1600 Dr Martin Luther King Jr St N - Medical FOR SALE


Saint Petersburg, FL 33704- Uptown St Petersburg
$3,150,000 USD
805-666-8378
1600 Dr Martin Luther King Jr St N, Saint Petersburg, FL for Sale
$3,150,000 USD
Medical - FOR SALE
1/5
null | 7.49% Cap Rate

Oct '26


1600 Dr Martin Luther King Jr St N
Saint Petersburg, FL 33704
Uptown St Petersburg


HIGHLIGHTS

  • + The building is well positioned for medical use with guest lobby that has separate check-in/check-out access, central admin station, and exam rooms.
  • + The site is a total of 0.63 acres, which includes an adjacent unpaved grass lot that provides additional land potential for reuse.
  • + The subject property is located less than 1 mile from St. Anthony’s Hospital, and 2 miles from Johns Hopkins All Children’s Hospital.
  • + 18,500 cars pass by the property each day with a full-access curb cut, allowing ease of access to the property.
  • + The property is located in a densely populated area with more than 119,000 residents within 3 miles of the property.
  • + The average household income within 3 miles is $112,393.

OVERVIEW

CBRE is pleased to present for sale a covered land play currently leased by a women’s medical care office in one of the hottest markets in Florida - St. Petersburg, Pinellas County, within the Tampa Bay MSA, and after being acquired by a larger group will be relocating a different building to consolidate offices, which presents an opportunity for second generation medical space or redevelopment. The existing lease has about two years remaining on the base term providing ample time for planning a redevelopment on the 0.63 acre frontage on Dr. Martin Luther King, Jr. Street N. Additionally, the building can be delivered for occupancy as early as May, 2025 through a sub-lease or in negotiations with a user who intends to occupy the building themselves. The 4,411 SF asset received an infusion of $375,000 for capital improvements in 2018, and is located outside of a flood zone. More than 18,500 cars pass this location each day (ADT), providing excellent exposure and easy access via a full-access curb cut, allowing left-in, left-out access at the main road.

FOR SALE DETAILS

PRICE

$3,150,000 USD

PRICE/SF

$685 USD /SF

CAP RATE

7.49%

% LEASED

-

TENANCY

Single

SALE TYPE

Investment Or Owner User

BUILDING DETAILS

PROPERTY NAME

Covered Land Play - Downtown St Pete Suburb

PROPERTY TYPE

Office

PROPERTY SUBTYPE

Medical

TOTAL BUILDING SIZE

-

STORIES

1

BUILDING CLASS

A

YEAR BUILT

1990

SPRINKLERS

-

PARKING SPACES

45

LAND DETAILS

LAND ACRES

0.63 AC

LAND SF

27,443 SF

ZONING

CRT-1, St Petersburg

APN/PARCEL ID

13-31-16-39672-000-0030

ASK ABOUT THIS PROPERTY

James GarnerCBREMore Info
805-666-8378

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James GarnerCBREMore Info
805-666-8378

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