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Property profile & analytics
FOR SALE
Office buildings
1640 Dr Martin Luther King Jr St S, St Petersburg, FL 33701
Entity Owned
2-yr Hold
~
Est. High Equity
Property ID
US18-5080440
For Sale
1 / 2
$450,000
1640 Dr Martin Luther King Jr St S, St Petersburg, FL 33701
View Listing →
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING
Year built
1995
Construction
FRAME
Total area
1,901 SF
Lot
0.29 ac (12,436 SF)
APN
30-31-17-21564-000-0010
UPID
US18-5080440
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$485k
Comparable Approach
Comparable
$714k
Blend (final)
Blend
$670k
Owner & transaction history
1640 Dr Mlk St LLC · 2 yrs held
1640 Dr Mlk St LLC
since 2023
Last sale
$525,000
6 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Cap rate
Implied · in-place · derived from last sale + estimated NOI
Implied Cap rate
#1
Implied · in-place · NOI ÷ last sale
In-place · derived from last sale + estimated NOI
Cap rate, NOI & submarket benchmark
Implied cap rate vs St Petersburg submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs St Petersburg submarket · NOI estimate · typical band, median & reading
Refine your cap rate
8-question underwriting flow
1.
Property current status — Going-In vs Stabilized
2.
Price for denominator — asking / offer / market
3.
Leasing status & lease structure (NNN / Gross)
4.
Tenant risk profile & vacancy assumption
5.
Upload T12 / rent roll / OM (optional)
Refine in 60 seconds, get exact suggested price
T12 upload · Submarket benchmarks · Sensitivity grid
Suggested price · 3 cap rate anchors
Income approach @ 5% / 7% / 9% — aggressive / typical / conservative
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · Implied $/SF per anchor · Sensitivity grid
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · implied $/SF · sensitivity
Value
AI, CAP & Alternative Use estimations · Realmo proprietary blendValue Estimations
Based on Realmo’s proprietary methodology
AI Approach
Method
Estimation
Statistic approach
by Request
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
$525,000
6.5%
$485,000
7%
$450,000
Blend value · Realmo final
$670k
Range $603k – $737k · ±10% · vs last sale $525k (Sep 26 2023)
Last sale anchor
$525k
Sep 26 2023
Realmo estimate · informational only.
These numbers are calculated by our models from public records and may not reflect actual market value.
Not an appraisal.
Verify with a licensed appraiser before transacting. Realmo accepts no liability for divergence from real-world outcomes.
View the full estimation — every method, every assumption
Confidence drivers & risk notes · Custom comparable set · Free for first 3 / day
Full estimation methodology
Every method · every assumption · confidence drivers
Price per SF
Sale + rent benchmarks
Subject property
$352 / SF
Submarket sale & rent benchmarks
Median sale $/SF · Asking & closed rent · Submarket vacancy
Submarket sale & rent benchmarks
Median sale $/SF · asking & closed rent · submarket vacancy
Property tax & assessments
Tax year 2023Property tax & assessments
Tax year 2023
Tax billed
$4,289
Tax year 2023
Assessed value
$240,000
Assessed 2023
Previous assessed
$200,000
+20.0% YoY
Effective rate
1.79%
On assessed value
Land market value
$111,318
Improvement market value
$128,682
Total market value
$240,000
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Recent comparable sales
Sale price & $/SF · sale date & distance · adjustments
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Office buildings
Use group
OFFICE BUILDING
Status
For Sale
Year built
1995
Construction
FRAME
Heating
CENTRAL
Cooling
CENTRAL
Stories
1
Bathrooms
2
Total area
1,901 SF
Lot
0.29 ac (12,436 SF)
APN
30-31-17-21564-000-0010
UPID
US18-5080440
Jurisdiction
PINELLAS
Zoning & alternative use
Zoning · permitted uses
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Building & site characteristics
From public records
Year built
1995
Construction
FRAME
Heating
CENTRAL
Cooling
Yes
Stories
1
Bathrooms
2
Lot
0.29 ac
Current owner
From public records · entity-resolved
1640 Dr Mlk St LLC
Entity
Mailing address
110 E BROWARD BLVD STE #1700, FT LAUDERDALE, FL 33301-3500
Ownership since
2023
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
6 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Sep 26, 2023
$525,000
1640 Dr Mlk St LLC
Cedar Springs LLC
Warranty Deed
$315,000 · Cchc Fund III LP
Sep 21, 2023
$250,000
Cedar Springs LLC
Jeremy Wharton
Warranty Deed
—
Jul 5, 2007
—
Matthew F Reid
St Petersburg Neighborhood Hsn
Grant Deed
related
—
Apr 4, 2007
$125,000
Matthew F Reid
St Petersburg Neighborhood Housing
Corporation Deed
$99,200 · Branch Banking And Trust Co
—
—
Neighborhood Hsng Svcs St. Pete
—
Deed Of Trust
related
$175,000 · Republic Bank
—
—
Neighborhood Hsng Svcs St. Pete
—
Deed Of Trust
related
$152,000 · Republic Bank
Coming soon
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Coming soon
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.
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