Office Building with On-Site
For Sale
$450,000
1640 DR MARTIN LUTHER KING JR Street S, St Petersburg, FL 33701
Commercial Sale, ST PETERSBURG, FL
Property Size1,901 SF
Lot Size0.29 Acres
Price / SF$236.72
Days on Market238
Property Features for 1640 DR MARTIN LUTHER KING JR Street S
General Information
Property type
Commercial Sale
Property subtype
Office
Zoning
CRT-1
Subdivision
DISTRICT FLA CORP SUB 1
Directions
On the east side of MLK street between 16th and 17th ave s.
Standard status
Active
APN
30-31-17-21564-000-0010
Size
1,901 SF
Lot size
0.29 Acres
Additional Details
Tenant in Place
Yes
Property Use
Office
Taxes and HOA fees
Tax Year
2025
Tax Description
DISTRICT FLA CORP SUB NO 1 LOTS 1, 2, 3 AND 4
Tax Annual Amount
7364
Legal Description
DISTRICT FLA CORP SUB NO 1 LOTS 1, 2, 3 AND 4
Utilities
Cooling system
Central Air
Amenities
parking lot
wheelchair accessible
Building Details
Year built
1995
Floors in Building
1
Building materials
Vinyl Siding
Listing Agency:
LOKATION
(954) 545-5583
Listed By:
Monica Trevino Thurman · License #3576055
(863) 517-9090
Added: Mar 13
Changed: Nov 5
Last Checked: Nov 5 at 4:06AM
MLS# L4959884
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.
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Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This 1,901-square-foot office building was constructed in 1995 and has vinyl siding and central air. The property includes a separate parking lot and wheelchair-accessible features.
The 0.29-acre corner site is within the CRT-1 zoning district and the CRA district in St. Petersburg, Florida.
The 0.29-acre corner site is within the CRT-1 zoning district and the CRA district in St. Petersburg, Florida.
Key Highlights
- 1,901‑square‑foot office building constructed in 1995
- 0.29‑acre corner parcel
- CRT‑1 zoning within the CRA district
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$29,516
Cap Rate
6.56%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$590,320
$590.3K
Cap Rate 7%
$421,657
$421.7K
Cap Rate 9%
$327,956
$328.0K
Market Conditions
NOI Build-Up for 1,901 SF
Gross rent
$49.5K $26.04/SF
− Vacancy
−$10.1K −$5.34/SF
EGI
$39.4K $20.70/SF
− OpEx
−$9.8K −$5.18/SF
NOI
$29.5K $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%
$590,320
Cap Rate 7%
$421,657
Cap Rate 9%
$327,956
Alternative Uses
Best Use
Office B
$421.7K
$369.0K – $491.9K
NOI $29,516 @ 7.0% cap · market cap 6.56%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$494.5K
$432.7K – $576.9K
NOI $34,613 @ 7.0% cap · market cap 7.69%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
Current Use
Lease Details
Multi-tenant
Tenancy
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
969
Businesses Nearby
Explore this area
Business Placement
Demographics for 33701, FL
19,137
Population
13,434
Households
1.4
Avg Household Size
48
Median Age
55%
College-Educated
96%
High-School Grad
2.7 sq mi
ZIP Area
7,088
Density / Sq Mi
$69,098
Median Household Income
$48,072
Median Earnings
$1,531
Median Rent
$590,900
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Office in South region
Frequently Asked Questions
What type of property is this?
Office building - The wheelchair-accessible building sits on a corner parcel in the CRA district.
Where is this office building located?
The property is located at 1640 DR MARTIN LUTHER KING JR Street S St Petersburg, FL.
What is the asking price?
The asking price for this property is $450,000.
What are key features of this property?
This property features: 1,901‑square‑foot office building constructed in 1995; 0.29‑acre corner parcel; CRT‑1 zoning within the CRA district
