Tampa Office Sales Comps & Report | NOV-DEC 2020
Historical report: November–December 2020. This report focuses on December 2020 office sales in Hillsborough County, with November comparisons. These figures do not represent current market conditions or property values.
Hillsborough County Office Sales: December 2020
Office property sales totaled $26,606,600 across 19 transactions in December 2020, including 15 professional office properties and four medical office properties.
Compared with December 2019, reported sales volume increased 14.3%, despite three fewer transactions. The reported average sale price per square foot increased slightly, from $185 to $186, or approximately 0.5%.
The original commentary described these results as encouraging signs during the pandemic recovery. That assessment reflected the market outlook at the time.
Year-over-Year Sales Comparison
| Metric | December 2019 | December 2020 |
|---|---|---|
| Transactions | 22 | 19 |
| Total Sales Volume | $23,285,400 | $26,606,600 |
| Reported Average Sale Price per SF | $185 | $186 |
| Highest Sale Price | $7,691,200 | $9,538,400 |
Largest Reported Office Sale
The largest transaction was 610 E. Zack Street in Tampa, which sold for $9,538,400.
- Year built: 1976
- Reported building area: 233,697 square feet
- Land area: 1.01 acres
- Reported sale price per square foot: $41
This transaction accounted for approximately 36% of December’s total reported sales volume.
December 2020 Office Sales Transactions
The table below reproduces the sales listed in the original report. Property categories and rounded prices per square foot follow that report.
On smaller screens, scroll the table sideways to see all columns.
| Property Type | Address | City | Building SF | Sale Price | $/SF |
|---|---|---|---|---|---|
| Medical Office | 2007 W. Reynolds St. | Plant City | 1,824 | $250,000 | $137 |
| Professional Office | 2915 N. Boulevard St. | Tampa | 2,258 | $400,000 | $177 |
| Professional Office | 6015 N. 56th St. | Tampa | 8,748 | $950,000 | $109 |
| Medical Office | 2808 W. Dr. Martin Luther King Jr. Blvd. | Tampa | 9,895 | $5,400,000 | $546 |
| Professional Office | 217 N. Lois Ave. | Tampa | 2,370 | $699,000 | $295 |
| Professional Office | 810 S. Sterling Ave. | Tampa | 3,290 | $1,020,000 | $310 |
| Commercial Condo | 417 Apollo Beach Blvd., Unit O | Apollo Beach | 1,890 | $450,000 | $238 |
| Professional Office | 1444 Bloomingdale Ave. | Valrico | 3,142 | $575,000 | $183 |
| Medical Office | 13117 Elk Mountain Dr. | Riverview | 1,800 | $369,000 | $205 |
| Professional Office | 1004 W. Linebaugh Ave. | Tampa | 2,279 | $350,000 | $154 |
| Professional Office | 610 E. Zack St. | Tampa | 233,697 | $9,538,400 | $41 |
| Medical Office | 901 N. Parsons Ave. | Brandon | 4,125 | $500,000 | $121 |
| Commercial Condo | 330 W. Bearss Ave., Unit 6 | Tampa | 2,112 | $280,000 | $133 |
| Professional Office | 13919 Carrollwood Village Run | Tampa | 5,610 | $847,000 | $151 |
| Commercial Condo | 7401 Temple Terrace Hwy., Unit A | Temple Terrace | 648 | $75,200 | $116 |
| Professional Office | 607 W. Horatio St. | Tampa | 4,224 | $1,275,000 | $302 |
| Professional Office | 901 W. Dr. Martin Luther King Jr. Blvd. | Plant City | 4,920 | $430,000 | $87 |
| Professional Office | 3812 Coconut Palm Dr. | Tampa | 27,122 | $2,800,000 | $103 |
| Professional Office | 6278 N. Himes Ave. | Tampa | 3,398 | $3,398,000 | $132 |
| Total Reported Sales Volume | $26,606,600 | ||||
November 2020 Sales Comparison
The original report recorded 16 transactions totaling $15,142,500 in November 2020, including 13 professional office properties and three medical office properties.
November’s reported average sale price per square foot increased from $188 in 2019 to $216 in 2020, or approximately 15%, even though total transaction volume declined.
| Metric | November 2019 | November 2020 |
|---|---|---|
| Transactions | 21 | 16 |
| Total Sales Volume | $27,861,800 | $15,142,500 |
| Reported Average Sale Price per SF | $188 | $216 |
| Highest Sale Price | $10,700,000 | $4,593,000 |
Using Sales Comps to Evaluate Your Property
December’s results show that higher total dollar volume can occur alongside fewer transactions and little change in average price per square foot.
The largest sale represented approximately 36% of the month’s reported volume. Differences in property size, location, condition, occupancy, and lease terms also affect how useful individual transactions are as comparisons.
A countywide average provides context but should not be applied directly to an individual office or medical office property.
Source: Hillsborough County Property Appraiser records, compiled by John Milsaps for the original November–December 2020 report. Property classifications, figures, and rounded prices per square foot follow that report. The largest-sale narrative has been corrected to match its summary and transaction tables. Historical data has not been updated to reflect subsequent transactions or record changes.
Discuss Your Office Property’s Value
Considering selling an office or medical office property in Hillsborough, Pinellas, or Pasco County? Contact John Milsaps to discuss relevant sales and your property’s position in the market.