Sign Up Successful!
You now have access to more from Realmo!
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    11600 Dr Martin Luther King Jr N St Saint Petersburg, FL 33716-2320

    • Office buildings
    • 59,513 SF
    • 6.00 lot acres
    OFF-MARKET
    Value Estimations
    $11,955,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US18-4362847
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • Office buildings

    Property Details for 11600 Dr Martin Luther King Jr N St

    Year built
    1980
    Construction
    CONCRETE BLOCKS
    Lot size
    6.00 lot acres
    Property size
    59,513 SF
    Property type
    Office buildings
    APN
    13-30-16-72715-000-0010
    APU
    133016727150000010

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $11,954,000
      Market price range: $12.0M - $25.5M
      AI Estimate
      $11,954,000
      Market price range: $12.0M - $25.5M

    • Alternative Use

      Use
      Estimation
      OFFICE BUILDING
      $17,685,000
      Current use
      NEIGHBORHOOD: SHOPPING CENTER
      $18,925,000
      Change: +7% Conversion: Difficult
      WAREHOUSE, STORAGE
      $14,355,000
      Change: -19% Conversion: Difficult

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Saint Petersburg
    County
    Pinellas
    State
    Florida
    Longitude
    -82.6482
    Latitude
    27.8776
    CBSA code
    45300
    CBSA name
    TAMPA-ST. PETERSBURG-CLEARWATER, FL METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2023
    $116,208
    $0.00
    $0.00
    $6,250,000
    -
    $1,522,626
    $4,727,374
    $6,250,000

    Comparable in this City

    • Value Estimation
      $24,650,000
      63,784 SF

      400 Carillon Pkwy

      OFFICE BUILDING (MULTI-STORY) • 63,784 SF
      400 Carillon Pkwy, Saint Petersburg, FL 33716-1290
      View Details
    • Value Estimation by Request
      279,295 SF

      880 Carillon Pkwy

      OFFICE BUILDING (MULTI-STORY) • 279,295 SF
      880 Carillon Pkwy, Saint Petersburg, FL 33716-1102
      View Details
    • Value Estimation
      $30,980,000
      72,400 SF

      100 Fountain N Pkwy

      OFFICE BUILDING (MULTI-STORY) • 72,400 SF
      100 Fountain N Pkwy, Saint Petersburg, FL 33716-1205
      View Details
    • Value Estimation
      $10,740,000
      53,468 SF

      11800 30th N Ct

      OFFICE BUILDING (MULTI-STORY) • 53,468 SF
      11800 30th N Ct, Saint Petersburg, FL 33716-1848
      View Details
    • Value Estimation
      $33,260,000
      77,728 SF

      740 Carillon Pkwy

      OFFICE BUILDING (MULTI-STORY) • 77,728 SF
      740 Carillon Pkwy, Saint Petersburg, FL 33716-1105
      View Details
    • Value Estimation
      $7,520,000
      35,284 SF

      11201 Corporate N Cir

      OFFICE BUILDING (MULTI-STORY) • 35,284 SF
      11201 Corporate N Cir, Saint Petersburg, FL 33716-3701
      View Details

    Similar Nearby for Sale

    • $4,000,000
      18,850 SF

      St. Petersburg Condo Portfolio

      24 Units, High ROI, Seller Financing
      115 112Th Ave, St. Petersburg, FL 33716
      View Details
    • $11,250,000
      85,558 SF

      Saint Petersburg Industrial Gem

      85,558 SF building, 4.22 acres, lease-option
      3051 Tech Dr, Saint Petersburg, FL 33716
      View Details
    • Contact for pricing
      67,521 SF

      220 Carillon Pkwy

      Specialty properties • 67,521 SF
      220 Carillon Pkwy, St. Petersburg, FL 33716
      View Details
    • Contact for pricing
      67,521 SF

      TopGolf Investment Opportunity in St. Petersburg, FL

      Brand-new, NNN-leased TopGolf building.
      220 N Carillon Pky, Saint Petersburg, FL 33716
      View Details
    • Contact for pricing

      Cleared Land in St. Petersburg

      Cleared and paved land suitable for retail, commercial, or multifamily.
      36th 112Th Ave, St Petersburg, FL 33716
      View Details

    Similar Nearby for Lease

    • $29 SF/Yr
      3,784 SF

      Class A Office Space

      Upscale office building in Carillon/Gateway area of St. Petersburg.
      12450 Roosevelt Blvd N, St Petersburg, FL 33716
      View Details
    • Contact for pricing
      8,141 SF

      Class A Office Space

      Modern office building in Gateway St Petersburg submarket.
      400 Carillon Pkwy, St Petersburg, FL 33716
      View Details
    • Contact for pricing
      1,897 SF

      Class A Office Space

      234,986 SF office space in St Petersburg, Florida.
      450 Carillon Pkwy, St Petersburg, FL 33716
      View Details
    • $10 SF/Yr
      8,394 SF

      St. Petersburg Executive Office Space

      Prime Office/Warehouse Space Available Now
      2810 Scherer Dr, St. Petersburg, FL 33716
      View Details
    • Contact for pricing
      88,447 SF

      St. Petersburg Executive Office Building

      Class A Office, Fully Leased, Prime Location
      10101 Dr, St. Petersburg, FL 33716
      View Details
    • $26 SF/Yr
      11,268 SF

      St Petersburg Office Space Available

      Office space with fitness center and redundant power supply.
      160 N Fountain Pkwy, St Petersburg, FL 33716
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    11600 Dr Martin Luther King Jr N St
    Saint Petersburg, FL 33716-2320
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.