1600 Dr Martin Luther King Jr St N
Saint Petersburg, FL 33704
Medical Office by St. Pete Hospitals · Office/Medical Property For Lease · 4,411 SF

1600 Dr. Martin Luther King Jr Street N presents a compelling covered land offering strategically positioned in one of St. Petersburg’s most dynamic growth corridors. The property sits prominently along a high-visibility route with more than 18,500 vehicles passing daily, giving future ownership a rare combination of in-place income and long-term redevelopment potential. Situated on a 0.63 acre fee simple parcel across from the sought-after Crescent Lake neighborhood, the location benefits from walkable residential density, strong household incomes, and proximity to St. Anthony’s Hospital, Johns Hopkins All Children’s Hospital, Orlando Health Bayfront Hospital, and Bayfront Baby Place. These established medical anchors drive consistent demand, enhance long-term land value, and reinforce the corridor’s position as a critical healthcare and services hub. The existing structure, renovated in 2018, was upgraded with approximately $375,000 in capital improvements and offers a second-generation medical environment including exam rooms with plumbing, a patient-friendly lobby, and a central administrative station. Its layout supports continued medical use or enables owners to plan for adaptive reuse while benefiting from the remaining base term of a corporately guaranteed NN lease with Women’s Care. With nearly two years of income in place, new ownership gains both stability and a clear runway to craft their ideal redevelopment vision. The adjacent unpaved grass lot currently utilized for overflow parking expands site optionality for future configurations or land planning. Surrounding the asset, downtown St. Petersburg continues to experience transformative investment across residential, mixed-use, hospitality, and cultural sectors, supported by strong demographics and a thriving local economy. The combination of location, visibility, tenancy, and underlying land value positions this asset as a rare opportunity to acquire a well-located site in the path of sustained development momentum.