Pharmacy or Medical Retail
3302 E DR MARTIN LUTHER KING JR BOULEVARD Tampa, FL 33610
For Sale
$400,000
Commercial space with a functional pharmacy layout on a primary arterial corridor with convenient regional access.
Property Size3,195 SF
Price / SF$125.20
Days on Market22
Property Features for 3302 E DR MARTIN LUTHER KING JR BOULEVARD
General Information
Standard status
Active
Size
3,195 SF
Property subtype
Business
Building Details
Year Built
1923
Listing Agency:
SERRALLES GROUP,INC
(813) 307-0007
Listed By:
Eddie Serralles · License #508984
Source:
Dennisrealty
Added: Jul 9
Changed: Jul 25
Last Checked: Jul 29 at 5:34AM
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 SERRALLES GROUP,INC
Investment Insights
Based on property information with market context.
This commercial space is currently configured for pharmacy use with a functional layout that can also be adapted for other retail, medical, or service-oriented businesses. The property is identified as part of a short sale package deal.
Located at 3302 E Dr Martin Luther King Jr Boulevard in Tampa, the asset sits on a primary arterial route intended to serve both walk-in and local customer traffic. The public remarks describe convenient access to key residential and commercial areas along the East Tampa / MLK Boulevard corridor.
From a tenant and operator standpoint, the site is positioned to support continued pharmacy use or a flexible reconfiguration for a compatible commercial concept within the retail/medical/service categories noted in the remarks.
Located at 3302 E Dr Martin Luther King Jr Boulevard in Tampa, the asset sits on a primary arterial route intended to serve both walk-in and local customer traffic. The public remarks describe convenient access to key residential and commercial areas along the East Tampa / MLK Boulevard corridor.
From a tenant and operator standpoint, the site is positioned to support continued pharmacy use or a flexible reconfiguration for a compatible commercial concept within the retail/medical/service categories noted in the remarks.
Key Highlights
- Commercial space built in 1923 with a functional pharmacy layout
- Located at 3302 MLK Blvd on a primary arterial corridor
- Includes pharmacy space, suited for continued pharmacy use or adaptation to other retail, medical, or service businesses
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 | $61.3k | $19.20 |
| − Vacancy | −$4.9k | −$1.54 |
| EGI | $56.4k | $17.66 |
| − OpEx | −$22.6k | −$7.07 |
| NOI | $33.9k | $10.60 |
3,195 SF · lease $19.20/SF/yr · vacancy 8.00% · expense 40.00%
Alternative Uses
Best Use
Specialty Retail
$695.0K
$608.2K – $810.9K
NOI $48,653 @ 7.0% cap · market cap 12.16%
Second Best
Office B
$537.5K
$470.3K – $627.1K
NOI $37,625 @ 7.0% cap · market cap 9.41%
Theoretical Best
Office A
$736.9K
$644.8K – $859.7K
NOI $51,583 @ 7.0% cap · market cap 12.90%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Location Intelligence
Current Use
Similar Off Market Nearby
- Tampa Drugs Pharmacy — E 23rd Ave, Tampa, FL 33605
- City Pharmacy — 3302 E Dr Martin Luther King Jr Blvd, Tampa, FL 33610
Frequently Asked Questions
What type of property is this?
Drug store - Commercial space with a functional pharmacy layout on a primary arterial corridor with convenient regional access.
Where is this drug store located?
The property is located at 3302 E DR MARTIN LUTHER KING JR BOULEVARD Tampa, FL.
What is the asking price?
The asking price for this property is $400,000.
What are key features of this property?
This property features: Commercial space built in 1923 with a functional pharmacy layout; Located at 3302 MLK Blvd on a primary arterial corridor; Includes pharmacy space, suited for continued pharmacy use or adaptation to other retail, medical, or service businesses
