Tampa Office/Retail Strip
For Sale
$2,900,000
718-722 W DR MARTIN LUTHER KING JR BOULEVARD, Tampa, FL 33603
Centrally located office/retail strip center in the heart of Tampa.
Property Size12,036 SF
Lot Size0.71 Acres
Price / SF$240.94
Days on Market422
Property Features for 718-722 W DR MARTIN LUTHER KING JR BOULEVARD
General Information
Standard status
Active
Size
12,036 SF
Lot size
0.71 Acres
Property subtype
Commercial
Building Details
Year Built
1975
Listing Agency:
HUNTER REALTY & INVESTMENT LLC
(813) 728-7771
Listed By:
EVAN LIPSTEIN · License #3268389
Source:
Corcoran
Added: Aug 11, 2025
Changed: Jul 6
Last Checked: Oct 4 at 11:36AM
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 HUNTER REALTY & INVESTMENT LLC
Investment Insights
Based on property information with market context.
This office/retail strip center is centrally located in Tampa, one mile west of I-275, in close proximity to downtown and St. Joseph's Hospital. The property is situated on W. Dr. Martin Luther King Jr. Blvd, east of the river, and lies within the St. Joseph's Medical Legal District, near S. Seminole Heights, N. Riverside Heights, and Tampa Heights, which is home to Stetson Law School and the relocation area to Orlando’s 2nd District Court of Appeals and the new Hillsborough County Bar Association. The property consists of two stand-alone buildings, one approximately 4000 square feet and the other approximately 8000 square feet, totaling 12036 square feet. It features a mix of tenants, mostly medical-related, and ample parking. Units are allocated with signage on MLK Blvd.
Key Highlights
- Centrally located in the heart of Tampa, offering high visibility and accessibility.
- Located in the heart of 4 highly desirable areas; St. Joseph's Medical Legal District, S. Seminole Heights, N. Riverside Heights, and Tampa Heights.
- Proximity to St. Joseph's Hospital and the St. Joseph's Medical Legal District.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$163,569
Cap Rate
5.64%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$3,271,380
$3.3M
Cap Rate 7%
$2,336,700
$2.3M
Cap Rate 9%
$1,817,433
$1.8M
Market Conditions
NOI Build-Up for 12,036 SF
Gross rent
$288.9K $24.00/SF
− Vacancy
−$70.8K −$5.88/SF
EGI
$218.1K $18.12/SF
− OpEx
−$54.5K −$4.53/SF
NOI
$163.6K $13.59/SF
Area
Tampa, FL
Vacancy
24.50%
Lease Rate
$24.00 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$3,271,380
Cap Rate 7%
$2,336,700
Cap Rate 9%
$1,817,433
Alternative Uses
Best Use
Office B
$2.34M
$2.04M – $2.73M
NOI $163,569 @ 7.0% cap · market cap 5.64%
Second Best
Retail
$2.05M
$1.79M – $2.39M
NOI $143,313 @ 7.0% cap · market cap 4.94%
Theoretical Best
Office A
$2.80M
$2.45M – $3.27M
NOI $196,283 @ 7.0% cap · market cap 6.77%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Unlock full access to Insights
Subscribe to Realmo Intelligence
Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
929
Businesses Nearby
Explore this area
Business Placement
Demographics for 33603, FL
19,070
Population
9,592
Households
2
Avg Household Size
38
Median Age
39%
College-Educated
90%
High-School Grad
4.1 sq mi
ZIP Area
4,651
Density / Sq Mi
$64,632
Median Household Income
$43,136
Median Earnings
$1,320
Median Rent
$344,100
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Office in Tampa, FL
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Strip mall - Centrally located office/retail strip center in the heart of Tampa.
Where is this strip mall located?
The property is located at 718-722 W DR MARTIN LUTHER KING JR BOULEVARD Tampa, FL.
What is the asking price?
The asking price for this property is $2,900,000.
What are key features of this property?
This property features: Centrally located in the heart of Tampa, offering high visibility and accessibility.; Located in the heart of 4 highly desirable areas; St. Joseph's Medical Legal District, S. Seminole Heights, N. Riverside Heights, and Tampa Heights.; Proximity to St. Joseph's Hospital and the St. Joseph's Medical Legal District.
