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Two-Building Medical Office Retail Center
For Sale
$2,900,000

718-722 W DR MARTIN LUTHER KING JR BLVD, Tampa, FL 33603

Two-building strip center with ample parking and MLK Blvd signage in Tampa’s medical and legal corridor.

Property Size12,036 SF
Price / SF$241.67
Days on Market440

Property Features for 718-722 W DR MARTIN LUTHER KING JR BLVD

General Information

Standard status Active
Size 12,036 SF
Property subtype Office

Site & Location

Neighborhood Riverside Heights Civic Association
Highway Access Yes

Taxes and HOA fees

Annual Taxes $29,196

Building Details

Building Size 12,036 SF
Year Built 1975
Tenancy Multi
Listing Agency: all faults. Users are encouraged to consult their own data sources to confirm the accuracy of all Supplemental Data before using the Supplemental Data as a basis for any decision. \u003ca href=\"http://www.rdesk.com/communityinfo/NSR_Sources.htm\" target=\"blank_\"\u003eComplete list of data sources\u003c/a\u003e.\u003c/p\u003e\u003cp align=\"left\"\u003e \u003c/p\u003e\u003cp align=\"left\" id=\"iayuy\"\u003eData Last Updated: 6/15/2026, 4:56 PM UTC\u003c/p\u003e\u003cp align=\"left\"\u003e \u003c/p\u003e\u003cp id=\"ie2on\"\u003e\u003cstrong\u003eListing information courtesy of HUNTER REALTY \u0026 INVESTMENT LLC\u003c/strong\u003e\u003c/p\u003e\u003cp id=\"ixbbg\"\u003e\u003cstrong\u003e\u003cimg src=\"https://assets.wolfnet.com/reciprocity_logos/MLSLogo.png\" alt=\"\"/\u003e\u003c/strong\u003e\u003c/p\u003e","listingDetailCourtesy":"","listingDetailFooter":"\u003cp style=\"text-align: left;\"\u003e\u003cspan style=\"font-size: 8pt;\"\u003eCourtesy of HUNTER REALTY \u0026 INVESTMENT LLC, Evan Lipstein \u0026nbsp;Listing Contact: 813-728-7771\u0026nbsp;\u003c/span\u003e\u003c/p\u003e\n\u003cp style=\"text-align: left;\"\u003e\u003cspan style=\"font-size: 8pt;\"\u003eListings courtesy of Stellar MLS as distributed by MLS GRID\u003c/span\u003e\u003c/p\u003e\n\u003cp style=\"text-align: left;\"\u003e\u003cspan style=\"font-size: 8pt;\"\u003eAll information deemed reliable but not guaranteed and should be independently verified. All properties are subject to prior sale, change or withdrawal. Neither listing broker(s) nor Judi Beck shall be responsible for any typographical errors, misinformation, misprints and shall be held totally harmless. Properties displayed may be listed or sold by various participants in the MLS.\u0026nbsp;\u003c/span\u003e\u003c/p\u003e\n\u003cp style=\"text-align: left;\"\u003e\u003cspan style=\"font-size: 8pt;\"\u003eBased on information submitted to the MLS GRID as of 4:56 PM UTC on 6/15/2026. All data is obtained from various sources and may not have been verified by broker or MLS GRID. Supplied Open House Information is subject to change without notice. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.\u003c/span\u003e\u003c/p\u003e\n\u003cp style=\"text-align: left;\"\u003e\u003cspan style=\"font-size: 8pt;\"\u003e\u0026copy;2026 Stellar MLS . All rights reserved.\u003c/span\u003e\u003c/p\u003e\n\u003cp style=\"text-align: left;\" align=\"left\"\u003e\u003cspan style=\"font-size: 10pt;\"\u003e\u003cbr\u003e\u003c/span\u003e\u003cimg style=\"float: left;\" src=\"https://res.cloudinary.com/luxuryp/images/w_960,c_limit,f_auto,q_auto/nmsjeeofiezrwpwftb5v/stellarmls_horizontal_rgb\" alt=\"\" width=\"128\" height=\"33\"\u003e\u003c/p\u003e","logo":null,"specificComplianceRules":{"__typename":"SpecificComplianceRules","displayDisclaimerOnTop":false,"displayDisclaimerAboveOverview":true,"formatListingContact":false}},"taxAnnualAmountString":"29196.96","associationFee":0,"associationFeeFrequency":"MONTH","lpShowAvm":true,"tags":[],"propertyVideoUrl":null,"virtualTourUrl":null,"acreage":0.1790633608815427,"bathroomsTotal":0,"bathroomsFull":null,"bedroomsTotal":null,"garageSpaces":null,"listingContractDate":"2025-08-11T00:00:00.000Z","lpListingOnMarketTimestamp":"2025-08-11T00:00:00.000Z","mlsStatus":"Active","updatedAt":"2026-06-01T14:16:19.820Z","availabilityDate":null,"seniorCommunityYn":null,"activationDate":null,"moreInformationUrl":null},"countryCode":"US","ssrHostname":"judibeck.com","__APOLLO_STATE__":{"MlsProvider:mlsgrid_mfrmls":{"__typename":"MlsProvider","id":"mlsgrid_mfrmls","name":"FL
Listed By: the operator of this website as a convenience to users. This Supplemental Data is not provided or reviewed by FL - Stellar MLS / Mid Florida Regional MLS (MFRMLS). The operator of this website updates the Supplemental Data from time to time, but it does not represent, warrant or otherwise promise that the Supplemental Data is current, free from defects, or error-free. All Supplemental Data is provided AS IS
Source: Judibeck
Added: Aug 11, 2025 Changed: Oct 12 Last Checked: Oct 23 at 3:58PM

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 all faults. Users are encouraged to consult their own data sources to confirm the accuracy of all Supplemental Data before using the Supplemental Data as a basis for any decision. \u003ca href=\"http://www.rdesk.com/communityinfo/NSR_Sources.htm\" target=\"blank_\"\u003eComplete list of data sources\u003c/a\u003e.\u003c/p\u003e\u003cp align=\"left\"\u003e \u003c/p\u003e\u003cp align=\"left\" id=\"iayuy\"\u003eData Last Updated: 6/15/2026, 4:56 PM UTC\u003c/p\u003e\u003cp align=\"left\"\u003e \u003c/p\u003e\u003cp id=\"ie2on\"\u003e\u003cstrong\u003eListing information courtesy of HUNTER REALTY \u0026 INVESTMENT LLC\u003c/strong\u003e\u003c/p\u003e\u003cp id=\"ixbbg\"\u003e\u003cstrong\u003e\u003cimg src=\"https://assets.wolfnet.com/reciprocity_logos/MLSLogo.png\" alt=\"\"/\u003e\u003c/strong\u003e\u003c/p\u003e","listingDetailCourtesy":"","listingDetailFooter":"\u003cp style=\"text-align: left;\"\u003e\u003cspan style=\"font-size: 8pt;\"\u003eCourtesy of HUNTER REALTY \u0026 INVESTMENT LLC, Evan Lipstein \u0026nbsp;Listing Contact: 813-728-7771\u0026nbsp;\u003c/span\u003e\u003c/p\u003e\n\u003cp style=\"text-align: left;\"\u003e\u003cspan style=\"font-size: 8pt;\"\u003eListings courtesy of Stellar MLS as distributed by MLS GRID\u003c/span\u003e\u003c/p\u003e\n\u003cp style=\"text-align: left;\"\u003e\u003cspan style=\"font-size: 8pt;\"\u003eAll information deemed reliable but not guaranteed and should be independently verified. All properties are subject to prior sale, change or withdrawal. Neither listing broker(s) nor Judi Beck shall be responsible for any typographical errors, misinformation, misprints and shall be held totally harmless. Properties displayed may be listed or sold by various participants in the MLS.\u0026nbsp;\u003c/span\u003e\u003c/p\u003e\n\u003cp style=\"text-align: left;\"\u003e\u003cspan style=\"font-size: 8pt;\"\u003eBased on information submitted to the MLS GRID as of 4:56 PM UTC on 6/15/2026. All data is obtained from various sources and may not have been verified by broker or MLS GRID. Supplied Open House Information is subject to change without notice. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.\u003c/span\u003e\u003c/p\u003e\n\u003cp style=\"text-align: left;\"\u003e\u003cspan style=\"font-size: 8pt;\"\u003e\u0026copy;2026 Stellar MLS . All rights reserved.\u003c/span\u003e\u003c/p\u003e\n\u003cp style=\"text-align: left;\" align=\"left\"\u003e\u003cspan style=\"font-size: 10pt;\"\u003e\u003cbr\u003e\u003c/span\u003e\u003cimg style=\"float: left;\" src=\"https://res.cloudinary.com/luxuryp/images/w_960,c_limit,f_auto,q_auto/nmsjeeofiezrwpwftb5v/stellarmls_horizontal_rgb\" alt=\"\" width=\"128\" height=\"33\"\u003e\u003c/p\u003e","logo":null,"specificComplianceRules":{"__typename":"SpecificComplianceRules","displayDisclaimerOnTop":false,"displayDisclaimerAboveOverview":true,"formatListingContact":false}},"taxAnnualAmountString":"29196.96","associationFee":0,"associationFeeFrequency":"MONTH","lpShowAvm":true,"tags":[],"propertyVideoUrl":null,"virtualTourUrl":null,"acreage":0.1790633608815427,"bathroomsTotal":0,"bathroomsFull":null,"bedroomsTotal":null,"garageSpaces":null,"listingContractDate":"2025-08-11T00:00:00.000Z","lpListingOnMarketTimestamp":"2025-08-11T00:00:00.000Z","mlsStatus":"Active","updatedAt":"2026-06-01T14:16:19.820Z","availabilityDate":null,"seniorCommunityYn":null,"activationDate":null,"moreInformationUrl":null},"countryCode":"US","ssrHostname":"judibeck.com","__APOLLO_STATE__":{"MlsProvider:mlsgrid_mfrmls":{"__typename":"MlsProvider","id":"mlsgrid_mfrmls","name":"FL

Rey
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.

Investment Insights

Based on property information with market context.

This professional office/retail strip center features two stand-alone buildings, with approximately 4,000 and 8,000 square feet, offering a mix geared mostly toward medical-related tenants. Units are allocated with signage on W. Dr. Martin Luther King Jr. Boulevard, supporting visibility for both office and supporting retail uses. The property also provides ample on-site parking to accommodate tenant and visitor needs.

Located on W. Dr. Martin Luther King Jr. Boulevard just east of the River, the center is described as centrally positioned within Tampa. It is approximately one mile west of I-275 and is close to downtown. The remarks highlight adjacency to the St. Joseph’s Medical & Legal District and proximity to St. Joseph’s Hospital, placing the asset within a concentrated healthcare and legal services area.

For tenants and buyers looking for a centrally located medical office environment with established tenant mix, this property offers a straightforward operating footprint across two buildings. The prominent MLK Boulevard signage and generous parking can support patient traffic and customer access, while the office/retail configuration may allow complementary uses within the same overall center.

Key Highlights

  • Two‑building office/retail strip center on W. Dr. Martin Luther King Jr. Blvd., just east of the River
  • Total building area: 12,036 SF across 2 stand‑alone buildings (approx. 4,000 SF and 8,000 SF)
  • Land area: 0.71 acres (7,800 SF) with lot dimensions 60 x 130; 3 lots

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr
$174,874
Cap Rate
6.03%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$3,497,480 $3.5M
Cap Rate 7%
$2,498,200 $2.5M
Cap Rate 9%
$1,943,044 $1.9M
Market Conditions
NOI Build-Up for 12,000 SF
Gross rent
$316.8K $26.40/SF
− Vacancy
−$25.3K −$2.11/SF
EGI
$291.5K $24.29/SF
− OpEx
−$116.6K −$9.72/SF
NOI
$174.9K $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%
$3,497,480
Cap Rate 7%
$2,498,200
Cap Rate 9%
$1,943,044

Alternative Uses

Best Use
Healthcare Medical
$2.50M
$2.19M – $2.91M (±1% cap)
NOI $174,874 @ 7.0% cap · market cap 6.03%
Second Best
Office B
$2.33M
$2.04M – $2.72M (±1% cap)
NOI $163,080 @ 7.0% cap · market cap 5.62%
Theoretical Best
Office A
$2.80M
$2.45M – $3.26M (±1% cap)
NOI $195,696 @ 7.0% cap · market cap 6.75%
Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

Contact the owner directly Get the owner's phone numbers and email
Open Analytics

Current Use

Strip malls

Suggested Use

Top Pick Electrical Service Furniture & Home Goods Bakery Locksmith Big Box & Wholesale Store (Bike/Boat/Book/etc) 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.

Lease Details

Multi-tenant
Tenancy
Yes
Highway access

Location Intelligence

Trade Area within ½ mile

929
Businesses Nearby

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

13.8% 2019
14.2% 2020
19.1% 2021
22.3% 2022
21.9% 2023
20.7% 2024
18.9% 2025

Frequently Asked Questions

What type of property is this?
Strip mall - Two-building strip center with ample parking and MLK Blvd signage in Tampa’s medical and legal corridor.
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: Two‑building office/retail strip center on W. Dr. Martin Luther King Jr. Blvd., just east of the River; Total building area: 12,036 SF across 2 stand‑alone buildings (approx. 4,000 SF and 8,000 SF); Land area: 0.71 acres (7,800 SF) with lot dimensions 60 x 130; 3 lots
More about this property
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