Tampa Bay Office Sales Report | September 2018
Historical report: September 2018. This sales log covers Hillsborough, Pinellas, and Pasco counties. The entries reflect the original historical compilation and do not represent current property values or a verified complete record of all sales.
Tampa Bay Office Sales: September 2018
The September 2018 office sales log included 26 transactions totaling $51,184,400 and 443,678 square feet of reported building area.
Sales Summary
| Metric | September 2018 |
|---|---|
| Listed Transactions | 26 |
| Total Sales Volume | $51,184,400 |
| Reported Building Area | 443,678 SF |
| Average Transaction Value | $1,968,631 |
| Average of Listed Prices/SF | $175.15 |
The $175.15 figure is the arithmetic average of the individual prices per square foot listed below. It is not total sales volume divided by total building area.
Sales Highlights
- Largest sale: 610 N Morgan Street in Tampa sold for $29,300,000. The original log reported 298,465 square feet and a price of $98.17 per square foot.
- Second-largest sale: 8522 US Highway 19 in Port Richey sold for $4,062,500, with a reported building area of 13,071 square feet and a price of $310.80 per square foot.
- Another substantial transaction: 7901 4th Street N in St. Petersburg sold for $3,695,000, with a reported building area of 38,514 square feet.
- Highest listed price per square foot: 2421 4th Street N in St. Petersburg sold for $1,980,000, or $604.40 per square foot.
September 2018 Office Sales Log
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| Property Address | City | ZIP | Acres | Building SF | Sale Date | Sale Price | Price/SF |
|---|---|---|---|---|---|---|---|
| 1501 S Pinellas Ave #G | Tarpon Springs | 34689 | 1.15 | 2,304 | 9/7/2018 | $315,000 | $136.72 |
| 2421 4th St N | St. Petersburg | 33704 | 0.25 | 3,276 | 9/7/2018 | $1,980,000 | $604.40 |
| 1511 Lakeview Rd | Clearwater | 33756 | 0.43 | 2,091 | 9/10/2018 | $360,000 | $172.17 |
| 7040 S 301 Hwy | Riverview | 33578 | 0.77 | 1,540 | 9/11/2018 | $450,000 | $292.21 |
| 613 Oakfield Dr | Brandon | 33511 | 1.48 | 15,337 | 9/12/2018 | $2,200,000 | $143.44 |
| 501 S Lincoln Ave #101 | Clearwater | 33756 | 1.25 | 984 | 9/13/2018 | $136,900 | $139.13 |
| 2329 Sunset Point Rd #204 | Clearwater | 33765 | 2.18 | 1,072 | 9/13/2018 | $149,900 | $139.83 |
| 610 N Morgan St | Tampa | 33602 | 1.00 | 298,465 | 9/14/2018 | $29,300,000 | $98.17 |
| 601 S Lincoln Ave | Clearwater | 33756 | 0.20 | 3,560 | 9/14/2018 | $267,800 | $75.22 |
| 1405 49th St S | Gulfport | 33707 | 0.05 | 500 | 9/17/2018 | $30,000 | $60.00 |
| 26829 Tanic Dr | Wesley Chapel | 33544 | 0.06 | 2,604 | 9/19/2018 | $412,500 | $158.41 |
| 5136 Little Rd | New Port Richey | 34655 | 1.18 | 5,393 | 9/20/2018 | $750,000 | $139.07 |
| 15316 N Florida Ave | Tampa | 33613 | 4.56 | 27,880 | 9/21/2018 | $2,150,000 | $77.12 |
| 501 S Lincoln Ave #102 | Clearwater | 33756 | 1.23 | 984 | 9/21/2018 | $155,900 | $158.43 |
| 1219 N Franklin St | Tampa | 33602 | 0 | 3,040 | 9/25/2018 | $750,000 | $246.71 |
| 6920 W Linebaugh Ave | Tampa | 33625 | 0.06 | 2,500 | 9/25/2018 | $385,000 | $154.00 |
| 17751 Gunn Hwy | Odessa | 33556 | 1.53 | 4,152 | 9/26/2018 | $1,225,000 | $295.04 |
| 8522 US Highway 19 | Port Richey | 34668 | 1.94 | 13,071 | 9/26/2018 | $4,062,500 | $310.80 |
| 8517 Gunn Hwy | Odessa | 33556 | 0.60 | 4,589 | 9/27/2018 | $515,000 | $112.22 |
| 7901 4th St N | St. Petersburg | 33702 | 1.65 | 38,514 | 9/27/2018 | $3,695,000 | $95.94 |
| 501 S Lincoln Ave #206 | Clearwater | 33756 | 1.23 | 984 | 9/27/2018 | $79,000 | $80.28 |
| 720 E Henderson Ave | Tampa | 33602 | 0.15 | 1,617 | 9/28/2018 | $410,000 | $253.56 |
| 13211 Walsingham Rd | Largo | 33774 | 1.02 | 3,421 | 9/28/2018 | $441,900 | $129.17 |
| 5737 9th Ave N | St. Petersburg | 33710 | 0.19 | 1,479 | 9/28/2018 | $233,000 | $157.54 |
| 34041 US Highway 19 N #D | Palm Harbor | 34684 | 2.98 | 2,870 | 9/28/2018 | $525,000 | $182.93 |
| 6235 66th St N #103 | Pinellas Park | 33781 | 2.35 | 1,451 | 9/28/2018 | $205,000 | $141.28 |
| Total of 26 Listed Transactions | 443,678 | $51,184,400 | |||||
Putting the Results in Context
The Morgan Street transaction accounted for more than half of the month’s listed sales volume and building area. Its size makes it a major influence on the overall results.
Compared with the $75,619,900 listed in the August 2018 log, September’s total was approximately 32.3% lower. This comparison reflects the two historical compilations rather than a verified measure of all market activity.
Individual sales vary in size, location, condition, occupancy, and transaction circumstances. Those characteristics should be reviewed before selecting a property as a valuation comparison.
Source: John Milsaps’s original September 2018 office sales log. Totals and averages above are calculated from the 26 supplied entries. Addresses, property details, and prices per square foot are reproduced as originally reported; individual records have not been independently reverified. Zero acreage entries do not establish 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.