Tampa Bay Office Sales Report | May 2019
Historical report: May 2019. This report summarizes the original Tampa Bay office sales compilation. These historical figures do not reflect current property values or a verified complete record of all sales.
Tampa Bay Office Sales: May 2019
The May 2019 office sales log included 35 transactions totaling $76,150,400, with a combined reported building area of 460,027 square feet.
The largest entry, at 3505 Frontage Road in Tampa, accounted for approximately 70% of the listed sales volume.
Sales Summary
| Metric | May 2019 |
|---|---|
| Listed Transactions | 35 |
| Total Sales Volume | $76,150,400 |
| Reported Building Area | 460,027 SF |
| Average Sale Price | $2,175,726 |
| Average of Listed Prices/SF | $190.15 |
The $190.15 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: 3505 Frontage Road in Tampa was listed at $53,313,000, with a combined reported building area of 300,092 square feet on 12.52 acres. The listed price was $177.66 per square foot.
- Second-largest sale: 34650 US Highway 19 N in Palm Harbor sold for $4,450,000, with a reported building area of 52,083 square feet and a price of $85.44 per square foot.
- Highest listed price per square foot: 110 Island Way in Clearwater sold for $1,150,000, or $538.39 per square foot based on the reported 2,136-square-foot building area.
May 2019 Office Sales Log
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| Property Address | City | ZIP | Acres | Building SF | Sale Date | Sale Price | Price/SF |
|---|---|---|---|---|---|---|---|
| 6740 Crosswinds Dr N #G | St. Petersburg | 33710 | 1.17 | 646 | 5/31/2019 | $87,000 | $134.67 |
| 1215 W Reynolds St | Plant City | 33563 | 0.26 | 760 | 5/29/2019 | $160,000 | $210.53 |
| 2401 W Platt St | Tampa | 33609 | 0.14 | 1,224 | 5/1/2019 | $485,000 | $396.24 |
| 9225 Ulmerton Rd #308 | Largo | 33771 | 0.03 | 1,236 | 5/31/2019 | $119,000 | $96.28 |
| 4027 W Dr Martin Luther King Jr Blvd | Tampa | 33614 | 0.23 | 1,250 | 5/9/2019 | $390,000 | $312.00 |
| 32502 US Highway 19 N #E | Palm Harbor | 34684 | 1.44 | 1,327 | 5/2/2019 | $200,000 | $150.72 |
| 301 East Lake Woodlands Pkwy #7 | Oldsmar | 34677 | 0.70 | 1,426 | 5/24/2019 | $220,900 | $154.91 |
| 3937 Tampa Rd #5 | Oldsmar | 34677 | 2.39 | 1,500 | 5/3/2019 | $260,000 | $173.33 |
| 4600 N Habana Ave 27 | Tampa | 33614 | 0.24 | 1,500 | 5/3/2019 | $331,500 | $221.00 |
| 8501 Dr Martin Luther King Jr St N | St. Petersburg | 33702 | 0.20 | 1,514 | 5/17/2019 | $306,000 | $202.11 |
| 2026 5th Ave N | St. Petersburg | 33713 | 0.13 | 1,540 | 5/1/2019 | $250,000 | $162.34 |
| 9225 Ulmerton Rd #U | Largo | 33771 | 0.04 | 1,549 | 5/24/2019 | $106,500 | $68.75 |
| 1831 N Belcher Rd #C3 | Clearwater | 33765 | 0.03 | 1,655 | 5/28/2019 | $280,500 | $169.49 |
| 2764 Sunset Point Rd | Clearwater | 33759 | 0.04 | 1,700 | 5/29/2019 | $273,000 | $160.59 |
| 1209 N Franklin St | Tampa | 33602 | 0.00 | 1,824 | 5/15/2019 | $600,000 | $328.95 |
| 175 1st St S #OU-3 | St. Petersburg | 33701 | 3.98 | 1,936 | 5/7/2019 | $575,000 | $297.00 |
| 110 Island Way | Clearwater | 33767 | 0.17 | 2,136 | 5/15/2019 | $1,150,000 | $538.39 |
| 11553 S 41 Hwy | Gibsonton | 33534 | 2.33 | 2,336 | 5/15/2019 | $310,000 | $132.71 |
| 6020 Park Blvd | Pinellas Park | 33781 | 0.09 | 2,502 | 5/15/2019 | $832,000 | $332.53 |
| 1432 Dr Martin Luther King Jr St N | St. Petersburg | 33704 | 0.16 | 3,021 | 5/17/2019 | $625,000 | $206.89 |
| 8330 Stone Run Ct 2 | Tampa | 33615 | 0.00 | 3,162 | 5/13/2019 | $400,000 | $126.50 |
| 4020 Portsmouth Rd | Largo | 33771 | 0.55 | 4,045 | 5/9/2019 | $360,000 | $89.00 |
| 707 N Franklin St 6 | Tampa | 33602 | 0.00 | 4,112 | 5/31/2019 | $600,000 | $145.91 |
| 6260 Seminole Blvd | Seminole | 33772 | 0.43 | 4,521 | 5/31/2019 | $517,000 | $114.36 |
| 4601 4th St N | St. Petersburg | 33703 | 0.36 | 4,742 | 5/3/2019 | $1,415,000 | $298.40 |
| 10812 Gandy Blvd | St. Petersburg | 33702 | 0.30 | 4,771 | 5/1/2019 | $639,000 | $133.93 |
| 669 1st Ave N | St. Petersburg | 33701 | 0.08 | 4,804 | 5/31/2019 | $1,415,000 | $294.55 |
| 3080 East Bay Dr | Largo | 33771 | 0.51 | 4,908 | 5/17/2019 | $390,000 | $79.46 |
| 4701 Central Ave | St. Petersburg | 33713 | 0.34 | 5,188 | 5/3/2019 | $1,025,000 | $197.57 |
| 1022 Main St #A | Dunedin | 34698 | 3.38 | 5,421 | 5/21/2019 | $451,000 | $83.19 |
| 1236 Dr Martin Luther King Jr St N | St. Petersburg | 33705 | 0.18 | 5,683 | 5/9/2019 | $675,000 | $118.78 |
| 1825 Sunset Point Rd | Clearwater | 33765 | 1.70 | 7,803 | 5/24/2019 | $1,189,000 | $152.38 |
| 8404 Wilsky Blvd | Tampa | 33615 | 1.80 | 16,110 | 5/31/2019 | $1,750,000 | $108.63 |
| 34650 US Highway 19 N | Palm Harbor | 34684 | 3.32 | 52,083 | 5/28/2019 | $4,450,000 | $85.44 |
| 3505 Frontage Rd | Tampa | 33607 | 12.52 | 300,092 | 5/6/2019 | $53,313,000 | $177.66 |
| Total of 35 Listed Transactions | 460,027 | $76,150,400 | |||||
Putting the Results in Context
The Frontage Road entry dominates both sales volume and reported building area. The original spreadsheet combined four building areas and four land areas into that single row. It should therefore be evaluated as a combined entry rather than assumed to describe one standalone building.
The remaining entries include individual commercial units and properties of substantially different sizes. Relevant comparisons require a review of location, condition, occupancy, land, and transaction circumstances.
Source: John Milsaps’s original May 2019 Tampa Bay office sales compilation. Totals and averages above are calculated from the 35 supplied entries. Addresses, property details, and individual 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.