Status   SOLD  
7601 Dr. Martin Luther King Jt Street N, St. Petersburg, FL, 33702 United States sold
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List Date4/15/2015
TypeOffice building
Square Footage23758
Lot Size1.2
Description: Attractive NNN, Professional Medical Office investment with a clear great return. This property is fully occupied, with long term leases (10 years plus) in place and it is located in the thriving Gateway business area of Pinellas County, Florida.

Property attributes:
* Four solid secure medical tenants with long term leases that have made significant capital improvements in their suites.
* Offered at 8.25% capitalization rate and 9.7% cash/cash return (there is assumable financing for qualified buyers).
* A total of 10,160 leasable square feet situated on 1.2 acres.
* Superb visibility with heavy traffic in the morning and evenings (professionals going to and from work in the Gateway area).
* There are 5 parking places per 1000 SF of office and an additional vacant parcel to allow for overflow parking.