$845,000

506 4TH AVE W, PALMETTO FL, 34221

Price per sqft$266.48

Built in1978

Property size3,171 sqft

Property typeCommercial

Courtesy of RE/MAX ALLIANCE GROUP, Lily Behrends Listing Contact: 941-360-7777

Overview

Active

Listed Aug 24, 2026

Updated 6 days ago

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.

Additional information

MLS^® ID: A4703877

Interior Features

Bathrooms: 0
Cooling: Yes
Basement: No

Exterior Features

Lot Size: 0.6 Acres

Other Property Details

Taxes: $8,760
Tax Frequency: Annually
Association Fee Frequency: Monthly

Listings courtesy of Stellar MLS as distributed by MLS GRID

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