About 602 S Martin Luther King Jr Avenue
This newly renovated investment property, fully leased with a government tenant, presents a unique and appealing opportunity for investors seeking stability and minimal maintenance. The ten-year lease with a government tenant ensures a dependable and consistent income stream, boasting a 7.5% CAP rate. Government tenants provide enhanced investment stability due to their reliable payment schedules and low default risk, making this an attractive option for discerning investors. The recent comprehensive renovations include new electrical systems, plumbing, roofing, air conditioning units, ductwork, interior framing, insulation, and fresh paint, ensuring minimal maintenance costs and a hassle-free ownership experience. Investors can effortlessly acquire a well-maintained and operational asset without needing extensive updates. Don't miss the chance to enhance your portfolio with this premium property. Contact the listing broker for detailed financial information, including rent rolls and lease specifics.
Features of 602 S Martin Luther King Jr Avenue
| MLS® # | U8223569 |
|---|---|
| Price | $1,069,000 |
| Sold Price | $1,050,000 |
| Sold Date | February 20th, 2025 |
| Square Footage | 4,400 |
| Acres | 0.39 |
| Year Built | 1964 |
| Type | Commercial Sale |
| Sub-Type | Office |
| Status | Sold |
Listing Details
| Office | MAVREALTY |
|---|
Listing Map
Neighborhood Information for 602 S Martin Luther King Jr Avenue
Stable Population, Low Residential Turnover, Coastal Area, Suburb of Tampa
Statistics
Number of Listings
Population Age
Home Listings Prices
Nearby Schools
| Great Schools | School Name | Distance | |
|---|---|---|---|
|
Washburn Academy Private - Kindergarten to 12Th Grade - Closest Elementry School |
0 Miles | |
|
|
Church Of Scientology Cadet School Private - 7Th Grade to 12Th Grade |
1 Miles | |
|
|
Clearwater Academy International Private - Preschool to 12Th Grade |
1 Miles | |
|
Belleair Elementary School Public - Preschool to 5Th Grade |
1 Miles | |
|
|
Saint Cecelia Interparochial Catholic - Preschool to 8Th Grade - Closest Middle School |
1 Miles | |
|
|
Clearwater Intermediate School Public - 5Th Grade to 9Th Grade |
1 Miles | |
|
|
Community Learning Center Academy Private - Kindergarten to 6Th Grade |
1 Miles |
School data provided by GreatSchools