Medical Office Campus with NNN
For Sale
$7,500,000
2902 59th St W, Bradenton, FL 34209
Medical-only office campus with renovated suites, covered parking, and a tenant mix of established healthcare practices.
Property Size30,189 SF
Days on Market154
Property Features for 2902 59th St W
General Information
Standard status
Active
Size
30,189 SF
Class
B
Property subtype
Office
Occupancy
92%
Additional Details
Road Access
Yes
Building Details
Building Size
30,189 SF
Year Built
1987
Year Renovated
2019
Tenancy
Multi
Listed By:
Angela Varga · License #FL BK3026434
(941) 932-7131
Source:
Gulfcoastcommercialgroup
Added: May 15
Changed: Oct 6
Last Checked: Oct 14 at 8:52PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Angela Varga
Investment Insights
Based on property information with market context.
Parkside Medical is a medical office property built in 1987 with suites serving surgery, laboratory, oral surgery, neurology, women’s care, dental, and primary care providers. Interior suites have been renovated, while the building exteriors and common areas received updated finishes in 2019. The property includes an open surface parking area, covered parking for tenants, and private covered rear entrances serving the suites.
The campus is positioned on 59th Street West between Manatee Avenue and Cortez Road, approximately half a mile south of HCA Florida Blake Hospital. GT Bray Community Park is across the street, and the surrounding medical area includes Pointe West Medical Area, Blake Park, Coast Orthopedic West, and Tanglewood Professional Park.
Occupancy is reported at 92%, with NNN leases in place and an established property management company overseeing the property. Most tenants have remained at the campus for more than 15 years.
The campus is positioned on 59th Street West between Manatee Avenue and Cortez Road, approximately half a mile south of HCA Florida Blake Hospital. GT Bray Community Park is across the street, and the surrounding medical area includes Pointe West Medical Area, Blake Park, Coast Orthopedic West, and Tanglewood Professional Park.
Occupancy is reported at 92%, with NNN leases in place and an established property management company overseeing the property. Most tenants have remained at the campus for more than 15 years.
Key Highlights
- Medical‑only tenant mix includes surgery centers, Labcorp, oral surgery, neurology, women’s care, dental, and primary care
- 92% occupied with NNN leases in place
- Interior suites renovated; exterior facades modernized and common areas refreshed in 2019
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$492,974
Cap Rate
6.57%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$9,859,480
$9.9M
Cap Rate 7%
$7,042,486
$7.0M
Cap Rate 9%
$5,477,489
$5.5M
Market Conditions
NOI Build-Up for 30,189 SF
Gross rent
$695.6K $23.04/SF
− Vacancy
−$38.3K −$1.27/SF
EGI
$657.3K $21.77/SF
− OpEx
−$164.3K −$5.44/SF
NOI
$493.0K $16.33/SF
Area
Manatee County, FL
Vacancy
5.50%
Lease Rate
$23.04 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$9,859,480
Cap Rate 7%
$7,042,486
Cap Rate 9%
$5,477,489
Alternative Uses
Best Use
Office B
$7.04M
$6.16M – $8.22M
NOI $492,974 @ 7.0% cap · market cap 6.57%
Second Best
Healthcare Medical
$6.66M
$5.83M – $7.77M
NOI $466,076 @ 7.0% cap · market cap 6.21%
Theoretical Best
Office A
$8.88M
$7.77M – $10.36M
NOI $621,435 @ 7.0% cap · market cap 8.29%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Open Analytics
Current Use
Lease Details
92%
Occupancy
Multi-tenant
Tenancy
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
622
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 34209, FL
32,940
Population
18,896
Households
1.7
Avg Household Size
58
Median Age
36%
College-Educated
93%
High-School Grad
12.6 sq mi
ZIP Area
2,614
Density / Sq Mi
$80,829
Median Household Income
$41,649
Median Earnings
$1,847
Median Rent
$357,300
Median Home Value
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Market
Vacancy Rate% for Office in South region
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Frequently Asked Questions
What type of property is this?
Medical Office Space - Medical-only office campus with renovated suites, covered parking, and a tenant mix of established healthcare practices.
Where is this medical office space located?
The property is located at 2902 59th St W Bradenton, FL.
What is the asking price?
The asking price for this property is $7,500,000.
What are key features of this property?
This property features: Medical‑only tenant mix includes surgery centers, Labcorp, oral surgery, neurology, women’s care, dental, and primary care; 92% occupied with NNN leases in place; Interior suites renovated; exterior facades modernized and common areas refreshed in 2019
