1033 Dr Martin Luther King Jr St N - Medical FOR SALE


Saint Petersburg, FL 33701- Crescent Lake
$3,650,000 USD
239-272-7006
1033 Dr Martin Luther King Jr St N, Saint Petersburg, FL for Sale
$3,650,000 USD
Medical - FOR SALE
1/49
null | 7.5% Cap Rate

1033 Dr Martin Luther King Jr St N
Saint Petersburg, FL 33701
Crescent Lake


HIGHLIGHTS

  • New 5-Year NNN Sale-Leaseback | 7.50% Cap Rate | 3% Annual Escalations
  • Established Corporate Headquarters | National Healthcare Technology Tenant
  • ~10,500 SF Clear-Span Building | Tall Ceilings | Future Multi-Tenant Potential
  • Concrete Block Construction | Abundant Natural Light | Ample On-Site Parking
  • Prime MLK North Corridor | Minutes to Downtown St. Petersburg & I-275
  • New Monument Signage | Excellent Visibility to Northbound & Southbound Traffic

OVERVIEW

1033 Dr. Martin Luther King Jr. Street N., a premier single-tenant net lease investment located along one of St. Petersburg’s primary north-south commercial corridors. The property is offered as a sale-leaseback with a new 5-year Triple Net (NNN) lease commencing at closing, providing investors with a 7.50% Year 1 capitalization rate, 3% annual rental increases, market-rate renewal options, and personal guarantees from the operating principals. The property consists of approximately 10,500 square feet situated on 0.447 acres and serves as the corporate headquarters for a rapidly growing technology company operating a proprietary platform connecting consumers with approximately 4,000 licensed Medicare insurance and financial professionals nationwide. The platform facilitates more than 200,000 consumer appointments annually while the company expands into the senior care referral market. Originally acquired by the tenant because comparable lease opportunities were unavailable, the building provides exceptional long-term functionality while preserving future flexibility for investors. Constructed of concrete block with a clear-span structural system supported by steel I-beams, the property features tall ceilings, abundant perimeter windows, a shared lobby, kitchen/break area, men’s and women’s restrooms, and ample parking. Previously configured as four separate suites, the building can be readily repositioned for multiple tenants, including medical office, professional office, retail showroom, education, flex office, or other commercial uses. The existing layout and parking configuration support future subdivision should an investor elect to reposition the asset after the initial lease term. Located just minutes from Downtown St. Petersburg, Historic Uptown, Crescent Lake, Central Avenue, and Interstate 275, the property benefits from exceptional accessibility, strong demographics, and continued investment throughout the MLK North Corridor. The MLK Business District has become one of the city’s most active redevelopment corridors, characterized by medical office growth, boutique retail, restaurants, and mixed-use development. New monument signage provides outstanding visibility to both northbound and southbound traffic, further enhancing the property’s long-term value. Billions of dollars have been invested throughout Downtown St. Petersburg and surrounding districts, including major mixed-use developments, residential construction, infrastructure improvements, and redevelopment initiatives that continue to drive demand for well-located commercial assets. The city’s redevelopment pipeline and investment in business districts continue to support long-term property appreciation and leasing demand. This offering combines immediate passive cash flow with contractual rent growth and significant long-term real estate upside in one of Florida’s strongest commercial real estate markets.

FOR SALE DETAILS

PRICE

$3,650,000 USD

PRICE/SF

$347 USD /SF

CAP RATE

7.5%

% LEASED

-

TENANCY

Multiple

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

NNN Sale Lease-Back St. Pete

PROPERTY TYPE

Office

PROPERTY SUBTYPE

Medical

TOTAL BUILDING SIZE

-

STORIES

1

BUILDING CLASS

B

YEAR BUILT

1948

SPRINKLERS

-

PARKING SPACES

28

LAND DETAILS

LAND ACRES

0.45 AC

LAND SF

19,602 SF

ZONING

CCT-1

APN/PARCEL ID

18-31-17-57906-000-0050

ASK ABOUT THIS PROPERTY

Jake WollmanKW Commercial Tampa BayMore Info
239-272-7006

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Jake WollmanKW Commercial Tampa BayMore Info
239-272-7006

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.