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ActivePrice improved $155,00038 days on market
$845,000$1,000,000
506 4TH AVE WPALMETTO, FL 34221EAST PALMETTO · Medical Office
3,171Sq ft
0.6 acLot
1978Built
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…
Description as provided by the listing brokerage.
The details
StatusActive
MLS #MFRA4703877
Property typeMedical Office
Year built1978
Lot size0.6 ac
Living area3,171 sq ft
Price per sq ft$266
Taxes$8,760 (2025)
Days on market38
CountyManatee
Flood zoneAE (verify)
ListedAug 21, 2026
Features & property details
Interior
WindowsWindow Treatments
CoolingCentral Air
Exterior & lot
Road surfaceAsphalt
Construction
ConstructionBlock, Concrete, Stucco
FoundationCrawlspace
RoofShingle
Living area sourcePublic Records
Building area (sq ft)3,213
Pool & water
Waterfront feet0
Community & HOA
Total monthly fees$0
Total annual fees$0
Utilities & efficiency
UtilitiesElectricity Available
Financial & terms
Tax year2,025
OwnershipFee Simple
Special conditionsNone
ZoningCG
OccupantTenant
MLS area34221 - Palmetto/Rubonia
Where it sits
Approximate location shown. Exact address available on request per listing brokerage.
More like this
Stellar MLSMLS# MFRA4703877Listing courtesy of RE/MAX ALLIANCE GROUPLast updated Oct 1, 2026, 3:12 PM