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    Property profile & analytics

    1201 Dr Martin Luther King Jr Blvd Plant City, FL 33563-5109

    • Warehouses
    • 18,234 SF
    • 0.90 lot acres
    OFF-MARKET
    Last Sale
    Apr 16, 2024
    $1,850,000
    Value Estimations
    $1,850,000
    Show details
    Cap Rate Potential
    9.1%
    Warehouses
    Location Intelligence
    Property ID
    US18-5296949
    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

    • Warehouses

    Property Details for 1201 Dr Martin Luther King Jr Blvd

    Year built
    1967
    Construction
    MASONRY/CONCRETE MASONRY UNITS (CMUS)
    Lot size
    0.90 lot acres
    Property size
    18,234 SF
    Zone code
    M-1
    Property type
    Warehouses
    Property subtype
    Self storage facilities
    APN
    P2928225CZ000002000010
    APU
    P2928225CZ000002000010

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $1,850,000
      ML approach
      $1,850,000

    • Alternative Use

      Use
      Estimation
      WAREHOUSE, STORAGE
      $1,330,000
      Current use
      RETAIL STORES
      $2,735,000
      Change: +105% Conversion: Moderate

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

    Location Insight

    • Map
    • Local Demand
    City
    Plant City
    County
    Hillsborough
    State
    Florida
    Longitude
    -82.134
    Latitude
    28.0121
    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
    $12,533
    $176,355
    $533,845
    $710,200
    -
    $176,355
    $533,845
    $710,200

    Comparable in this City

    • Value Estimation
      $4,730,000
      44,105 SF

      1601 Frontage Rd

      MINI-WAREHOUSE, STORAGE • 44,105 SF
      1601 Frontage Rd, Plant City, FL 33563-2039
      View Details
    • Value Estimation
      $660,000
      8,024 SF

      606 Hitchcock St

      MINI-WAREHOUSE, STORAGE • 8,024 SF
      606 Hitchcock St, Plant City, FL 33563-5663
      View Details
    • Value Estimation by Request
      2,950 SF

      1005 Alexander St

      MINI-WAREHOUSE, STORAGE • 2,950 SF
      1005 Alexander St, Plant City, FL 33563-8403
      View Details
    • Value Estimation by Request
      2,700 SF

      1408 Mercantile Ct

      MINI-WAREHOUSE, STORAGE • 2,700 SF
      1408 Mercantile Ct, Plant City, FL 33563-1151
      View Details
    • Value Estimation
      $510,000
      16,980 SF

      203 Laura St

      MINI-WAREHOUSE, STORAGE • 16,980 SF
      203 Laura St, Plant City, FL 33563-5506
      View Details
    • Value Estimation
      $18,415,000
      172,465 SF

      809 Woodrow Wilson St

      MINI-WAREHOUSE, STORAGE • 172,465 SF
      809 Woodrow Wilson St, Plant City, FL 33563-4945
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      66,480 SF

      Plant City Warehouse For Sale

      66,480 SF warehouse with 6.5% cap rate.
      1401 Mercantile Ct, Plant City, FL 33563
      View Details
    • $140,000

      Land For Sale

      Land available for sale.
      1308 W Washington St, Plant City, FL 33563
      View Details
    • $57,000

      Florida 55+ Community Mobile Home

      Well-maintained 2BR mobile home with upgrades in secure community.
      1005 Whitehurst Rd, Plant City, FL 33563
      View Details
    • $445,000
      2,506 SF

      Plant City Commercial Office Opportunity

      Professional office space with income potential in Plant City, FL.
      702 W Dr Martin Luther King Jr Blvd, Plant City, FL 33563
      View Details
    • $665,000
      3,336 SF

      Turnkey Multi-Family Investment Opportunity

      Six-unit multifamily property in Plant City with strong income potential.
      501 W Baker St, Plant City, FL 33563
      View Details
    • $1,250,000
      3.20 Acres

      Plant City Multifamily Land

      3.2-acre development site, R1-A zoned.
      1202 Walker St, Plant City, FL 33563
      View Details

    Similar Nearby for Lease

    • $60,000
      435,600 SF

      Plant City Industrial Land for Lease

      10 Acres, Class A, 280 Parking Spaces
      0 Henderson Way, Plant City, FL 33563
      View Details
    • $32 SF/Yr
      2,038 SF

      Retail Space in Plant City

      Retail space for lease in a renovated Plant City center.
      2104-2302 James L Redman Pkwy, Plant City, FL 33563
      View Details
    • Contact for pricing
      1,591 SF

      Office Space Near Hospital

      Office space for rent across from the hospital.
      1601 W Reynolds St, Plant City, FL 33563
      View Details
    • Contact for pricing
      1,600 SF

      Retail Space Near I-4

      Retail space with convenient access to I-4 and Downtown Tampa.
      2305 Thonotosassa Rd, Plant City, FL 33563
      View Details
    • $103,500

      Turnkey Medical Space Available

      Shared medical space near hospital with multiple rooms and amenities.
      702 N Alexander St, Plant City, FL 33563
      View Details
    • Contact for pricing
      43,597 SF

      Established Retail Center For Lease

      Retail center with national tenants, south of downtown Plant City.
      1401-1427 S Collins St, Plant City, FL 33563
      View Details
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    Plant City, FL 33563-5109
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    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
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