3,171 SqFt
3,171 SqFt
Key Details
Property Type Other Types
Sub Type Medical Office
Listing Status Active
Purchase Type For Sale
Square Footage 3,171 sqft
Price per Sqft $315
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
$1,000,000 · 3,171 SF · NOI $59,556Fully 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.
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 Crawlspace
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
Schools and Properties Nearby
Find out why customers are choosing LPT Realty to meet their real estate needs
ptcomo@patcomofloridarealestate.com
1400 S International Pkwy, Lake Mary, FL 32746, USA