• Year Built: 1987
7601 Dr. Martin Luther King Jr. Street North is an office property for lease in Saint Petersburg, FL.
100% Occupied Very Stable NNN Investment Opportunity FOR SALE! Highly visible location just south of Gateway Mall on Dr. MLK Jr. Street North with nearly 20,000 AADT. Situated on 1.21+/- Acres including adjacent additional parcel, the improvements consist of 10,160 RSF. Built in 1987. Parking Ratio 5:1,000. The building is currently occupied by four long term medical use tenants with recently renewed leases. Very well maintained; list of recent repairs include: New Roof and Pylon Signage in 2011, New Gutters and Security Lighting in 2012 & 2013, Updated Staircase in rear of building completed in 2013. Currently asking $2,150,000 which will yield a 3- 10 year Cap Rate of (8.1% to 9.4%) if an investor wants to buy and hold. Call the Coach Cook Team to receive an Offering Memorandum at 813-319-6461.
Create a Property List
Please describe your commercial real estate requirements. We'll create a list of matching properties that meet your criteria.
- Ed Killmer, agent and Rofo Pro