<?xml version="1.0" encoding="UTF-8"?><edgarSubmission xmlns="http://www.sec.gov/edgar/schedule13D" xmlns:com="http://www.sec.gov/edgar/common">
  <headerData>
    <submissionType>SCHEDULE 13D</submissionType>
    <filerInfo>
      <filer>
        <filerCredentials>
          <!-- Field: Pseudo-Tag; ID: Name; Data: Carlson Marc -->
          <cik>0002050634</cik>
          <ccc>XXXXXXXX</ccc>
        </filerCredentials>
      </filer>
      <liveTestFlag>LIVE</liveTestFlag>



    </filerInfo>
  </headerData>
  <formData>
    <coverPageHeader>
      <securitiesClassTitle>Common Stock</securitiesClassTitle>
      <dateOfEvent>01/31/2025</dateOfEvent>
      <previouslyFiledFlag>true</previouslyFiledFlag>
      <issuerInfo>
        <issuerCIK>0001654595</issuerCIK>
        <issuerCUSIP>58403P402</issuerCUSIP>
        <issuerName>Medalist Diversified REIT, Inc.</issuerName>
        <address>
          <com:street1>P. O. Box 8436</com:street1>
          <com:city>Richmond</com:city>
          <com:stateOrCountry>VA</com:stateOrCountry>
          <com:zipCode>23226</com:zipCode>
        </address>
      </issuerInfo>
      <authorizedPersons>
        <notificationInfo>
          <personName>Brent Winn</personName>
          <personPhoneNum>804-338-7708</personPhoneNum>
          <personAddress>
            <com:street1>P. O. Box 8436</com:street1>
            <com:city>Richmond</com:city>
            <com:stateOrCountry>VA</com:stateOrCountry>
            <com:zipCode>23226</com:zipCode>
          </personAddress>
        </notificationInfo>
      </authorizedPersons>
    </coverPageHeader>
    <reportingPersons>
      <reportingPersonInfo>
        <reportingPersonCIK>0002050634</reportingPersonCIK>
        <reportingPersonNoCIK>N</reportingPersonNoCIK>
        <reportingPersonName>Marc Carlson</reportingPersonName>
        <fundType>PF</fundType>
        <legalProceedings>N</legalProceedings>
        <citizenshipOrOrganization>X1</citizenshipOrOrganization>
        <soleVotingPower>101039.00</soleVotingPower>
        <sharedVotingPower>0.00</sharedVotingPower>
        <soleDispositivePower>101039.00</soleDispositivePower>
        <sharedDispositivePower>0.00</sharedDispositivePower>
        <aggregateAmountOwned>101039.00</aggregateAmountOwned>
        <isAggregateExcludeShares>N</isAggregateExcludeShares>
        <percentOfClass>7.5</percentOfClass>
        <typeOfReportingPerson>IN</typeOfReportingPerson>
      </reportingPersonInfo>
    </reportingPersons>
    <items1To7>
      <item1>
        <securityTitle>Common Stock</securityTitle>
        <issuerName>Medalist Diversified REIT, Inc.</issuerName>
        <issuerPrincipalAddress>
          <com:street1>P. O. Box 8436</com:street1>
          <com:city>Richmond</com:city>
          <com:stateOrCountry>VA</com:stateOrCountry>
          <com:zipCode>23226</com:zipCode>
        </issuerPrincipalAddress>
      </item1>
      <item2>
        <filingPersonName>Marc Carlson</filingPersonName>
        <principalBusinessAddress>26162 Calle Roberto, San Juan Capistrano, CA  92675</principalBusinessAddress>
        <principalJob>Managing Director, 3 Points Partners, 26162 Calle Roberto, San Juan Capistrano, CA  92675</principalJob>
        <hasBeenConvicted>No</hasBeenConvicted>
        <convictionDescription>No</convictionDescription>
        <citizenship>US</citizenship>
      </item2>
      <item3>
        <fundsSource>The 100,000 shares of the Company's common stock, par value $0.01 per share ("Common Stock"), acquired in connection with the Private Placement (as defined in Item 5(c) below) were acquired using personal funds of the Reporting Person in the amount of $1,250,000 in the aggregate.</fundsSource>
      </item3>
      <item4>
        <transactionPurpose>Personal investment. No plans or proposals that relate to or would result in any of the actions described in Item 4(a)-(j) exist.</transactionPurpose>
      </item4>
      <item5>
        <percentageOfClassSecurities>101,039 shares representing 7.5% of the shares of Common Stock outstanding</percentageOfClassSecurities>
        <numberOfShares>The Reporting Person has the sole power to vote and dispose of all 101,039 shares of Common Stock beneficially owned by him.</numberOfShares>
        <transactionDesc>The Reporting Person acquired 100,000 shares of Common Stock at a price of $12.50 per share, in a private placement exempt from the registration requirements of the Securities Act of 1933, as amended (the "Securities Act"), pursuant to the exemption for transactions by an issuer not involving any public offering under Rule 506(b) under Regulation D of the Securities Act (the "Private Placement"), pursuant to a Subscription Agreement by and between the Reporting Person and the Company dated December 13, 2024. In addition, on  January 31, 2025, the Company granted the Reporting Person 1,039 shares of Common Stock as compensation for his service a member of the Board of Directors of the Company.</transactionDesc>
        <listOfShareholders>None</listOfShareholders>
        <date5PercentOwnership>Not applicable</date5PercentOwnership>
      </item5>
      <item6>
        <contractDescription>None</contractDescription>
      </item6>
      <item7>
        <filedExhibits>Not applicable</filedExhibits>
      </item7>
    </items1To7>
    <signatureInfo>
      <signaturePerson>
        <signatureReportingPerson>Marc Carlson</signatureReportingPerson>
        <signatureDetails>
          <signature>/s/ Marc Carlson</signature>
          <title>Marc Carlson</title>
          <date>03/28/2025</date>
        </signatureDetails>
      </signaturePerson>
    </signatureInfo>
  </formData>
</edgarSubmission>
