Office Space Sold | NOV 2019
Historical report: November 2019. This report covers office sales in Hillsborough County that were publicly recorded when the original report was prepared. These figures do not represent current market conditions or property values.
Hillsborough County Office Sales: November 2019
The original report identified 19 office sales totaling $26,117,800, consisting of 17 professional office transactions and two medical office transactions.
Professional office sales totaled $23,158,800, while medical office sales totaled $2,959,000.
Sales Summary by Property Type
| Reported Metric | Professional Office | Medical Office |
|---|---|---|
| Transactions | 17 | 2 |
| Total Sales Volume | $23,158,800 | $2,959,000 |
| Average Sale Price | $1,362,282 | $1,479,500 |
| Reported Average Sale Price per SF | $183.21 | $270.40 |
Largest Sale by Dollar Amount
The largest reported transaction was 405 N. Reo Street in Tampa, which sold for $10,700,000.
- Reported building area: 87,899 square feet
- Year built: 1981
- Land area: 4.21 acres
- Reported sale price per square foot: $121.73
This transaction accounted for approximately 41% of the month’s combined reported sales volume.
Highest Reported Price per Square Foot
The highest reported price per square foot was $350.38 for the medical office property at 693 W. Lumsden Road, Unit A, in Brandon.
- Sale price: $959,000
- Reported building area: 2,737 square feet
- Year built: 2003
- Land area: 0.19 acres
Professional Office Sales
The following table reproduces the professional office transactions listed in the original report. Prices per square foot follow the original figures.
On smaller screens, scroll the tables sideways to see all columns.
| Address | City | Building SF | Sale Price | $/SF |
|---|---|---|---|---|
| 3409 W. Fletcher Ave. | Tampa | 2,061 | $485,000 | $235.32 |
| 3210 Mott Rd. | Dover | 654 | $125,000 | $191.13 |
| 2211 E. 3rd Ave. | Tampa | 1,296 | $229,000 | $176.70 |
| 105 S. Albany Ave. | Tampa | 1,650 | $490,500 | $297.27 |
| 11412 N. Central Ave. | Tampa | 1,815 | $262,000 | $144.35 |
| 905 S. Kings Ave. | Brandon | 1,916 | $412,500 | $215.29 |
| 13049 W. Linebaugh Ave. | Tampa | 3,000 | $580,000 | $193.33 |
| 4905 W. Laurel St. | Tampa | 25,743 | $5,225,000 | $202.97 |
| 405 N. Reo St. | Tampa | 87,899 | $10,700,000 | $121.73 |
| 1138 Kyle Wood Ln. | Brandon | 3,982 | $690,000 | $173.28 |
| 4260 W. Linebaugh Ave. | Tampa | 4,500 | $933,500 | $207.44 |
| 8461 W. Linebaugh Ave. | Tampa | 2,470 | $407,500 | $164.98 |
| 8593 W. Linebaugh Ave. | Tampa | 2,490 | $405,000 | $162.65 |
| 6730 W. Linebaugh Ave. | Tampa | 10,715 | $1,625,000 | $151.66 |
| 501 S. Eichenfeld Dr., Unit 103 | Brandon | 1,000 | $150,000 | $150.00 |
| 539 Medical Oaks Dr., Unit 2 | Brandon | 1,904 | $123,800 | $65.02 |
| 508 S. Habana Ave., Unit 100 | Tampa | 1,205 | $315,000 | $261.41 |
| Professional Office Sales Total | $23,158,800 | |||
Medical Office Sales
| Address | City | Building SF | Sale Price | $/SF |
|---|---|---|---|---|
| 2506 W. Virginia Ave. | Tampa | 10,503 | $2,000,000 | $190.42 |
| 693 W. Lumsden Rd., Unit A | Brandon | 2,737 | $959,000 | $350.38 |
| Medical Office Sales Total | $2,959,000 | |||
Using Sales Comps to Evaluate Your Property
The largest sale by total price was not the highest-priced sale per square foot. The Reo Street transaction represented approximately 41% of total dollar volume, while the smaller Lumsden Road medical office achieved the highest reported price per square foot.
Only two medical office sales were included in this report. Their reported average should therefore be interpreted in the context of that small sample and the differences between those properties.
Relevant comparisons account for location, building size and condition, land area, occupancy, lease terms, and the circumstances of each sale. Property categories follow the original report and should be verified when selecting individual comparables.
Source: Hillsborough County Property Appraiser records, compiled by John Milsaps for the original November 2019 report. Transactions were included according to the dates publicly recorded at the time of the report. Figures may differ from later compilations. Property classifications, prices per square foot, and reported averages follow the original report.
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.