$799,000
0 ba 4,336 sqft
712 61st St E
Palmetto, FL 34221 · Acreage
Courtesy of KELLER WILLIAMS ON THE WATER
$845,000
506 4th Ave WPalmetto, FL 34221
- 0 beds
- 0 baths
- 3,171 sqft
- 0.6 acres
- 74 days on market
1 / 13
About this home
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.
Facts
- Property type
- Medical Office
- Year built
- 1978
- Lot size
- 0.6 acres
- Waterfront
- No
- Subdivision
- EAST PALMETTO
- County
- Manatee
- Annual taxes
- $8,760 (2025)
- Flood zone
- AE
- New construction
- No
- MLS #
- A4703877
Features
- Cooling
- Central Air
- Construction
- Block, Concrete, Stucco
- Roof
- Shingle
- Utilities
- Electricity Available
Location
Listing courtesy of RE/MAX ALLIANCE GROUP.
MLS # A4703877.
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Courtesy of KELLER WILLIAMS ON THE WATER
Listing information is provided by Participants of the Stellar MLS. IDX information is provided exclusively for personal, non-commercial use, and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information is deemed reliable but not guaranteed. Properties displayed may be listed or sold by various participants in the MLS Copyright 2026, Stellar MLS. Last updated: 2026-11-04 6:30 PM EST.