Office Building Near
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1262 Dr Martin Luther King Jr St N, St Petersburg, FL 33705
Located on a prominent north-south commercial corridor with access to downtown and surrounding residential, retail, and business districts.
Property Size2,474 SF
Price / SF$402.18
Days on Market165
Property Features for 1262 Dr Martin Luther King Jr St N
General Information
Standard status
Active
Size
2,474 SF
Class
C
Property subtype
Office
Zoning
SP
Investment Type
Owner/User
Additional Details
Asking Price
$995,000
Road Access
Yes
Building Details
Year Built
1925
Buildings
1
Stories
1
Tenancy
Single
Listing Agency:
John Burpee & Associates
Listed By:
John Burpee · License #FL cq1057398
(727) 585-2070
Source:
Crexi
Added: May 4
Changed: Oct 14
Last Checked: Oct 14 at 8:36PM
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 John Burpee & Associates
Investment Insights
Based on property information with market context.
This 2,474-square-foot office building was constructed in 1925 and is located at 1262 Dr. Martin Luther King Jr. St. N. The property carries SP zoning and is presented as suitable for office, retail, and professional-services use.
The building sits along Dr. Martin Luther King Jr. Street North, a major north-south route through St. Petersburg with frontage on an established commercial corridor. Its location provides access to Downtown St. Petersburg, the downtown waterfront, the St. Pete Pier, Central Avenue, and nearby residential, retail, and business areas.
The property combines an established office improvement with a central urban setting and a range of stated commercial-use possibilities. Its 1925 construction date, 2,474 square feet of building area, and SP zoning provide key reference points for evaluating the asset.
The building sits along Dr. Martin Luther King Jr. Street North, a major north-south route through St. Petersburg with frontage on an established commercial corridor. Its location provides access to Downtown St. Petersburg, the downtown waterfront, the St. Pete Pier, Central Avenue, and nearby residential, retail, and business areas.
The property combines an established office improvement with a central urban setting and a range of stated commercial-use possibilities. Its 1925 construction date, 2,474 square feet of building area, and SP zoning provide key reference points for evaluating the asset.
Key Highlights
- 2,474‑square‑foot office building
- Constructed in 1925
- SP zoning
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$38,412
Cap Rate
3.86%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$768,240
$768.2K
Cap Rate 7%
$548,743
$548.7K
Cap Rate 9%
$426,800
$426.8K
Market Conditions
NOI Build-Up for 2,474 SF
Gross rent
$64.4K $26.04/SF
− Vacancy
−$13.2K −$5.34/SF
EGI
$51.2K $20.70/SF
− OpEx
−$12.8K −$5.18/SF
NOI
$38.4K $15.53/SF
Area
Pinellas County, FL
Vacancy
20.50%
Lease Rate
$26.04 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$768,240
Cap Rate 7%
$548,743
Cap Rate 9%
$426,800
Alternative Uses
Best Use
Office B
$548.7K
$480.2K – $640.2K
NOI $38,412 @ 7.0% cap · market cap 3.86%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$643.5K
$563.1K – $750.8K
NOI $45,045 @ 7.0% cap · market cap 4.53%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Open Analytics
Current Use
Lease Details
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
2,168
Businesses Nearby
Explore this area
Business Placement
Demographics for 33705, FL
27,915
Population
15,171
Households
1.8
Avg Household Size
43
Median Age
36%
College-Educated
92%
High-School Grad
5.6 sq mi
ZIP Area
4,985
Density / Sq Mi
$70,783
Median Household Income
$40,370
Median Earnings
$1,457
Median Rent
$321,500
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in South region
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Frequently Asked Questions
What type of property is this?
Office building - Located on a prominent north-south commercial corridor with access to downtown and surrounding residential, retail, and business districts.
Where is this office building located?
The property is located at 1262 Dr Martin Luther King Jr St N St Petersburg, FL.
What is the asking price?
The asking price for this property is $995,000.
What are key features of this property?
This property features: 2,474‑square‑foot office building; Constructed in 1925; SP zoning
