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
