Corner Lot Office
J-1640 Dr Martin Luther King Jr Street S St Petersburg, FL 33701
J-1640 Dr Martin Luther King Jr Street S, St Petersburg, FL, 33701
$450,000
For Sale
$450,000
Corner office space with its own parking lot and wheelchair accessibility in a CRA zoning district.
Property Size1,901 SF
Price / SF$236.72
Days on Market131
Property Features for J-1640 Dr Martin Luther King Jr Street S
General Information
- Standard status
- Active
- Size
- 1,901 SF
Listing agency
lokation
(954) 545-5583
Listed by
Monica Trevino Thurman · License #3576055
(954) 545-5583
Source
Exprealty
Added: Mar 13 Updated: Jul 20 at 6:02PM Checked: Jul 20 at 6:02PM
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 lokation
Investment Insights
Based on property information with market context.
This corner lot office space includes its own parking lot and is wheelchair accessible. The property is presented for sale, with the seller noting the highest and best use is redevelopment.
The building is located within the CRA zoning district and fronts on Dr Martin Luther King Jr Street S, described in the remarks as highly trafficked.
Seller financing options may be available, and the most recent appraisal is available upon request.
The building is located within the CRA zoning district and fronts on Dr Martin Luther King Jr Street S, described in the remarks as highly trafficked.
Seller financing options may be available, and the most recent appraisal is available upon request.
Key Highlights
- Corner lot office space on highly trafficked MLK street
- Includes its own parking lot
- Building is wheelchair accessible
Local 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 | $49.5k | $26.04 |
| − Vacancy | −$10.1k | −$5.34 |
| EGI | $39.4k | $20.70 |
| − OpEx | −$9.8k | −$5.18 |
| NOI | $29.5k | $15.53 |
1,901 SF · lease $26.04/SF/yr · vacancy 20.50% · expense 25.00%
Alternative Uses
Best Use
Office B
$421.7K
$369.0K – $491.9K
NOI $29,516 @ 7.0% cap · market cap 6.56%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$494.5K
$432.7K – $576.9K
NOI $34,613 @ 7.0% cap · market cap 7.69%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Office Units
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FAQs
What type of property is this?
Office units - Corner office space with its own parking lot and wheelchair accessibility in a CRA zoning district.
Where is this office units located?
The property is located at J-1640 Dr Martin Luther King Jr Street S St Petersburg, FL.
What is the asking price?
The asking price for this property is $450,000.
What are key features of this property?
This property features: Corner lot office space on highly trafficked MLK street; Includes its own parking lot; Building is wheelchair accessible
