Mixed-Use Property with
For Sale
$325,000
3004 E DR MARTIN LUTHER KING JR Boulevard, Tampa, FL 33610
Commercial Sale, TAMPA, FL
Property Size1,080 SF
Lot Size0.13 Acres
Price / SF$300.93
Days on Market54
Property Features for 3004 E DR MARTIN LUTHER KING JR Boulevard
General Information
Property type
Commercial Sale
Property subtype
Office
Zoning
CG
Subdivision
ENGLEWOOD EASTERN POR
Directions
N Florida Ave to Left on East MLK Blvd to property.
Standard status
Active
APN
A-05-29-19-4A1-000021-00010.0
Size
1,080 SF
Lot size
0.13 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
ENGLEWOOD EASTERN PORTION LOT 10 BLOCK 21
Tax Annual Amount
3750
Legal Description
ENGLEWOOD EASTERN PORTION LOT 10 BLOCK 21
Utilities
Cooling system
Central Air
Building Details
Year built
1951
Floors in Building
1
Building materials
Frame
Listing Agency:
STAR BAY REALTY CORP.
(813) 533-6467
Listed By:
Luis Amoretti · License #3243614
(678) 698-0538
Added: Jul 8
Changed: Aug 24
Last Checked: Aug 30 at 12:06AM
MLS# TB8527378
Copyright © 2026 Stellar MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This frame mixed-use property contains 1,080 square feet and was built in 1951. The building includes three bedrooms, two bathrooms, central air conditioning, a front porch, and a storage shed. The property is also described as a commercial building that can continue to function as a residence, offering flexibility within its existing configuration.
The 0.13-acre site is located at 3004 E Dr Martin Luther King Jr Boulevard in Tampa, Florida. CG zoning supports its commercial classification, while the residential layout provides an additional use format. No HOA is associated with the property.
The 0.13-acre site is located at 3004 E Dr Martin Luther King Jr Boulevard in Tampa, Florida. CG zoning supports its commercial classification, while the residential layout provides an additional use format. No HOA is associated with the property.
Key Highlights
- CG zoning for commercial use
- 1,080 square feet on a 0.13‑acre lot
- Three bedrooms and two bathrooms
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$10,992
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
3.38%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$219,840
$219.8K
Cap Rate 7%
$157,029
$157.0K
Cap Rate 9%
$122,133
$122.1K
Market Conditions
NOI Build-Up for 1,080 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$21.5K $19.92/SF
− Vacancy
−$1.5K −$1.41/SF
EGI
$20.0K $18.51/SF
− OpEx
−$9.0K −$8.33/SF
NOI
$11.0K $10.18/SF
Area
ZIP 33610
Vacancy
7.10%
Lease Rate
$19.92 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$219,840
Cap Rate 7%
$157,029
Cap Rate 9%
$122,133
Alternative Uses
Best Use
Apartment 5plus
$157.0K
$137.4K – $183.2K
NOI $10,992 @ 7.0% cap · market cap 3.38%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$249.1K
$218.0K – $290.6K
NOI $17,436 @ 7.0% cap · market cap 5.36%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
581
Businesses Nearby
Explore this area
Business Placement
Demographics for 33610, FL
45,218
Population
17,995
Households
2.5
Avg Household Size
34
Median Age
19%
College-Educated
82%
High-School Grad
18.0 sq mi
ZIP Area
2,512
Density / Sq Mi
$49,765
Median Household Income
$34,773
Median Earnings
$1,307
Median Rent
$210,600
Median Home Value
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Single family property - CG zoning supports commercial use, while the building is also configured as a three-bedroom, two-bath residence.
Where is this single family property located?
The property is located at 3004 E DR MARTIN LUTHER KING JR Boulevard Tampa, FL.
What is the asking price?
The asking price for this property is $325,000.
What are key features of this property?
This property features: CG zoning for commercial use; 1,080 square feet on a 0.13‑acre lot; Three bedrooms and two bathrooms
