Hillsborough County Office Sales Report | September 2019
Historical report: September 2019. This report summarizes office sales in Hillsborough County recorded when the original report was prepared. These figures provide historical context and do not reflect current property values.
Hillsborough County Office Sales: September 2019
September 2019 recorded 12 professional and medical office transactions totaling $21,659,500 in Hillsborough County. The report included nine professional office sales and three medical office sales.
Sales Summary by Property Type
| Metric | Professional Office | Medical Office |
|---|---|---|
| Transactions | 9 | 3 |
| Total Sales Volume | $16,744,500 | $4,915,000 |
| Average Sale Price | $1,860,500 | $1,638,333 |
| Reported Average Price/SF | $204.86 | $183.64 |
Largest Sale and Highest Price per Square Foot
2502 Orient Road in Tampa recorded the month’s largest sale at $10,489,500. The professional office property contained 45,284 square feet, producing a reported price of $231.64 per square foot.
5324 Van Dyke Road in Tampa recorded the highest price per square foot at $400. The 600-square-foot property sold for $240,000.
These transactions illustrate why total sale price and price per square foot should be evaluated separately. Building size, location, condition, land, and other property characteristics can produce substantial differences between individual sales.
September 2019 Professional Office Sales
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| Property Address | City | Building SF | Sale Price | Price/SF |
|---|---|---|---|---|
| 2502 Orient Rd | Tampa | 45,284 | $10,489,500 | $231.64 |
| 602 N 41 Hwy | Tampa | 15,200 | $2,100,000 | $138.16 |
| 5710 Hoover Blvd | Tampa | 7,836 | $1,800,000 | $229.71 |
| 5103 N Armenia Ave | Lutz | 5,000 | $875,000 | $175.00 |
| 6320 S 301 Hwy | Tampa | 1,979 | $465,000 | $234.97 |
| 2902 N Armenia Ave | Tampa | 1,825 | $350,000 | $191.78 |
| 5324 Van Dyke Rd | Tampa | 600 | $240,000 | $400.00 |
| 3413 W Fletcher Ave | Riverview | 1,250 | $225,000 | $180.00 |
| 2715 N MacDill Ave | Ruskin | 3,200 | $200,000 | $62.50 |
| Professional Office Total | $16,744,500 | |||
September 2019 Medical Office Sales
| Property Address | City | Building SF | Sale Price | Price/SF |
|---|---|---|---|---|
| 3304 E Giddens Ave | Riverview | 16,712 | $3,800,000 | $227.38 |
| 13403 Boyette Rd | Tampa | 4,308 | $975,000 | $226.32 |
| 8002 Beaty Grove Dr | Tampa | 1,440 | $140,000 | $97.22 |
| Medical Office Total | $4,915,000 | |||
How to Read These Sales Comps
The largest transaction accounted for approximately 48% of the month’s total sales volume. A single large sale can materially influence monthly results, so the total should be considered alongside the number and characteristics of the properties sold.
The average prices per square foot shown above are the averages reported in the original report. They are not a valuation of any individual property.
Source: Hillsborough County Property Appraiser public records, compiled by John Milsaps for the original September 2019 report. Transactions reflect records available at the time of preparation. Addresses, city labels, property classifications, and building areas are reproduced from that report and have not been independently reverified.
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.