3,171
Sq Ft
1978
Year Built
Description
506 4th Ave W, Palmetto | Leased Medical Office CAP rate 6.26. $845,000 · 3,171 SF · NOI $59,556 Fully 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.
Listing courtesy of Lily Behrends, RE/MAX ALLIANCE GROUP
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Data courtesy of Stellar MLS as distributed by MLS Grid as of Oct 1, 2026, 3:12 PM ET
