Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Back to Search
    Turnkey Medical and Wellness Facility Title is generated by Realmo AI

    1700 DR MARTIN LUTHER KING JR STREET N #A, St Petersburg, FL 33704

    View on Map
    Claim this Listing
    For Sale
    $2,400,000

    Fully equipped medical and wellness facility in St. Petersburg, Florida.

    Type:Commercial
    Property size:
    5,784 SF
    Lot size:
    0.49 Acres
    Price / SF:
    $414/SF
    Added:
    May 3, 2025
    Days on Market:
    398
    Last Refresh:
    May 11 at 1:47 am

    Property Features for 1700 DR MARTIN LUTHER KING JR STREET N #A

    General Information

    Standard status
    Active
    Size
    5,784 SF
    Lot size
    0.49 Acres
    Property subtype
    Commercial

    Building Details

    Year Built
    1986

    We can help!

    Listing Contact
    ROBERT MITCHELL II
    ROBERT MITCHELL II

    Listing agent ROBERT MITCHELL II License #3351668

    Listing office LPT REALTY, LLC

    Listing date May 3, 2025

    Source Corcoran

    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 LPT REALTY, LLC

    HighLights

    • Turnkey medical/wellness facility with over $460,000 worth of professionally appraised, high‑end equipment included.
    • Prime location in a high‑traffic St. Petersburg corridor, minutes from downtown, with a high Walk Score of 88.
    • Large 21,275‑square‑foot lot with ample parking and prominent street frontage.
    • Nearly 6,000‑square‑foot concrete block building with a flexible layout including 14 offices/treatment rooms, 5 bathrooms, and multiple kitchen areas.
    • Potential to easily divide the building into two independent suites.
    • Meticulously maintained space ideally suited for healthcare, chiropractic, physical therapy, or Pilates, with an immaculate Pilates studio included.

    Overview

    Located in St. Petersburg, Florida, this turnkey medical and wellness facility offers a rare opportunity in a sought-after corridor, minutes from downtown. The concrete block building, nearly 6,000 square feet in size, is situated on a 21,275-square-foot lot with street frontage and ample parking. The layout includes 14 private offices or treatment rooms, five bathrooms, a full kitchen, a separate kitchenette, and a spacious reception area. The building's configuration allows for division into two independent suites, making it suitable for various professional uses, particularly in healthcare, chiropractic, physical therapy, or Pilates. The sale includes over $460,000 worth of medical and wellness equipment, such as DRX 9000 spinal decompression systems, a TheraLight 360 red light bed, Cryo Science chamber, Aspen Class IV cold laser, Clearlight sauna, Neubie E-Stim unit, PiezoWave shockwave system, and a Pilates studio with Reformers, Cadillacs, and Chairs. The space has been meticulously maintained. Located in a high-traffic area with a Walk Score of 88, the site benefits from visibility and exposure. The facility is aligned to meet the demand for holistic, rehabilitative, and performance-based treatments. The seller is open to separating the real estate and equipment if needed.
    Location Intelligence

    Current Use by Public Records

    Medical centers

    Suggested Use

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

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

    Location Insight

    • Map
    • Local Demand
    City
    St Petersburg
    County
    Pinellas
    State
    Florida
    Longitude
    -82.6463
    Latitude
    27.7532

    Nearby Similar for Sale

    • $920,000
      2,496 SF

      Turnkey Medical Office in St. Petersburg

      Fully built-out medical office with flexible layout and ample parking.
      1152 62ND AVENUE S, ST PETERSBURG, FL 33705
      View Details
    • $449,000
      1,740 SF

      Freestanding Commercial Building Near Downtown

      Corner-lot property with flexible layout, suitable for retail/service uses.
      1664 15TH AVENUE S, ST PETERSBURG, FL 33712
      View Details
    • $1,150,000
      1,472 SF

      Boutique Medical Suite Investment

      Fully leased medical suites with income upside in St. Petersburg.
      2200 49TH STREET N, ST PETERSBURG, FL 33710
      View Details
    • $600,000
      3,607 SF

      Value-Add Multifamily Opportunity

      Six-unit multifamily property with renovation needs in St. Petersburg.
      7180 50TH AVENUE N, ST PETERSBURG, FL 33709
      View Details
    • $750,000
      4,152 SF

      High-Visibility Corner Office Building

      4,152 SF office building on a high-traffic corner lot.
      2901 58TH AVENUE N, ST PETERSBURG, FL 33714
      View Details
    • $1,095,000
      5,796 SF

      St. Petersburg Warehouse with Leased Unit

      Two-unit warehouse with income and upside for owner-user or investor.
      4055 7TH TERRACE, ST PETERSBURG, FL 33711
      View Details
    • $275,000
      720 SF

      Retail Building on Active Corridor

      Versatile commercial building with high visibility and unmatched signage potential.
      4498 49TH STREET N, ST PETERSBURG, FL 33709
      View Details
    • $530,000
      3,384 SF

      St. Petersburg Landmark Property

      Landmark property in growing St. Petersburg corridor with flexible possibilities.
      1241 22ND STREET S, ST PETERSBURG, FL 33712
      View Details
    • $899,000
      1,528 SF

      Commercial Property on Haines Road

      Commercial property with office, workshop, and storage yard.
      6600 HAINES ROAD N, ST PETERSBURG, FL 33702
      View Details
    • $649,999
      2,892 SF

      Updated Four-Unit Multifamily Property

      Renovated four-unit property near downtown St. Petersburg with income potential.
      1033 19TH AVENUE S, ST PETERSBURG, FL 33705
      View Details
    • $829,999
      1,885 SF

      Versatile Commercial Property in St. Pete

      Commercial property suitable for warehouse, retail, distribution, storage, or live-work.
      5205 HAINES ROAD N, ST PETERSBURG, FL 33714
      View Details
    • $595,000
      2,322 SF

      Triplex with Potential Fourth Unit

      Income-focused triplex with three separate living areas and a fenced yard, plus upside pending city approval.
      4925 2ND AVENUE S, ST PETERSBURG, FL 33707
      View Details

    FAQs

    What type of property is this?
    Medical center - Fully equipped medical and wellness facility in St. Petersburg, Florida.
    Where is this medical center located?
    The property is located at 1700 DR MARTIN LUTHER KING JR STREET N #A St Petersburg, FL.
    What is the asking price?
    The asking price for this property is $2,400,000.
    What are key features of this property?
    This property features: Turnkey medical/wellness facility with over $460,000 worth of professionally appraised, high‑end equipment included.; Prime location in a high‑traffic St. Petersburg corridor, minutes from downtown, with a high Walk Score of 88.; Large 21,275‑square‑foot lot with ample parking and prominent street frontage.
    (877) 366-2213
    We can help!
    Listing Contact
    ROBERT MITCHELL II
    ROBERT MITCHELL II
    Real Estate License ID: 3351668
    Learn More
    Request Owner's contact information
    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.
    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
    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

    Thank You for Inquiry
    1700 DR MARTIN LUTHER KING JR STREET N #A, ST PETERSBURG, FL 33704
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!