$845,000
506 4th AvenuePalmetto, FL 34221
Listing updated: October 1, 2026 at 3:12 PM ET
Listing courtesy of Re/Max Alliance Group · Lily Behrends · MLS #A4703877 · Active · 941-360-7777Property type
Year built
Lot size
Price / sq ft
HOA dues
Days on market
Flood zone
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.
Estimated monthly payment
Estimate only. Taxes use the listing's reported amount where available; insurance is a Florida-average estimate. Your actual payment will vary — run a full calculation or talk to a lender.
Price & listing history38 days on market
- Status: ActiveAug 24, 2026
- Listed$1,000,000Aug 24, 2026
- Price reduced$845,000
Facts & features
- Property type
- Commercial Sale
- Sub type
- Medical Office
- Status
- Active
- Days on market
- 38
- Subdivision
- East Palmetto
- County
- Manatee
- Year built
- 1978
- Living area
- 3,171 sq ft
- Price/sq ft
- $263
- Building area
- 3,213 sq ft (Public Records)
- Lot size
- 26,127 sq ft
- Lot category
- 1/2 to less than 1
- Flood zone
- AE (12081C0164F)
- Annual taxes
- $8,760 (2025)
- Parcel #
- 2798810159
- Zoning
- CG
- MLS #
- A4703877
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Heating & Cooling
- Cooling
- Central Air
HOA & Financial
- Total monthly fees
- None
- Total annual fees
- None
- Ownership
- Fee Simple
Exterior & Construction
- Construction materials
- Block, Concrete, Stucco
- Roof
- Shingle
- Foundation
- Crawlspace
- Road surface
- Asphalt
Utilities
- Utilities
- Electricity Available
Listing Details
- Listing date
- 2026-08-22
- On market date
- 2026-08-24
- Original list price
- $1,000,000
- Occupant type
- Tenant
- MLS area
- 34221 - Palmetto/Rubonia
- Listing AOR
- Sarasota - Manatee
- Status changed
- 2026-08-24
- Tax legal description
- THE S 115 FT OF LOTS 1-4 & THE S 115 FT OF THE E 45 FT OF LOT 5, BLK Q, E PALMETTO SUB. PI #2798.1015/9
Flood risk
FEMA Special Flood Hazard Area (1% annual-chance / “100-year” floodplain). Flood insurance is generally required by mortgage lenders.
Source: FEMA flood zone reported on the listing. Confirm current designation at FEMA Flood Map Service Center.
Location
Directions
Take Manatee Ave - SR 64 to US41 North. Go North on US-41 N (Turns into 14th St W in Bradenton). Cross over Manatee River on the Green Bridge / US-41 N into Palmetto. Continue on US-41 N / 8th Ave W as you enter Palmetto. Turn left onto 10th St W (or 5th St W depending on precise block routing). Take to 4th Ave W, to 506 4th Ave W (located near Lincoln Memorial Middle School).
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Listings courtesy of Stellar MLS as distributed by MLS GRID
IDX information is provided exclusively for consumers’ personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing.
Based on information submitted to the MLS GRID as of October 1, 2026 at 3:12 PM ET. All data is obtained from various sources and may not have been verified by broker or MLS GRID. Supplied Open House Information is subject to change without notice. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.
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