Auburndale, Lake Alfred, Polk City, Florida - 2012 Commercial & Industrial Real Estate Sales Synopsisby 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.
Cliggitt Valuation, Inc.
Real Estate Analysts, Advisors, & AppraisersAuburndale, Lake Alfred, Polk City Real Estate Appraisals