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4502 Cortez Rd W
Bradenton, FL 34210 Bradenton

$6,296,871 USD

Medical Condo For Sale  •  12,686 SF

Property Details

  • Property Type Medical
  • Total Building Size 25,893 SF
  • Lot Size 2 AC
  • Building Class A
  • Year Built 2006
  • Tenancy Multiple
  • Zoning C3, Bradenton
30 Transit Score
50 Walk Score

1 Unit Available

Name Condo Use Size Price Details
1st Floor - Unit Multiple U Office 12,686 SF $6,296,871 USD
  • Unit Size: 12,686 SF
  • Condo Use: Office
  • Price: $6,296,871 USD
  • Sale Type: Investment
  • Price/SF: $496.36 USD
Description
Investment office condominium located within Bradenton Office Center at 4502 Cortez Rd W in Bradenton, Florida. The property is part of a professionally maintained three story office building featuring masonry construction, elevator service, and ample on site parking (130 spaces, 5.02/1,000 SF ratio). The condominium supports a diversified five-tenant mix anchored by a Florida State Government agency (Florida Department of Children & Families) and an investment grade national banking institution (BMO Harris Bank), supported by financial services, media, and staffing tenants providing strong credit tenancy and stable, long term occupancy. NRJ's ownership represents 4 of 9 condominium units totaling 12,686 SF (47.66% of the building), the dominant single ownership interest. The building benefits from visibility along Cortez Road, one of Bradenton's primary commercial corridors, with convenient access to surrounding retail, medical, and residential developments.

Sale Notes
Stabilized investment opportunity producing $408,781 in Year 1 net operating income, growing through contractual annual escalations across all five tenant leases. Based on a 6.50% going-in capitalization rate, the indicated property value is approximately $6,289,000, or $495.74 per square foot on 12,686 SF of NRJ-owned condominium space (4 of 9 units, representing 47.66% of the 25,893 SF building).
The portfolio is anchored by the Florida Department of Children & Families, a State of Florida government agency, occupying 4,999 SF under a primary lease term running through October 2042 (17-year base term). The second largest tenant, BMO Harris Bank N.A. (NYSE: BMO; $1.3T+ in assets), occupies 3,987 SF under a lease running through July 2033 with renewal options at market rent.
Total contracted base rent across all five leases exceeds $7.06M over the remaining terms. Weighted average lease term is approximately 12.8 years (weighted by Year 1 rent), positioning this portfolio with one of the longest income horizons available in the Bradenton office market.
The State of Florida is rated among the strongest state credits in the United States, and BMO Financial Group carries investment grade ratings from Moody's, S&P, and Fitch providing institutional-grade tenant credit at the core of the income streamThe national bank tenant carries investment grade credit ratings, while the government tenant represents lease obligations associated with the State of Florida, which is rated among the strongest state credits in the United States.

Description 

4502 Cortez Rd W is a Class A multi-tenant professional office building located along one of Bradenton’s primary commercial corridors. The three-story building contains approximately 25,893 SF on 2.04 acres and features strong visibility along Cortez Road with convenient access to surrounding retail, residential, and medical services.
The property is anchored by high-quality credit tenants, including a national bank branch and a long-term government agency, providing stable occupancy and strong institutional tenancy. The tenant mix includes professional office, medical, and service-oriented users that benefit from the building’s central location and steady daytime population. The property offers approximately 130 parking spaces (5.02/1,000 SF ratio), elevator access, monument and building signage opportunities, and well-maintained common areas. Its location along Cortez Road provides excellent accessibility to Bradenton, Sarasota, and the greater Tampa Bay region.
With a strong tenant roster, strategic location, and professional office environment, 4502 Cortez Rd W presents a compelling investment opportunity in one of Manatee County’s established office corridors.

Highlights

Stabilized $408,781 Year 1 NOI with contractual annual escalations
6.50% going-in cap rate · $495.74/SF on 12,686 SF
$496.36/SF based on tax records (12,686 SF)
17-year primary term on Florida State Government anchor (through Oct 2042)
Investment grade BMO Harris Bank N.A. as second largest tenant
$7.06M total contracted base rent across all five leases

Amenities

  • 24 Hour Access
  • Atrium
  • Banking
  • Controlled Access
  • Property Manager on Site
  • Signage
  • Air Conditioning

Public Transportation

AirportDriveWalkDistance
Sarasota/Bradenton International 15 min - 7.5 mi

Parking Details

Parking Available: Yes
Reserved: No
Spaces Provided: 130
Type: Surface
Included in Rent: Yes
Mercedes Martin 954-881-9580 eXp Commercial
Mercedes Martin 954-881-9580 eXp Commercial