Building Details

Building Size 12,036 SF

Year Built 1975

Stories 2

Listing Agency: HUNTER REALTY & INVESTMENT LLC

Listed By: Evan Lipstein · License #3268389 Show Phone

Source: Elliman

Added: Mar 10 Changed: Oct 5 Last Checked: Oct 12 at 8:28PM

Report an Issue

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, situated on W. Dr. Martin Luther King Jr. Blvd, east of the river. The property is positioned within close proximity to St. Joseph's Hospital and one mile west of I-275, St. Joseph's Medical & Legal District, and downtown. It benefits from its location in the heart of four areas: St. Joseph's Medical & Legal District, S. Seminole Heights, N. Riverside Heights, and Tampa Heights, which is home to Stetson Law School, 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. The tenant mix is mostly medical-related. Ample parking is available, and units are allocated with signage on MLK Blvd.

Key Highlights

• Prime central Tampa location near St. Joseph's Medical & Legal District and downtown
• Desirable location in the heart of four highly sought‑after areas: St. Joseph's Medical & Legal District, S. Seminole Heights, N. Riverside Heights, and Tampa Heights
• Proximity to St. Joseph's Hospital

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$116,582

Cap Rate

4.02%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$2,331,640 $2.3M

Cap Rate 7%

$1,665,457 $1.7M

Cap Rate 9%

$1,295,356 $1.3M

Market Conditions

NOI Build-Up for 8,000 SF

Gross rent

$211.2K $26.40/SF

− Vacancy

−$16.9K −$2.11/SF

EGI

$194.3K $24.29/SF

− OpEx

−$77.7K −$9.72/SF

NOI

$116.6K $14.57/SF

Area

Tampa, FL

Vacancy

8.00%

Lease Rate

$26.40 /SF/Yr

Expense Ratio

40.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$2,331,640

Cap Rate 7%

$1,665,457

Cap Rate 9%

$1,295,356

Alternative Uses

Best Use

Healthcare Medical

$1.67M

$1.46M – $1.94M (±1% cap)

NOI $116,582 @ 7.0% cap · market cap 4.02%

Second Best

Office B

$1.55M

$1.36M – $1.81M (±1% cap)

NOI $108,720 @ 7.0% cap · market cap 3.75%

Theoretical Best

Office A

$1.86M

$1.63M – $2.17M (±1% cap)

NOI $130,464 @ 7.0% cap · market cap 4.50%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

Unlock full access to Insights Subscribe to Realmo Intelligence

Open Analytics

Current Use

Strip malls

Suggested Use

Top Pick Restaurant Dental Office Big Box & Wholesale Store Law Firm Building Supply Auto Parts Store

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

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

Market

Vacancy Rate% for Office in Tampa, FL

13.8% 2019

14.2% 2020

19.1% 2021

22.3% 2022

21.9% 2023

20.7% 2024

18.9% 2025

Questions? Ask Rey

Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.

What type of property is this? Where is this strip malls located? What is the asking price? Find similar properties What are key features of this property?

Similar For Sale Nearby

Vacant Medical Office Building

2715 W Virginia Ave, Tampa, FL 33607

$2,750,000

8,600 SF

View details

Class A Medical Office Building

2701 W Saint Isabel St, Tampa, FL 33607

$3,250,000

7,670 SF

View details

10-Unit Strip Mall

4211 E BUSCH Boulevard, Tampa, FL 33617

$2,200,000

8,492 SF

View details

Retail Office Strip Center

A-4211 E Busch Blvd, Tampa, FL 33612

$2,200,000

8,492 SF

View details

Medical Center With Operating Rooms

4703 N ARMENIA Avenue, Tampa, FL 33603

$5,696,553

8,036 SF

View details

Freestanding Medical Office Building

4915 Ehrlich Rd, Tampa, FL 33624

$1,850,000

5,915 SF

View details

Renovated Freestanding Medical Office

2511 W Dr Martin Luther King Jr Blvd, Tampa, FL 33607

$2,499,999

4,011 SF

View details

Built-Out Medical Office Space

4450 E FLETCHER AVENUE A, Tampa, FL 33613

$1,850,000

5,028 SF

View details

Leased Medical Office End Unit

10960 Sheldon Road, Tampa, FL 33626

$1,499,900

5,090 SF

View details

Renovated Office Building

4409 W EL PRADO BLVD, Tampa, FL 33629

$1,749,000

View details

Retail Center Near Leto High

7011 N MANHATTAN Ave, Tampa, FL 33614

$1,525,000

View details

Medical Office Property with Office Building

4306 W KENSINGTON Avenue, Tampa, FL 33629

$1,799,000

2,850 SF

View details

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 Blvd 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: Prime central Tampa location near St. Joseph's Medical & Legal District and downtown; Desirable location in the heart of four highly sought‑after areas: St. Joseph's Medical & Legal District, S. Seminole Heights, N. Riverside Heights, and Tampa Heights; Proximity to St. Joseph's Hospital