Sign Up Successful!
You now have access to more from Realmo!
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings

    612 W Dr Martin Luther King Jr Blvd Tampa, FL 33603

    Sponsored
    Picture of Duplexes at W Dr Martin Luther King Jr Blvd 612, Tampa, FL
    For Sale
    $299,000

    Duplex - TAMPA, FL

    Type:Duplex
    Property size:
    1,344 SF
    Lot size:
    0.14 Acres
    Days on Market:
    26
    Last Refresh:
    Feb 8 at 1:06 am

    Property Features for 612 W Dr Martin Luther King Jr Blvd

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Duplex
    Standard status
    Active
    Zoning
    RS-50
    Rooms
    Bedroom 1, Bedroom 2
    Bedrooms
    2
    APN
    A-12-29-18-4I6-000000-00002.0
    Pets allowed
    Yes
    Interior features
    Thermostat
    Size
    1,344 SF
    Lot size
    0.14 Acres

    Utilities

    Heating system
    Central
    Cooling system
    Multi Units, Wall/Window Unit(s), Window Unit(s)

    Building Details

    Year built
    1920
    Number of units
    2
    Building materials
    Asbestos, Frame
    Roof type
    Metal
    Architectural style
    Other

    We can help!

    Listing Contact
    Carrissa Henshaw

    RE/MAX Collective (813) 438-7841

    Listing agent Carrissa Henshaw (813) 438-7841 License #3413764

    Listing date Jan 14, 2026

    MLS# TB8440013 Listing URL

    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.

    Learn more

    Property Insight Report

    Overview

    Tampa Heights Multifamily Income Property

    Located in Tampa Heights, this multifamily property at 612 W Dr. Martin Luther King Jr. Blvd was built in 1920. The property offers approximately 1,344 square feet of living space. The one-bedroom, one-bath unit features masonry construction and blends vintage appeal with modern functionality. Original hardwood floors are present where preserved, and ample natural light fills the interior. Cooling is provided by wall units. Situated on a 6,098 sq ft lot (0.14 acres), the property includes yard space and potential for expansion. The property is located minutes from downtown Tampa, St. Joseph’s Hospital, the Riverwalk, and major thoroughfares, providing access to dining, cultural hubs, and urban amenities. This property is suitable as an income-producing asset or for an owner-occupant looking to live in one unit and rent the other. The zoning is RS-50.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Duplexes

    Suggested Use

    Real Estate Agency Law Firm Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Gym & Fitness Center Daycare Center

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Tampa
    County
    Hillsborough
    State
    Florida
    Longitude
    -82.466331
    Latitude
    27.981306

    Nearby Similar for Sale

    • $1,399,000
      2,900 SF

      Hyde Park Triplex Income Property

      Historic Hyde Park triplex near Soho dining and entertainment district.
      1919 North A St, Tampa, FL 33606
      View Details
    • $11,500,000
      79,728 SF

      Spacious Tampa Office Building on Acreage

      79,728 SF office building on 5.22 acres near I-4/I-75.
      6801 E Hillsborough Ave, Tampa, FL 33610
      View Details
    • $1,700,000
      4,824 SF

      Tampa Medical Office For Sale

      Move-in-ready medical office in Tampa's USF Health medical corridor.
      14506 University Point Pl, Tampa, FL 33613
      View Details
    • $1,550,000
      7,342 SF

      North Tampa Commercial Building For Sale

      7,324 SF commercial building with three units and detached garage.
      8202 N Armenia Ave, Tampa, FL 33604
      View Details
    • $717,000
      2,360 SF

      Modern Duplex in Historic Ybor

      Modern duplex in Tampa's Ybor City, great investment opportunity.
      2313 E Columbus Dr, Tampa, FL 33605
      View Details
    • New
      $2,300,000
      6,780 SF

      Spacious Industrial Building on Large Lot

      6,780 SF commercial building on 1.8-acre lot in Tampa.
      5802 N Occident St, Tampa, FL 33614
      View Details
    • New
      $2,250,000
      6,780 SF

      Tampa Engineering Firm Opportunity

      Established engineering firm with real estate available in Tampa, Florida.
      5802 N Occident St, Tampa, FL 33614
      View Details
    • $375,000
      Pending

      Updated Duplex Near Downtown Tampa

      Updated duplex near downtown Tampa, ideal for investors or owner-occupants.
      2412 Marconi St, Tampa, FL 33605
      View Details
    • $575,000
      1,296 SF

      Turnkey Daycare with Grandfathered Status

      Established daycare business and real estate for sale in Tampa.
      9912 N Myrtle St, Tampa, FL 33617
      View Details
    • $5,129,900
      119,354 SF

      Tampa Industrial Property on 2.74 Acres

      2.74 acre industrial property in Tampa's industrial hub.
      5404 S 24Th Ave, Tampa, FL 33619
      View Details
    • $1,599,900
      1,440 SF

      Tampa Retail/Gas Station Opportunity

      Prime commercial property approved for convenience store and gas pumps.
      8617 Temple Terrace Hwy, Tampa, FL 33637
      View Details
    • $3,150,000
      5,745 SF

      Ybor City Mixed-Use Investment

      Income-producing, three-story commercial property in Tampa's Historic Ybor City.
      1919 E 6Th Ave, Tampa, FL 33605
      View Details

    FAQs

    What type of property is this?
    Duplex - Charming duplex in Tampa Heights, close to downtown and amenities.
    Where is this duplex located?
    The property is located at 612 W Dr Martin Luther King Jr Blvd Tampa, FL.
    What is the asking price?
    The asking price for this property is $299,000.
    What are key features of this property?
    This property features: - Prime location: Minutes from downtown Tampa, St. Joseph’s Hospital, and the Riverwalk; - Multi-family property: Ideal for investors or owner-occupants seeking rental income; - Historically rich: Built in 1920 with classic architectural character
    (813) 419-3154
    Request Owner's contact information
    612 W Dr Martin Luther King Jr Blvd Tampa, FL 33603
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    612 W Dr Martin Luther King Jr Blvd
    Tampa, FL 33603
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    612 W Dr Martin Luther King Jr Blvd Tampa, FL 33603
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    We can help!
    Listing Contact
    Carrissa Henshaw
    Real Estate License ID: 3413764
    (813) 419-3154
    Learn more
    Google sign-in failed. Please try again or use another login method.