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Property profile & analytics
OFF-MARKET Estimated value $515,000
Warehouses

2821 Dr Martin Luther King Jr N St Saint Petersburg, FL 33704-2030

2,026 SF 0.14 ac lot Built 1963
Entity Owned 3-yr Hold Absentee Owner Free & Clear
Property ID
US18-4008593
Property summary
AI-generated overview

This exceptional off-market investment opportunity presents a 2,333 square foot warehouse building situated on a 6,264 square foot lot at 2821 Dr. Martin Luther King Jr St N, St. Petersburg, Florida 33704. Built in 1963, this property benefits from a highly visible street-front location in a bustling commercial district within the Tampa Bay Metro area. The building features two front roll-up doors opening onto a wide sidewalk, ideal for a cafe or similar use, and a large, prominent sign. Inside, the layout is primarily open space with two enclosed rooms, and a rear roll-up door provides access to rear parking, potentially suitable for outdoor seating. The generous CCT-1 zoning allows for a wide range of uses, including restaurants, cafes, boutiques, galleries, salons, spas, wellness centers, general offices, medical facilities, financial services, and even showroom or storage uses. Ample parking is available, and the property enjoys high foot traffic and proximity to major transportation routes. The asking price is $695,000. This presents a strong potential for high return on investment in a thriving market. The property's history includes retail uses, dating back to at least 1969.

Property profile
Verified
Property type Warehouses
Use group WAREHOUSE, STORAGE
Year built 1963
Construction MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area 2,026 SF
Lot 0.14 ac (6,103 SF)
APN 07-31-17-28332-000-0030
UPID US18-4008593
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
by Request
Comparable Approach Comparable
$539k
Blend (final) Blend
$515k
Owner & transaction history
Jacobsencustombuilders LLC · 3 yrs held
Jacobsencustombuilders LLC
since 2023
Last sale
$495,000
4 recorded transactions
2023
$495,000
2022
Price N/A
2016
Price N/A
2003
$95,000
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Auto repair, garage $705,000 +44.7%
Neighborhood: shopping center $645,000 +31.8%
Office building $600,000 +23.2%
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