Retail Property with Adjacent
1139 DR MARTIN LUTHER KING JR STREET S St Petersburg, FL 33705
New
For Sale
$700,000
Retail property on a busy road with an additional vacant lot next door and CCT-1 zoning in place.
Property Size2,350 SF
Price / SF$297.87
Days on Market5
Property Features for 1139 DR MARTIN LUTHER KING JR STREET S
General Information
- Standard status
- Active
- Size
- 2,350 SF
- Property subtype
- Retail
Building Details
- Year Built
- 1956
Listing Agency:
NAMASTE REALTY LLC
(727) 547-3610
Listed By:
Frederic Samson · License #3238948
Source:
Miharaandassociates
Added: Jul 22
Changed: Jul 25
Last Checked: Jul 25 at 2:55PM
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 NAMASTE REALTY LLC
Investment Insights
Based on property information with market context.
This offering presents an income or development opportunity at 1139 Dr Martin Luther King Jr Street S in St Petersburg. The listing includes the retail property plus the vacant lot next door at 1131 Dr Martin Luther King Jr Street, providing flexibility for continued occupancy or future site redevelopment.
The property is located on a busy road near downtown St Petersburg. CCT-1 zoning is in place, and the site is also located in an Opportunity Zone.
For buyers seeking a retail asset with the ability to control adjoining land, this combination of existing tenants and a separately available next-door lot offers a practical path for planning and execution.
The property is located on a busy road near downtown St Petersburg. CCT-1 zoning is in place, and the site is also located in an Opportunity Zone.
For buyers seeking a retail asset with the ability to control adjoining land, this combination of existing tenants and a separately available next-door lot offers a practical path for planning and execution.
Key Highlights
- Retail property on a busy road near downtown St. Petersburg
- Year built: 1956
- Includes the vacant lot next door at 1131 Dr Martin Luther King
Financial Insights For Retail
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $35.3k | $15.00 |
| − Vacancy | −$2.3k | −$0.98 |
| EGI | $33.0k | $14.03 |
| − OpEx | −$9.9k | −$4.21 |
| NOI | $23.1k | $9.82 |
2,350 SF · lease $15.00/SF/yr · vacancy 6.50% · expense 30.00%
Alternative Uses
Best Use
Retail
$329.6K
$288.4K – $384.5K
NOI $23,071 @ 7.0% cap · market cap 3.30%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$611.3K
$534.9K – $713.1K
NOI $42,788 @ 7.0% cap · market cap 6.11%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Storefront properties
Similar Off Market Nearby
- Flowers St Petersburg Florist — st. petersburg, fl 33701
FAQs
What type of property is this?
Storefront property - Retail property on a busy road with an additional vacant lot next door and CCT-1 zoning in place.
Where is this storefront property located?
The property is located at 1139 DR MARTIN LUTHER KING JR STREET S St Petersburg, FL.
What is the asking price?
The asking price for this property is $700,000.
What are key features of this property?
This property features: Retail property on a busy road near downtown St. Petersburg; Year built: 1956; Includes the vacant lot next door at 1131 Dr Martin Luther King
