Tampa Office/Retail Strip
718-722 W DR MARTIN LUTHER KING JR BOULEVARD Tampa, FL 33603
For Sale
$2,900,000
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 Market349
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: Jul 25 at 6:38AM
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 For Office B
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 | $288.9k | $24.00 |
| − Vacancy | −$70.8k | −$5.88 |
| EGI | $218.1k | $18.12 |
| − OpEx | −$54.5k | −$4.53 |
| NOI | $163.6k | $13.59 |
12,036 SF · lease $24.00/SF/yr · vacancy 24.50% · expense 25.00%
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 local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Strip malls
FAQs
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.
