Tampa Office/Retail Strip
718-722 W DR MARTIN LUTHER KING JR Blvd Tampa, FL 33603
For Sale
$2,900,000
Centrally located office/retail strip center in the heart of Tampa.
Property Size8,000 SF
Lot Size0.71 Acres
Price / SF$362.50
Days on Market143
Property Features for 718-722 W DR MARTIN LUTHER KING JR Blvd
General Information
Standard status
Active
Size
8,000 SF
Lot size
0.71 Acres
Property subtype
Commercial
Building Details
Year Built
1975
Listing Agency:
HUNTER REALTY & INVESTMENT LLC
(813) 728-7771
Listed By:
Evan Lipstein · License #3268389
(813) 728-7771
Source:
Elliman
Added: Mar 10
Changed: Jul 6
Last Checked: Jul 29 at 2:04PM
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 HUNTER REALTY & INVESTMENT LLC
Investment Insights
Based on property information with market context.
This office/retail strip center is centrally located in Tampa, situated on W. Dr. Martin Luther King Jr. Blvd, east of the river. The property is positioned within close proximity to St. Joseph's Hospital and one mile west of I-275, St. Joseph's Medical & Legal District, and downtown. It benefits from its location in the heart of four areas: St. Joseph's Medical & Legal District, S. Seminole Heights, N. Riverside Heights, and Tampa Heights, which is home to Stetson Law School, the relocation area to Orlando’s 2nd District Court of Appeals, and the new Hillsborough County Bar Association. The property consists of two stand-alone buildings, one approximately 4000 square feet and the other approximately 8000 square feet. The tenant mix is mostly medical-related. Ample parking is available, and units are allocated with signage on MLK Blvd.
Key Highlights
- Prime central Tampa location near St. Joseph's Medical & Legal District and downtown
- Desirable location in the heart of four highly sought‑after areas: St. Joseph's Medical & Legal District, S. Seminole Heights, N. Riverside Heights, and Tampa Heights
- Proximity to St. Joseph's Hospital
Financial Insights For Healthcare Medical
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 | $211.2k | $26.40 |
| − Vacancy | −$16.9k | −$2.11 |
| EGI | $194.3k | $24.29 |
| − OpEx | −$77.7k | −$9.72 |
| NOI | $116.6k | $14.57 |
8,000 SF · lease $26.40/SF/yr · vacancy 8.00% · expense 40.00%
Alternative Uses
Best Use
Healthcare Medical
$1.67M
$1.46M – $1.94M
NOI $116,582 @ 7.0% cap · market cap 4.02%
Second Best
Office B
$1.55M
$1.36M – $1.81M
NOI $108,720 @ 7.0% cap · market cap 3.75%
Theoretical Best
Office A
$1.86M
$1.63M – $2.17M
NOI $130,464 @ 7.0% cap · market cap 4.50%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use
Frequently Asked Questions
What type of property is this?
Strip mall - Centrally located office/retail strip center in the heart of Tampa.
Where is this strip mall located?
The property is located at 718-722 W DR MARTIN LUTHER KING JR Blvd Tampa, FL.
What is the asking price?
The asking price for this property is $2,900,000.
What are key features of this property?
This property features: Prime central Tampa location near St. Joseph's Medical & Legal District and downtown; Desirable location in the heart of four highly sought‑after areas: St. Joseph's Medical & Legal District, S. Seminole Heights, N. Riverside Heights, and Tampa Heights; Proximity to St. Joseph's Hospital
