Two-Building Medical Office Retail
718-722 W Dr Martin Luther King Jr Boulevard TAMPA, Tampa, FL 33603
New
Two-building strip center with ample parking and MLK Blvd signage in Tampa’s medical and legal corridor.
Property size:
12,036 SFPrice / SF:
$240/SF- Added:
- Jul 7, 2026
- Days on Market:
- 2
- Last Refresh:
- Jul 7 at 5:20 am
Property Features for 718-722 W Dr Martin Luther King Jr Boulevard TAMPA
General Information
- Standard status
- Active
- Size
- 12,036 SF
Building Details
- Year Built
- 1975
Listing office (904) 569-5862
Listing date Jul 7, 2026
Source Movetojacksonville
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 Morgan Friesen
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
- Ample parking with enough spaces for tenant and visitor needs
- Units allocated with signage on MLK Blvd
- Central Tampa positioning near St. Joseph’s Medical & Legal District and St. Joseph’s Hospital; about 1 mile west of I‑275
Overview
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.
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.
Local 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 | $317.8k | $26.40 |
| − Vacancy | −$25.4k | −$2.11 |
| EGI | $292.3k | $24.29 |
| − OpEx | −$116.9k | −$9.72 |
| NOI | $175.4k | $14.57 |
12,036 SF · lease $26.40/SF/yr · vacancy 8.00% · expense 40.00%
Alternative Uses
Best Use
Healthcare Medical
$2.51M
$2.19M – $2.92M
NOI $175,398 @ 7.0% cap · market cap 6.05%
Second Best
Office B
$2.34M
$2.04M – $2.73M
NOI $163,569 @ 7.0% cap · market cap 5.64%
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 local authorities.
Location Intelligence
Current Use by Public Records
Strip malls
Location Insight
- Map
- Local Demand
- City
- Tampa
- County
- Hillsborough
- State
- Florida
- Longitude
- -82.4691034
- Latitude
- 27.9813117
Nearby Similar for Sale
FAQs
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 Boulevard TAMPA 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
