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
