Martin Luther King Professional Center

Office for Sale
Sale Pending
Catylist Listing ID: 30719955
Property Subtypes: Business Park, Executive Suites, Medical, Office Building
Status: Pending
Building Status: Proposed
Building Size (RSF): 11,840 SF
Gross Building Area: 12,036 SF
Sale Price: $1,310,000
Unit Price: $110.64 PSF
Property Use Type: Investment
Class of Space: Class C
Sale Terms: Undisclosed
Cap Rate: Undisclosed
Last Updated: 4/19/2021

Overview / Comments

Foresight Property Services, LLC presents the Martin Luther King Professional Center, a strategically located medical office building in the heart of the Tampa Bay area. This professional office building is situated on W. Dr. Martin Luther King Jr. Blvd in the heart of it all, and just E. of the River and one mile W. of I-275. This property sits in the heart of 4 highly desirable areas; St. Joseph's Medical & Legal District, S. Seminole Heights, N. Riverside Heights, and Tampa Heights (home to Stetson Law School and relocation area to Orlando’s 2nd District Court of Appeals! and the new Hillsborough County Bar Association). The property boasts a close proximity to St. Joseph’s Hospital in an up and coming area of Tampa, Riverside Heights.

The building has been well maintained since its purchase in 2001, and has been institutionally managed since then. The property has a nice mix of tenants mostly medical related. This property also offers ample parking with enough spaces to accommodate all needs. Units are also allocated with nice signage on MLK Blvd.

This property consists of two stand alone buildings with one building containing three professional suites of 250 SF and a unit of 1,338 SF on the first floor, and the top floor with one unit consisting of 2,118 square feet. The adjacent building consists of one 850 SF unit, five 900 SF units, and one 2,300 SF unit on the second floor.

With currently in-place cash flows and every unit occupied, the property is primed for an end-user occupant looking for an investment opportunity into real estate with long-term value. Considering the proposed purchase price is well below replacement cost, the Martin Luther King Professional Center creates a unique opportunity for a plethora of investment strategies.

We invite you to take advantage of this highly visible arterial thoroughfare that flows from Dale Mabry and St. Joes Hospital Eastward past this site merely 10 or so blocks to I-275 and I-4 and near downtown.

Additional Details

Nearest MSA: Tampa-St. Petersburg-Clearwater
County: Hillsborough
Tax ID/APN: 1829114HA000001000090A
Property Visibility: Excellent
Highway Access: Close proximity to I-275 and I-4
Airports: SRQ, PIE, TPA
Total Number of Buildings: 2
Number of Stories: 2
Year Built: 1975
Parking Description: Ample Parking. Front lot and back lot
Total Parking Spaces: 40
Water Service: Municipal
Sewer Type: Municipal

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 16,057 152,850 314,360
Median Age: 36.77 35.89 36.05
Households: 6,601 61,509 126,323

Contact

Photograph of Listing Agent

Trifon Houvardas

Foresight Property Services
CE-FL Member
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