Freestanding Storefront with
For Sale
Contact for pricing
2821 Dr Martin Luther King Jr St N, St Petersburg, FL 33704
Open interior layout includes two enclosed rooms and a rear roll-up door.
Property Size2,333 SF
Lot Size0.15 Acres
Price / SF$297.90
Days on Market764
Property Features for 2821 Dr Martin Luther King Jr St N
General Information
Standard status
Active
Size
2,333 SF
Lot size
0.15 Acres
Property subtype
Retail, Industrial
Zoning
CCT-1
Additional Details
Road Access
Yes
Amenities
extra-wide sidewalk cafe
rare prized giant sign
Building Details
Year Built
1963
Buildings
1
Building Size
2,333 SF
Listing Agency:
AXXOS
Listed By:
Jon Reno La Budde · License #FL 3088599
Source:
Crexi
Added: Sep 14, 2024
Changed: Oct 8
Last Checked: Oct 16 at 7:05AM
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 AXXOS
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Investment Insights
Based on property information with market context.
This freestanding storefront contains 2,333 SF within a 6,464 SF land mass. The building occupies the front of the parcel along the street and is configured with a predominantly open interior, plus two enclosed rooms. Two roll-up doors at the front open toward an extra-wide sidewalk cafe area, while a third roll-up door serves the rear. A large sign is positioned on the front of the building.
Located at 2821 Dr Martin Luther King Jr St N in St. Petersburg, the property includes back parking and street-facing retail exposure. CCT-1 zoning is identified for the site, and the building has a long history of retail use. The existing configuration may support a range of storefront, food-and-beverage, personal-service, office, medical, financial, showroom, or storage applications, subject to applicable approvals.
Located at 2821 Dr Martin Luther King Jr St N in St. Petersburg, the property includes back parking and street-facing retail exposure. CCT-1 zoning is identified for the site, and the building has a long history of retail use. The existing configuration may support a range of storefront, food-and-beverage, personal-service, office, medical, financial, showroom, or storage applications, subject to applicable approvals.
Key Highlights
- 2,333 SF storefront building on a 6,464 SF land mass
- Front of parcel opens directly onto the street
- Two front roll‑up doors open toward an extra‑wide sidewalk cafe
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$22,904
Cap Rate
3.30%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$458,080
$458.1K
Cap Rate 7%
$327,200
$327.2K
Cap Rate 9%
$254,489
$254.5K
Market Conditions
NOI Build-Up for 2,333 SF
Gross rent
$35.0K $15.00/SF
− Vacancy
−$2.3K −$0.98/SF
EGI
$32.7K $14.03/SF
− OpEx
−$9.8K −$4.21/SF
NOI
$22.9K $9.82/SF
Area
Pinellas County, FL
Vacancy
6.50%
Lease Rate
$15.00 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$458,080
Cap Rate 7%
$327,200
Cap Rate 9%
$254,489
Alternative Uses
Best Use
Retail
$327.2K
$286.3K – $381.7K
NOI $22,904 @ 7.0% cap · market cap 3.30%
Second Best
Flex RnD
$301.5K
$263.8K – $351.8K
NOI $21,107 @ 7.0% cap · market cap 3.04%
Theoretical Best
Office A
$606.8K
$531.0K – $708.0K
NOI $42,478 @ 7.0% cap · market cap 6.11%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Current Use
Lease Details
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
1,202
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 33704, FL
16,031
Population
9,037
Households
1.8
Avg Household Size
46
Median Age
58%
College-Educated
98%
High-School Grad
3.4 sq mi
ZIP Area
4,715
Density / Sq Mi
$102,647
Median Household Income
$63,803
Median Earnings
$1,398
Median Rent
$657,400
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Industrial in South region
Similar Off Market Nearby
- Jennie's Flowers St. Petersburg — 2301 Dr M.L.K. Jr St N, St. Petersburg, FL 33704
- Lemon Drops Weddings & Events — 2500 Dr M.L.K. Jr St N, St. Petersburg, FL 33704
- The Flower Centre of St. Petersburg — 2500 Dr Dr M.L.K. Jr St N, St. Petersburg, FL 33704
Frequently Asked Questions
What type of property is this?
Storefront property - Open interior layout includes two enclosed rooms and a rear roll-up door.
Where is this storefront property located?
The property is located at 2821 Dr Martin Luther King Jr St N St Petersburg, FL.
What is the asking price?
The asking price for this property is $695,000.
What are key features of this property?
This property features: 2,333 SF storefront building on a 6,464 SF land mass; Front of parcel opens directly onto the street; Two front roll‑up doors open toward an extra‑wide sidewalk cafe
