Mulberry, Bartow, Lake Wales Data 2012
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.
Mike Cliggitt, MAI, MRICS, CCIM
813-405-1705 (Direct)
Cliggitt Valuation, Inc.
Real Estate Analysts, Advisors, & Appraisers
Mulberry, Bartow, Lake Wales Real Estate Appraisals
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