REQUEST A TOUR If you would like to see this home without being there in person, select the "Virtual Tour" option and your agent will contact you to discuss available opportunities.
In-PersonVirtual Tour
$ 1,000,000
Est. payment /mo
New
506 4TH AVE W Palmetto, FL 34221
3,213 SqFt
UPDATED:
Key Details
Property Type Other Types
Sub Type Medical Office
Listing Status Active
Purchase Type For Sale
Square Footage 3,213 sqft
Price per Sqft $311
Subdivision East Palmetto
MLS Listing ID A4703877
HOA Y/N No
Year Built 1978
Annual Tax Amount $8,760
Lot Size 0.600 Acres
Acres 0.6
Property Sub-Type Medical Office
Source Stellar MLS
Property Description
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.
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.
Location
State FL
County Manatee
Community East Palmetto
Area 34221 - Palmetto/Rubonia
Zoning CG
Direction W
Interior
Cooling Central Air
Exterior
Utilities Available Electricity Available
View Y/N No
Water Access No
Roof Type Shingle
Building
Foundation Block
Lot Size Range 1/2 to less than 1
Structure Type Block,Concrete,Stucco
New Construction false
Others
Ownership Fee Simple
Special Listing Condition None
© 2026 My Florida Regional MLS DBA Stellar MLS. All Rights Reserved.
Listed by Lily Behrends RE/MAX ALLIANCE GROUP
