Add Listing
    For Lease
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Back to Search
    St. Petersburg Office Space Available Title is generated by Realmo AI

    5355 Dr M.L.K. Jr St N, St Petersburg, FL 33703

    View on Map
    Claim this Listing
    Loading data...
    Loading data...
    Loading data...
    For Lease
    Contact for pricing

    712 SF office space for rent in St. Petersburg.

    Type:Office
    Property size:
    712 SF
    Added:
    May 5, 2022
    Days on Market:
    1468
    Last Refresh:
    Mar 17 at 1:14 pm

    Property Features for 5355 Dr M.L.K. Jr St N

    General Information

    Standard status
    Active
    Size
    712 SF
    Property subtype
    Office

    Building Details

    Year Built
    1950

    Spaces For Lease

    at 5355 Dr M.L.K. Jr St N Contact us

    $25 /Mo

    Size
    712 SF
    Type
    Office
    Contact us

    We can help!

    Listing Contact
    Mike Heretick

    Listing agent Mike Heretick License #FL 3221420

    Listing office Vector Commercial Real Estate

    Listing date May 5, 2022

    Source Crexi

    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 Vector Commercial Real Estate

    HighLights

    • Great location at the intersection of 54th Ave. and Dr. MLK Jr. St. N. in St. Petersburg
    • CRS‑1 zoning allows for a wide variety of uses (professional office, medical office, day spa, etc.)
    • Rent: $1,500/mo plus electric
    • 712‑square‑foot second‑floor space with separate entrance
    • Separate entrance
    • Year Built: 1950

    Overview

    This 712-square-foot second-floor office space is available for rent at $1,500 per month, plus electric. It features a separate entrance and is situated at the intersection of 54th Ave. and Dr. MLK Jr. St. N. in St. Petersburg. The property is zoned CRS-1, which allows for a variety of uses, including professional office, medical office, chiropractic, dental, and day spa.
    Location Intelligence

    Current Use by Public Records

    Office Units

    Map

    City
    St Petersburg
    County
    Pinellas
    State
    Florida
    Longitude
    -82.6268
    Latitude
    27.8177

    Nearby Similar for Lease

    • $1,350/Mo

      High-Visibility St. Petersburg Retail Space

      Prime commercial space with high traffic and flexible zoning.
      4201 4TH STREET N, ST PETERSBURG, FL 33703
      View Details
    • $4,470/Mo

      St. Petersburg Boutique Office Space

      Modern office with parking, security, and convenient location.
      3848 CENTRAL AVENUE, ST PETERSBURG, FL 33711
      View Details
    • $3,800/Mo

      Versatile Commercial Space in St. Petersburg

      Commercial space suitable for office, retail, service, or light operations.
      4022 54TH AVENUE N, ST PETERSBURG, FL 33714
      View Details
    • $26 SF/Yr

      Prime Retail Space on 4th

      855 SF retail space in a busy St. Petersburg center.
      3185 4TH STREET N, ST PETERSBURG, FL 33704
      View Details
    • $3,100/Mo

      Prime Office Space in St. Pete

      Freestanding office building with high visibility and ample parking.
      6465 1ST AVENUE S, ST PETERSBURG, FL 33707
      View Details
    • $20 SF/Yr

      Prime Central Avenue Mixed-Use Space

      Four units available in a high-traffic St. Petersburg location.
      4200 CENTRAL AVENUE S, ST PETERSBURG, FL 33711
      View Details
    • $7,000/Mo

      Corner Lot with High Visibility

      Corner lot with high visibility, ideal for various commercial uses.
      6180 HAINES ROAD N, ST PETERSBURG, FL 33714
      View Details
    • $12 SF/Yr

      Renovated Warehouse Near I-275

      2,385 SF warehouse with office space, convenient highway access.
      11920 31ST COURT N, ST PETERSBURG, FL 33716
      View Details
    • $23 SF/Yr

      Corner Office Suite in St. Petersburg

      Spacious suite ideal for offices, medical, spa, or salon.
      5001 4TH STREET N, ST PETERSBURG, FL 33703
      View Details
    • Contact for pricing

      Retail/Office Space on Tyrone Blvd

      637 SF retail or office space available for lease.
      3805 TYRONE Blvd N 3805, St. Petersburg, FL 33709
      View Details
    • Contact for pricing

      High-Visibility Retail/Office Space Available

      Prime St. Pete location with high traffic and flexible layout.
      6480 CENTRAL Ave, St. Petersburg, FL 33707
      View Details
    • Contact for pricing

      Retail Space in Fourth Street Center

      Retail space available in popular St. Petersburg shopping center.
      3185 4TH St N, St. Petersburg, FL 33704
      View Details

    FAQs

    What type of property is this?
    Office units - 712 SF office space for rent in St. Petersburg.
    Where is this office units located?
    The property is located at 5355 Dr M.L.K. Jr St N St Petersburg, FL.
    What are key features of this property?
    This property features: Great location at the intersection of 54th Ave. and Dr. MLK Jr. St. N. in St. Petersburg; CRS‑1 zoning allows for a wide variety of uses (professional office, medical office, day spa, etc.); Rent: $1,500/mo plus electric
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing
    Mike Heretick
    Real Estate License ID: FL 3221420
    Learn More
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry
    5355 Dr M.L.K. Jr St N, St. Petersburg, FL 33703
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!