Real Estate - Tampa, FL - 2014-2015 Office Transaction Summary (15,000+)
by Michael Cliggitt, MAI, MRICS on 02/22/16
Tampa, FL – 2015 Office Transaction Summary (15,000 SF +)
We have analyzed sales office properties 15,000 SF and up from the Tampa market for 2015. 18 sales were reviewed and summarized. These sales were of office properties over 15,000 SF in size. Sales transactions slowly increased from quarter 1 (3 transactions) to quarter 2 (5 transactions) and then increased again in quarter 3 (9 transaction). There a major drop off in the 4th quarter with only 1 large office transaction. Total transaction volume for the year for this size segment of the office market totaled over $764 Million and the average price per square foot for all transactions for 2015 was $179.32/SF with an average building size of 236,750 SF. On a quarterly basis the price per square foot analysis is as follows:
1st Quarter 2015 – 3 Office Sales: Average Price per SF = $102.15
2nd Quarter 2015 – 5 Office Sales: Average Price per SF = $135.17
3rd Quarter 2015 – 9 Office Sales: Average Price per SF = $178.61
4th Quarter 2015 – 1 Office Sale: Average Price per SF = $248.71
Full Year 2015 – 20 Office Sales: Average Price per SF = $179.32
*Data and Charts from Xceligent
Tampa, FL – 2014 Office Transaction Summary (15,000 SF +)
We have analyzed office sales data from the Tampa market for 2014. Just under 40 sales were reviewed and summarized. These sales were of office properties over 15,000 SF in size. Transactions of offices in this size segment were well dispersed but also on an upward trend in volume for 2014. There were 7 transactions in Q1, 8 office sales in Q2, 10 office transactions in Q3, and 14 transactions in Q4. Total transaction volume for this office market segment totaled over $630 Million for 2014 and the average price per square foot for all transactions for 2014 was $117.98/SF with an average building size of 138,527 SF. On a quarterly basis the price per square foot analysis is as follows:
1st Quarter 2014 – 7 Office Sales: Average Price per SF = $73.18
2nd Quarter 2014 – 8 Office Sales: Average Price per SF = $94.34
3rd Quarter 2014 – 10 Office Sales: Average Price per SF = $109.90
4th Quarter 2014 – 14 Office Sales: Average Price per SF = $140.33
Full Year 2014 – 39 Office Sales: Average Price per SF = $117.98
*Data and Charts from Xceligent
Tampa Office Market (15,000 SF +) - Year over Year Changes (2014 to 2015)
Average Size Building Sold – 71% increase in the avg. building size sold from 138,527 SF to 236,750 SF
Price per Square Foot – 52% increase in average $/SF from 2014 to 2015
Number of Transactions – 54% decrease in the # of transactions from 2014 to 2015
Dollar Volume of Transactions – 20% increase in the total $ volume for transactions from 2014 to 2015
Thank you for your interest. For more information on the Tampa Office Market or to discuss your property valuation needs feel free to contact:
Mike Cliggitt, MAI, MRICS
813-405-1705 Direct Line
Real Estate - Tampa, FL - 2014-2015 Office Market Transaction Summary (5,000 SF to 15,000 SF)
by Michael Cliggitt, MAI, MRICS on 02/14/16
Tampa, FL – 2015 Office Transaction Summary (5,000 SF to 15,000 SF)
We have analyzed office sales data from the Tampa market for 2015. 20 sales were reviewed and summarized. These sales were of office properties in the 5,000 SF to 15,000 SF size range. Quarter 1 of 2015 was the strongest with regard to number of transactions. Quarter 2 had one less transaction but was the highest total dollar volume of sales for the year. Sales dropped off in the 3rd quarter to 3 sales and the 4th quarter posted 4 transactions within this size segment. Total transaction volume for the year for this size segment of the office market totaled over $26 Million and the average price per square foot for all transactions for 2015 was $143.15/SF with an average building size of 9,290 SF. On a quarterly basis the price per square foot analysis is as follows:
1st Quarter 2015 – 7 Office Sales: Average Price per SF = $137.49
2nd Quarter 2015 – 6 Office Sales: Average Price per SF = $151.92
3rd Quarter 2015 – 3 Office Sales: Average Price per SF = $131.48
4th Quarter 2015 – 4 Office Sales: Average Price per SF = $143.66
Full Year 2015 – 20 Office Sales: Average Price per SF = $143.15
*Data and Charts from Xceligent
Tampa, FL – 2014 Office Transaction Summary (5,000 SF to 15,000 SF)
We have analyzed office sales data from the Tampa market for 2014. Just under 30 sales were reviewed and summarized. These sales were of office properties in the 5,000 SF to 15,000 SF size range. Transactions of offices in this size segment were well dispersed throughout the year with 7 office sales in the 1st Quarter, 9 office sales in the 2nd Quarter, 7 office sales in the 3rd Quarter and a slight drop to 6 sales in the 4th Quarter. Total transaction volume for this office market segment totaled over $33 Million for 2014 and the average price per square foot for all transactions for 2014 was $134.45/SF with an average building size of 8,679 SF. On a quarterly basis the price per square foot analysis is as follows:
1st Quarter 2014 – 7 Office Sales: Average Price per SF = $108.68
2nd Quarter 2014 – 9 Office Sales: Average Price per SF = $145.86
3rd Quarter 2014 – 7 Office Sales: Average Price per SF = $122.82
4th Quarter 2014 – 6 Office Sales: Average Price per SF = $156.54
Full Year 2014 – 29 Office Sales: Average Price per SF = $134.45
Tampa Office Market (5,000 SF to 15,000 SF) - Year over Year Changes (2014 to 2015)
Average Size Building Sold – 7% increase in the average building size sold from 8,679 SF to 9,290 SF
Price per Square Foot – 6.5% increase in average $/SF from 2014 to 2015
Number of Transactions – 31% decrease in the # of transactions from 2014 to 2015
Dollar Volume of Transactions – 21% decrease in the total $ volume for transactions from 2014 to 2015
Thank you for your interest. For more information on the Tampa Office Market or to discuss your property valuation needs feel free to contact:
Mike Cliggitt, MAI, MRICS
813-405-1705 Direct Line
Tampa Office Real Estate Appraiser
Real Estate - Tampa, FL – 2014-2015 Small Office Transaction Summary (2,000 SF to 5,000 SF)
by Michael Cliggitt, MAI, MRICS on 02/04/16
Tampa, FL – 2015 Small Office Transaction Summary (2,000 SF to 5,000 SF)
We have analyzed office sales data from the Tampa market for 2015. Over 50 sales were reviewed and summarized. These were smaller office properties in the 2,000 SF to 5,000 SF size range. Well over half of the 50 sales occurred in the first two quarters of the year with a drop to less than 10 transactions per quarter for the 3rd and 4th quarters of 2015. Total transaction volume for this small office market segment totaled over $22 Million for 2015 and the average price per square foot for all transactions for 2015 was $149.39/SF with an average building size of 2,968 SF. On a quarterly basis the price per square foot analysis is as follows:
1st Quarter 2015 – 23 Office Sales: Average Price per SF = $137.18
2nd Quarter 2015 – 16 Office Sales: Average Price per SF = $193.15
3rd Quarter 2015 – 7 Office Sales: Average Price per SF = $118.79
4th Quarter 2015 – 6 Office Sales: Average Price per SF = $115.60
Full Year 2015 – 52 Office Sales: Average Price per SF = $149.39
*Data and charts from Xceligent
Tampa, FL – 2014 Small Office Transaction Summary (2,000 SF to 5,000 SF)
We have analyzed office sales data from the Tampa market for 2014. Just under 60 sales were reviewed and summarized. These were smaller office properties in the 2,000 SF to 5,000 SF size range. The first quarter of 2014 was relatively quiet with just six transactions. But transaction volume picked up substantially in the 2nd quarter with 19 office sales and stayed relatively strong through the remainder of the year with 18 transactions in the 3rd quarter and 16 in the 4th quarter of 2014. Total transaction volume for this small office market segment totaled over $24 Million for 2014 and the average price per square foot for all transactions for 2014 was $124.30/SF with an average building size of 3,272 SF. On a quarterly basis the price per square foot analysis is as follows:
1st Quarter 2014 – 6 Office Sales: Average Price per SF = $79.66
2nd Quarter 2014 – 19 Office Sales: Average Price per SF = $128.52
3rd Quarter 2014 – 18 Office Sales: Average Price per SF = $128.22
4th Quarter 2014 – 16 Office Sales: Average Price per SF = $133.38
Full Year 2014 – 59 Office Sales: Average Price per SF = $124.30
*Data and charts from Xceligent
Tampa Office Market (2,000 SF to 5,000 SF) - Year over Year Changes (2014 to 2015)
Average Size Building Sold – 9% decrease in the average building size sold from 3,272 SF to 2,968 SF
Price per Square Foot – 20% increase in average $/SF from 2014 to 2015
Number of Transactions – 12% decrease in the # of transactions from 2014 to 2015
Dollar Volume of Transactions – 6% decrease in the total $ volume for transactions from 2014 to 2015
Appraising Office Property and Commercial Real Estate - Tampa, FL
Thank you for your interest. For more information on the Tampa Office Market or to discuss your property valuation needs feel free to contact:
Mike Cliggitt, MAI, MRICS
813-405-1705 Direct Line
2014-2015 Tampa, Florida - Office Transactions (up to 2,000 SF)
by Michael Cliggitt, MAI, MRICS on 01/25/16
Tampa, FL – 2015 Small Office Transaction Summary (up to 2,000 SF)
We have analyzed office sales data from the Tampa market for 2015. Over 20 sales were reviewed and summarized. These were smaller office properties less than 2,000 SF in size. The sales occurred in relatively equal distribution over the first three quarters of the year with no office sales in this size segment occurring in the 4th Quarter of 2015. Total transaction volume for this small office market segment totaled over $5 Million for 2015 and the average price per square foot for all transactions for 2015 was $172.02/SF with an average building size of 1,429 SF. On a quarterly basis the price per square foot analysis is as follows:
1st Quarter 2015 – 7 Office Sales: Average Price per SF = $200.26
2nd Quarter 2015 – 8 Office Sales: Average Price per SF = $164.84
3rd Quarter 2015 – 7 Office Sales: Average Price per SF = $154.19
4th Quarter 2015 – 0 Office Sales
Full Year 2015 – 22 Office Sales: Average Price per SF = $172.02
*Data and charts from Xceligent
Tampa, FL – 2014 Small Office Transaction Summary (up to 2,000 SF)
We have analyzed office sales data from the Tampa market for 2014. Over 20 sales were reviewed and summarized. These were smaller office properties less than 2,000 SF in size. The first quarter of 2014 was relatively quiet with just three transactions. But transaction volume picked up progressively throughout the year with 6 office sales in the 2nd quarter, 7 in the 3rd quarter, and 8 in the 4th quarter. Total transaction volume for this small office market segment totaled just over $4 Million for 2014 and the average price per square foot for all transactions in the size segment for 2014 was $117.39/SF with an average building size of 1,430 SF. On a quarterly basis the price per square foot analysis is as follows:
1st Quarter 2014 – 3 Office Sales: Average Price per SF = $142.56
2nd Quarter 2014 – 6 Office Sales: Average Price per SF = $99.01
3rd Quarter 2014 – 7 Office Sales: Average Price per SF = $126.51
4th Quarter 2014 – 8 Office Sales: Average Price per SF = $116.46
Full Year 2014 – 24 Office Sales: Average Price per SF = $124.30
*Data and charts from Xceligent
Tampa Office Market (up to 2,000 SF) - Year over Year Changes (2014 to 2015)
Average Size Building Sold – Stayed consistent year over year
Price per Square Foot – 38% increase in average $/SF from 2014 to 2015
Number of Transactions – 8% decrease in the # of transactions from 2014 to 2015
Dollar Volume of Transactions – 32% increase in the total $ volume for transactions from 2014 to 2015
Thank you for your interest. For more information on the Tampa Office Market or to discuss your property valuation needs feel free to contact:
Mike Cliggitt, MAI, MRICS
813-405-1705 Direct Line
Tampa Office Real Estate Appraiser
Tampa Downtown Development
by Michael Cliggitt, MAI, MRICS on 01/16/16
Vinik’s Downtown Tampa Development
40 acres of Downtown Tampa owned and/or controlled by Tampa Lighting owner Jeff Vinik is planned for a massive redevelopment that would become the City’s new entertainment district. The plans include a downtown medical school, corporate headquarters, condos, hotels, meeting space, numerous shops and restaurants. In all the development was unveiled in 2014 has a total planned cost of approximately $1 Billion and a total of 3 million square feet of new space once completed. Projected space plans include over a million square feet of office space, 600,000+ SF of residential space, 575,000 SF of hotel/meeting space, 330,000 SF medical Campus, 250,000 SF of retails, 50,000 SF energy/cooling plant, along with 5,000 new parking spaces.
http://tampawaterfront2020.com
Information Source: Tampa Bay Times - Jamal Thalji
Plan Grows for Downtown Tampa Redevelopment District
Vinik’s downtown development plan has grown to a projected $2 Billion investment planned for two phases. After working with renowned planners (Jeff Speck and David Dixon) over the last year the project which was originally projected to cost $1 Billion has grown in size and total investment and economic impact for the Downtown Tampa market. This redevelopment will be the first entire neighborhood in the world to be WELL Certified. (WELL Certification is based on quality standards for air, water, nourishment, light, fitness, comfort, and mind). Phase 1 of the project includes 1,000 residential units, an office building, 200,000 square feet of retail / restaurant / entertainment space. Additionally USF Morsani College of Medicine will be part of Phase 1 as well as the necessary infrastructure work and community space planned for the redevelopment.
Information Source: Tampa Bay Business Journal – Ashley Gurbal Kritzer
For more information regarding the Tampa Office Market or for analysis and valuation services contact:
Mike Cliggitt, MAI, MRICS
813-405-1705 Direct Line
Office Appraiser Tampa Florida
Plant City, Florida - 2012 Commercial & Industrial Real Estate Transaction Synopsis
by Michael Cliggitt, MAI, MRICS on 12/11/13
2012
Transaction Information and Analysis
(Data
Extracted from MLS Only – Does not include additional transaction information
from Non-MLS Listings/Sales)
18
Commercial & Industrial Property Sales in the Plant City Market
·
12
Property Sales labeled as No Special Sale Conditions
o
66.66%
No Special Sale Condition Property Sales
·
6
Property Sales labeled as REO/Bank-Owned Transactions
o
33.33%
REO/Bank-Owned Property Sales
·
0
Property Sales labeled as Short-Sale Transactions
o
0%
Short Sale Property Sales
Property
Pricing Analysis
·
Sale
Prices Ranging from a low of $70,000 to a high of $1,000,000
o
Sale
Price Average was $251,417
o
Sale
Price Median was $190,000
o
There
were more property sales in the lower tier price segments or more sales that
were less than the average sale price indicated above.
o
More
Specifically 12 of the 18 Plant City Commercial & Industrial Property Sales (67%) were below
the average price of $251,417.
Sale
Price/SF Analysis
·
Sale
Price/SF Ranging from a low of $15.07/SF to a high of $182.38/SF
o
Sale
Price/SF Average was $65.42
o
Sale
Price/SF Median was $51.91
o
There
were slightly more property sales in the lower tier price/SF segment meaning
there more sales with a Price/SF less than the average Price/SF.
o
More
Specifically 10 of the 18 Plant City Property Sales (62%) were below the
average price of $65.42.
Sale
Price to List Price Analysis
·
Sale
Price Compared Lowest Listing Price Comparison revealed a range:
o
The
Low was 64.24% Sale Price to Listing Price
o
The
High was 100% Sale Price to Listing Price (1 Sold for 100% of Listing)
o
Average
Sale Price to List Price was 80.41%
o
Median
Sale Price to List Price was 79.69%
o
Most
properties are selling near 80% range of their final listing price or to put it
another way a 20% discount from the final/last listing price for a property is
being realized by sellers in this market.
Note – The
above sales included a range of property types such as: Warehouse, Office-Warehouse,
Office, Medical Office, Motel/Hotel, Vehicle Related, Day Care, Church, Retail,
General Commercial, etc.
The above
information helps display the state of the commercial and industrial sales
market in Plant City, as represented by the sold properties that were listed in
MLS. Two-thirds of these sales were
typical transactions, but approximately 1/3 of the sales were bank-owned
inventory. Bank-owned and/or distressed type sales continued to be part of the
local commercial and industrial real estate sales market but made up less the ½
the sales within the MLS data for Plant City.
For more
detailed information regarding the Plant City market or to have us perform an
analysis or appraisal of your property please feel free to contact us.
Mike
Cliggitt, MAI, MRICS
863-661-1165
(Direct)
mcliggitt.mai@verizon.net
Cliggitt
Valuation, Inc.
Real Estate
Analysts, Advisors, & Appraisers
Plant City Commercial,
Industrial, and Investment Real Estate Appraisals
Auburndale, Lake Alfred, Polk City, Florida - 2012 Commercial & Industrial Real Estate Sales Synopsis
by Michael Cliggitt, MAI, MRICS on 11/12/13
Auburndale,
Lake Alfred, Polk City Commercial & Industrial Real Estate Analysis
2012
Transaction Information and Analysis
(Data
Extracted from MLS Only – Does not include additional transaction information
from Non-MLS Listings/Sales)
Only 4
Commercial Property Sales in the Auburndale, Lake Alfred, Polk City Market
·
4
Commercial Property Sales labeled as No Special Sale Conditions
o
100%
No Special Sale Condition Property Sales
·
0
Commercial Property Sales labeled as REO/Bank-Owned Transactions
o
0%
REO/Bank-Owned Property Sales
·
0
Commercial Property Sales labeled as Short-Sale Transactions
o
0%
Short Sale Property Sales
Property
Pricing Analysis
·
Sale
Prices Ranging from a low of $46,000 to a high of $514,500
o
Sale
Price Average was $212,625
o
Sale
Price Median was $145,000
o
Average
and median comparison indicates that the sales/price level in the lower tier
segments were more drastic than the upper tier price segments.
o
More
Specifically the # of sales were an even split between the below and above average
price. 2 of the 4 Auburndale, Lake Alfred, Polk City Commercial Property Sales
(50%) were below the average price of $212,625.
Sale
Price/SF Analysis
·
Sale
Price/SF Ranging from a low of $38.13/SF to a high of $80.71/SF
o
Sale
Price/SF Average was $58.93
o
Sale
Price/SF Median was $58.45
o
Average
and median comparison indicates that property sales on a per square foot basis
were generally similar with 2 above and 2 below the average.
Sale
Price to List Price Analysis
·
Sale
Price Compared Lowest Listing Price Comparison revealed a range:
o
The
Low was 74% Sale Price to Listing Price
o
The
High was 92% Sale Price to Listing Price (0 Sold for 100% of Listing)
o
Average
Sale Price to List Price was 84%
o
Median
Sale Price to List Price was 85%
o
Most
properties are selling near 85% range of their final listing price or to put it
another way a 15% discount from the final/last listing price for a property is
being realized by sellers in this market.
Note – The
above sales included a range of property types such as: Automotive-Vehicle
Related, Retail, General Commercial, etc.
The above
information helps display the state of the commercial and industrial sales
market in Auburndale, Lake Alfred, Polk City, as represented by the sold
properties that were listed in MLS. Most
notably was the limited amount of sales activity within these three market
areas in 2012. We also note that there were no sold properties that were bank
owned or labeled as short-sales. Bank-owned and/or distressed type sales continue
to be part of the local commercial and industrial real estate sales market but there
were no transactions in 2012 within the MLS data for Auburndale, Lake Alfred,
Polk City.
For more
detailed information regarding the Auburndale, Lake Alfred, Polk City market or
to have us perform an analysis or appraisal of your property please feel free
to contact us.
863-661-1165
(Direct)
mcliggitt.mai@verizon.net
Cliggitt
Valuation, Inc.
Real Estate
Analysts, Advisors, & Appraisers
Mulberry, Bartow, Lake Wales, Florida - 2012 Commercial & Industrial Real Estate Sales Synopsis
by Michael Cliggitt, MAI, MRICS on 11/05/13
Mulberry,
Bartow, Lake Wales: Commercial & Industrial Real
Estate Transaction Summary
2012
Transaction Information and Analysis
(Data
Extracted from MLS Only – Does not include additional transaction information
from Non-MLS Listings/Sales)
12
Commercial Property Sales in the Mulberry, Bartow, Lake Wales Market
·
7
Commercial Property Sales labeled as No Special Sale Conditions
o
58%
No Special Sale Condition Property Sales
·
5
Commercial Property Sales labeled as REO/Bank-Owned Transactions
o
42%
REO/Bank-Owned Property Sales
Property
Pricing Analysis
·
Sale
Prices Ranging from a low of $49,000 to a high of $630,000
o
Sale
Price Average was $190,179
o
Sale
Price Median was $128,250
o
Average
and median comparison indicates that there were more property sales in the
lower tier price segments or more sales that were less than the average sale
price indicated above.
o
More
Specifically 9 of the 12 Mulberry, Bartow, Lake Wales Commercial Property Sales
(75%) were below the average price of $190,000.
Sale
Price/SF Analysis
·
Sale
Price/SF Ranging from a low of $11.61/SF to a high of $105.61/SF
o
Sale
Price/SF Average was $47.65
o
Sale
Price/SF Median was $41.69
o
Average
and median comparison indicates that there were more property sales in the
lower tier price/SF segment or more sales with a Price/SF less than the average
Price/SF.
o
More
Specifically 5 of the 12 Mulberry, Bartow, Lake Wales Commercial Property Sales
(42%) were below the average price of $47.65/SF.
Sale
Price to List Price Analysis
·
Sale
Price Compared Lowest Listing Price Comparison revealed a range:
o
The
Low was 73% Sale Price to Listing Price
o
The
High was 149% Sale Price to Listing Price (2 Sold for 100% of Listing and 1
Sold 49% Over its Listing Price)
o
Average
Sale Price to List Price was 94%
o
Median
Sale Price to List Price was 92%
o
Most
properties are selling near 93% range of their final listing price or to put it
another way only a 7% discount from the final/last listing price for a property
is being realized by sellers in this market.
Note – The
above sales included a range of property types such as: Office, Grocery,
Retail, General Commercial, Industrial, Mobile Home Park, Recreational, etc.
The above
information helps display the state of the commercial and industrial sales
market in along the Polk County State Road 60 corridor that includes the Mulberry,
Bartow, Lake Wales market area, as represented by the sold properties that were
listed in MLS. Almost 60% percent of
these sales were typical transactions, but over 40% of the sales were
bank-owned inventory transactions. Bank-owned and/or distressed type sales continued
to be part of the local commercial and industrial real estate sales market but
made up less the ½ the sales within the MLS data for Mulberry, Bartow, Lake
Wales.
For more
detailed information regarding the Mulberry, Bartow, Lake Wales market or to
have us perform an analysis or appraisal of your property please feel free to
contact us.
863-661-1165
(Direct)
mcliggitt.mai@verizon.net
Cliggitt
Valuation, Inc.
Real Estate
Analysts, Advisors, & Appraisers
Mulberry, Bartow, Lake Wales Real Estate Appraisals
Lakeland, FL - 2012 Commercial & Industrial Real Estate Analysis
by Michael Cliggitt, MAI, MRICS on 10/29/13
Lakeland
Commercial & Industrial Real Estate Analysis
2012
Transaction Information and Analysis
(Data
Extracted from MLS Only – Does not include additional transaction information
from Non-MLS Listings/Sales)
25
Commercial Property Sales in the Lakeland Market
·
16
Commercial Property Sales labeled as No Special Sale Conditions
o
64%
No Special Sale Condition Property Sales
·
9
Commercial Property Sales labeled as REO/Bank-Owned Transactions
o
36%
REO/Bank-Owned Property Sales
Property
Pricing Analysis
·
Sale
Prices Ranging from a low of $15,000 to a high of $1,200,000
o
Sale
Price Average was $211,420
o
Sale
Price Median was $123,500
o
Average
and median comparison indicates that there were more property sales in the
lower tier price segments or more sales that were less than the average sale
price indicated above.
o
More
Specifically 17 of the 25 Lakeland Commercial Property Sales (68%) were below
the average price of $211,420.
Sale
Price/SF Analysis
·
Sale
Price/SF Ranging from a low of $12.84/SF to a high of $127.78/SF
o
Sale
Price/SF Average was $46.85
o
Sale
Price/SF Median was $37.37
o
Average
and median comparison indicates that there were more property sales in the
lower tier price/SF segment or more sales with a Price/SF less than the average
Price/SF.
o
More
Specifically 13 of the 25 Lakeland Commercial Property Sales (52%) were below
the average price of $46.85.
Sale
Price to List Price Analysis
·
Sale
Price Compared Lowest Listing Price Comparison revealed a range:
o
The
Low was 26% Sale Price to Listing Price
o
The
High was 100% Sale Price to Listing Price (1 Sold for 100% of Listing)
o
Average
Sale Price to List Price was 70.86%
o
Median
Sale Price to List Price was 72.79%
o
Most
properties are selling near 70% to 75% range of their final listing price or to
put it another way a 25% to 30% discount from the final/last listing price for
a property is being realized by sellers in this market.
Note – The
above sales included a range of property types such as: Warehouse, Flex, Office-Warehouse,
Distribution, Special Purpose, Office, Vehicle Related, General Commercial, Mobile
Home & Apartments, etc.
The above
information helps display the state of the commercial and industrial sales
market in Lakeland, as represented by the sold properties that were listed in
MLS. Over 60% percent of these sales
were typical transactions, but a little over 1/3 of the sales were bank-owned
inventory transaction. Bank-owned and/or distressed type sales continued to be part
of the local commercial and industrial real estate sales market but made up just
over a 1/3 the sales within the MLS data for Lakeland.
For more
detailed information regarding the Lakeland real estate market or to have us
perform an analysis or appraisal of your property please feel free to contact
us.
863-661-1165
(Direct)
mcliggitt.mai@verizon.net
Cliggitt
Valuation, Inc.
Real Estate
Analysts, Advisors, & Appraisers
Winter Haven, FL - 2012 Commercial & Industrial Real Estate Analysis
by Michael Cliggitt, MAI, MRICS on 10/22/13
Winter
Haven Commercial & Industrial Real Estate Analysis
2012 Transaction
Information and Analysis
(Data
Extracted from MLS Only – Does not include additional transaction information from
Non-MLS Listings/Sales)
21
Commercial Property Sales in the Winter Haven Market
·
12
Commercial Property Sales labeled as No Special Sale Conditions
o
57%
No Special Sale Condition Property Sales
·
7
Commercial Property Sales labeled as REO/Bank-Owned Transactions
o
33%
REO/Bank-Owned Property Sales
·
2
Commercial Property Sales labeled as Short-Sale Transactions
o
10%
Short Sale Property Sales
Property
Pricing Analysis
·
Sale
Prices Ranging from a low of $33,700 to a high of $901,000
o
Sale
Price Average was $250,238
o
Sale
Price Median was $125,000
o
Average
and median comparison indicates that there were more property sales in the
lower tier price segments or more sales that were less than the average sale
price indicated above.
o
More
Specifically 16 of the 21 Winter Haven Commercial Property Sales (76%) were
below the average price of $250,000.
Sale
Price/SF Analysis
·
Sale
Price/SF Ranging from a low of $11.82/SF to a high of $164.81/SF
o
Sale
Price/SF Average was $49.68
o
Sale
Price/SF Median was $33.53
o
Average
and median comparison indicates that there were more property sales in the
lower tier price/SF segment or more sales with a Price/SF less than the average
Price/SF.
o
More
Specifically 13 of the 21 Winter Haven Commercial Property Sales (62%) were
below the average price of $250,000.
Sale
Price to List Price Analysis
·
Sale
Price Compared Lowest Listing Price Comparison revealed a range:
o
The
Low was 61% Sale Price to Listing Price
o
The
High was 100% Sale Price to Listing Price (2 Sold for 100% of Listing)
o
Average
Sale Price to List Price was 83.5%
o
Median
Sale Price to List Price was 84.75%
o
Most
properties are selling near 85% range of their final listing price or to put it
another way a 15% discount from the final/last listing price for a property is
being realized by sellers in this market.
Note – The above
sales included a range of property types such as: Warehouse, Office-Warehouse,
Office, Medical Office, Vehicle Related, Retail, General Commercial, etc.
The above information helps display the state of
the commercial and industrial sales market in Winter Haven, as represented by
the sold properties that were listed in MLS.
Almost 60% percent of these sales were typical transactions, but
approximately 1/3 of the sales were bank-owned inventory with 10% listed as
short-sale transactions. Bank-owned and/or distressed type sales continue to be part of
the local commercial and industrial real estate sales market but made up less
the ½ the sales within the MLS data for Winter Haven.
For more
detailed information regarding the Winter Haven real estate market or to have us perform an
analysis or appraisal of your property please feel free to contact us.
Mike
Cliggitt, MAI, MRICS
863-661-1165
(Direct)
Cliggitt
Valuation, Inc.
Real Estate
Analysts, Advisors, & Appraisers
Winter Haven Real Estate Appraisals
