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
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    2821 Dr Martin Luther King Jr St St. Petersburg, FL 33704

    • Warehouses
    • 2,026 SF
    • 0.14 lot acres
    For Sale
    View listing
    $695,000
    Last Sale
    Mar 30, 2023
    $495,000
    Value Estimations
    Cap Rate Potential
    2.4%
    Warehouses
    Location Intelligence
    Property ID
    US18-4008593
    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 2821 Dr Martin Luther King Jr St

    Year built
    1963
    Construction
    MASONRY/CONCRETE MASONRY UNITS (CMUS)
    Lot size
    0.14 lot acres
    Property size
    2,026 SF
    Property type
    Warehouses
    APN
    07-31-17-28332-000-0030
    APU
    73117283320000030

    Description

    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.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $725,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $539,000
      Market price range: $293k - $723k
      AI Estimate
      $539,000
      Market price range: $293k - $723k

    • Alternative Use

      Use
      Estimation
      WAREHOUSE, STORAGE
      $490,000
      Current use
      AUTO REPAIR, GARAGE
      $705,000
      Change: +45% Conversion: Easy
      NEIGHBORHOOD: SHOPPING CENTER
      $645,000
      Change: +32% Conversion: Moderate
      OFFICE BUILDING
      $600,000
      Change: +23% Conversion: Difficult
      RETAIL STORES
      $480,000
      Change: -2% Conversion: Moderate

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

    Location Insight

    • Map
    • Local Demand
    City
    Saint Petersburg
    County
    Pinellas
    State
    Florida
    Longitude
    -82.6464
    Latitude
    27.798
    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
    $4,270
    $0.00
    $0.00
    $215,000
    -
    $163,726
    $51,274
    $215,000

    Comparable in this City

    • Value Estimation
      $2,640,000
      5,250 SF

      425 33rd N Ave

      WAREHOUSE, STORAGE • 5,250 SF
      425 33rd N Ave, Saint Petersburg, FL 33704-1329
      View Details
    • Value Estimation
      $2,030,000
      12,600 SF

      1701 4th N St

      WAREHOUSE, STORAGE • 12,600 SF
      1701 4th N St, Saint Petersburg, FL 33704
      View Details
    • Value Estimation
      $2,835,000
      15,147 SF

      898 30th N Ave

      MINI-WAREHOUSE, STORAGE • 15,147 SF
      898 30th N Ave, Saint Petersburg, FL 33704-2023
      View Details
    • Value Estimation
      $1,060,000
      8,460 SF

      325 20th N Ave

      MANUFACTURING (LIGHT) • 8,460 SF
      325 20th N Ave, Saint Petersburg, FL 33704
      View Details
    • Value Estimation by Request
      240 SF

      1601 4th N St

      MANUFACTURING (LIGHT) • 240 SF
      1601 4th N St, Saint Petersburg, FL 33704-4301
      View Details
    • Value Estimation by Request
      16,448 SF

      1501 Dr M.l.k. Jr St

      Hotels • 16,448 SF
      1501 Dr M.l.k. Jr St, St. Petersburg, FL 33704
      View Details

    Similar Nearby for Sale

    • $695,000
      2,333 SF

      St. Petersburg Warehouse Opportunity

      Prime Retail/Warehouse, High Visibility
      2821 Dr Martin Luther King Jr St, St. Petersburg, FL 33704
      View Details
    • $975,000
      1,725 SF

      St. Petersburg Retail/Office Building

      Two-story retail/office building on a major thoroughfare.
      1510 Dr Martin Luther King Jr St N, St Petersburg, FL 33704
      View Details
    • $1,095,000
      Pending

      Elevated Corner Lot in Snell

      Rare opportunity to build in a prime St. Petersburg location.
      1101 Snell Isle Blvd NE, St Petersburg, FL 33704
      View Details
    • $829,000
      0.21 Acres

      Snell Isle Ready-to-Build Lot

      Premium 0.21-acre lot in Snell Isle neighborhood.
      1235 Cordova Blvd NE, St Petersburg, FL 33704
      View Details
    • $2,900,000
      0.33 Acres

      Water-View Lot in St. Petersburg

      Prime lot to build a custom estate home with water views.
      1956 Coffee Pot Blvd NE, St Petersburg, FL 33704
      View Details
    • $2,400,000
      Pending

      Turnkey Medical and Wellness Facility

      Equipped medical/wellness facility in St. Petersburg, move-in ready.
      1700 Dr Martin Luther King Jr St N, St Petersburg, FL 33704
      View Details

    Similar Nearby for Lease

    • Contact for pricing

      St. Petersburg Restaurant/Retail Opportunity

      Prime location in St. Petersburg for lease or build-to-suit.
      2221 4Th St N, St Petersburg, FL 33704
      View Details
    • $25 SF/Yr
      43,740 SF

      St. Petersburg Office Space for Lease

      Prime St. Pete office suites, immediate occupancy.
      3637 4Th St, St. Petersburg, FL 33704
      View Details
    • Contact for pricing

      Retail Space on 4th Street

      Retail spaces available near University of South Florida St. Pete.
      2424 4Th St N, St Petersburg, FL 33704
      View Details
    • Contact for pricing
      1,700 SF

      Suburban Office Building Near Hospital

      Six-story office building suitable for professional or medical use.
      2600 Dr Martin Luther King Jr St N, Saint Petersburg, FL 33704
      View Details
    • $22 SF/Yr
      2,111 SF

      Available Office Space Near Hospital

      2,111 SF office space near St. Petersburg General Hospital.
      5747 38Th Ave N, Saint Petersburg, FL 33704
      View Details
    • $36,000

      Nicely Appointed Office Space Available

      Office space with large lobby, close to downtown.
      1510 4Th St N, St Petersburg, FL 33704
      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.
    2821 Dr Martin Luther King Jr St
    St. Petersburg, FL 33704
    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.