Tampa Bay Office Sales Report | February 2019
Historical report: February 2019. This report covers office sales included in the original Hillsborough and Pinellas County compilation. Pasco County records were not available when it was prepared. These figures describe historical transactions and do not represent current property values.
Tampa Bay Office Sales: February 2019
The February 2019 office sales log recorded 26 transactions totaling $18,647,337 across 81,385 square feet in Hillsborough and Pinellas counties.
The average sale price was approximately $717,205, while the average of the individual transaction prices per square foot was $219.37.
Sales Summary
| Metric | February 2019 |
|---|---|
| Recorded transactions | 26 |
| Total sales volume | $18,647,337 |
| Total building area | 81,385 SF |
| Average sale price | $717,205 |
| Average individual price/SF | $219.37 |
| Largest sale | $2,838,198 |
| Highest individual price/SF | $474.38 |
The average price per square foot is the arithmetic average of the individual transactions, rather than total sales volume divided by total building area.
February Sales Highlights
- Largest sale: 4133 Woodlands Parkway in Palm Harbor sold for $2,838,198. The property included 8,236 SF on 0.47 acres, with a recorded price of $344.61/SF.
- Largest building area: 8903 Regents Park, Unit 130, in Tampa sold for $1,289,000. The log lists 9,867 SF on 0.22 acres, or $130.64/SF.
- Highest price per square foot: 701 E. Washington Street in Tampa sold for $1,500,000. Its 3,162 SF produced a recorded price of $474.38/SF.
February 2019 Office Sales Log
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| Address | City | ZIP | Acres | Building SF | Sale Date | Sale Price | Price/SF |
|---|---|---|---|---|---|---|---|
| 1220 Oakfield Dr | Brandon | 33511 | 0.25 | 1,990 | 2/22/2019 | $653,890 | $328.59 |
| 213 N Parsons Ave | Brandon | 33510 | 0.44 | 1,581 | 2/25/2019 | $200,000 | $126.50 |
| 1239 Ewing Ave | Clearwater | 33756 | 0.23 | 1,525 | 2/22/2019 | $158,000 | $103.61 |
| 1180 Ponce De Leon Blvd #501 | Largo | 33756 | 0.20 | 2,669 | 2/22/2019 | $105,000 | $39.34 |
| 18922 N Dale Mabry Hwy | Lutz | 33558 | 0.11 | 4,500 | 2/27/2019 | $734,000 | $163.11 |
| 2138 Alt 19 #2-B | Palm Harbor | 34683 | 0.54 | 1,520 | 2/15/2019 | $210,000 | $138.16 |
| 4133 Woodlands Pkwy | Palm Harbor | 34685 | 0.47 | 8,236 | 2/18/2019 | $2,838,198 | $344.61 |
| 727 2nd St S | Safety Harbor | 34695 | 0.16 | 1,101 | 2/25/2019 | $260,000 | $236.15 |
| 770 2nd Ave S | St. Petersburg | 33701 | 0.19 | 7,565 | 2/1/2019 | $1,995,000 | $263.71 |
| 5450 1st Ave N | St. Petersburg | 33710 | 0.21 | 2,285 | 2/14/2019 | $275,000 | $120.35 |
| 4551 4th St N | St. Petersburg | 33703 | 0.52 | 4,425 | 2/18/2019 | $1,419,099 | $320.70 |
| 5746 1st Ave N | St. Petersburg | 33710 | 0.11 | 1,243 | 2/18/2019 | $139,000 | $111.83 |
| 2806 16th St N | St. Petersburg | 33704 | 0.14 | 1,599 | 2/20/2019 | $290,000 | $181.36 |
| 701 E Washington St | Tampa | 33602 | 0.24 | 3,162 | 2/1/2019 | $1,500,000 | $474.38 |
| 1031 W Busch Blvd | Tampa | 33612 | 0.22 | 721 | 2/4/2019 | $160,000 | $221.91 |
| 5033 W Laurel St 1 & 1A | Tampa | 33607 | 0.00 | 4,772 | 2/11/2019 | $800,000 | $167.64 |
| 6702 W Linebaugh Ave | Tampa | 33625 | 0.07 | 3,000 | 2/11/2019 | $653,000 | $217.67 |
| 3709 W Hamilton Ave 4 | Tampa | 33614 | 0.00 | 962 | 2/12/2019 | $140,000 | $145.53 |
| 101 N 12th St 102 | Tampa | 33602 | 0.00 | 1,495 | 2/15/2019 | $395,000 | $264.21 |
| 4231 N Habana Ave | Tampa | 33607 | 0.16 | 1,464 | 2/19/2019 | $425,000 | $290.30 |
| 4714 N Armenia Ave 103 | Tampa | 33603 | 0.00 | 2,234 | 2/22/2019 | $739,180 | $330.88 |
| 1209 Swann Ave | Tampa | 33606 | 0.35 | 3,069 | 2/22/2019 | $1,000,000 | $325.84 |
| 5107 N Armenia Ave | Tampa | 33603 | 0.10 | 4,198 | 2/22/2019 | $1,393,070 | $331.84 |
| 3714 W Horatio St | Tampa | 33609 | 0.23 | 1,988 | 2/28/2019 | $439,900 | $221.28 |
| 8903 Regents Park 130 | Tampa | 33647 | 0.22 | 9,867 | 2/28/2019 | $1,289,000 | $130.64 |
| 650 Tarpon Ave | Tarpon Springs | 34689 | 0.40 | 4,214 | 2/27/2019 | $436,000 | $103.46 |
| Total: 26 transactions | 81,385 | $18,647,337 | |||||
Putting the Results in Context
Recorded prices ranged from $39.34 to $474.38 per square foot. That spread shows why a countywide average needs context. Building size, location, condition, occupancy and transaction circumstances can produce substantially different results.
For an individual property, the most useful comparisons are sales with similar characteristics. This historical log provides background on the market at that time, rather than a current estimate of an owner’s property value.
Source: John Milsaps’s original February 2019 office sales compilation. Summary totals were recalculated from the 26 listed transactions. Individual property records have not been independently reverified. Addresses and acreage follow the original log; a zero acreage entry should not be interpreted as confirmation that a property has no associated land.
Discuss Your Office Property’s Value
Considering selling an office or medical office property in Hillsborough, Pinellas, or Pasco County? Learn more about selling commercial office space, or contact John Milsaps to discuss relevant sales and your property’s position in the market.