Tampa Office Sales Comps & Report | SEP 2021
Historical report: September 2021. This report covers Hillsborough County office sales during the original reporting period. These figures do not represent current market conditions or property values.
Hillsborough County Office Sales: September 2021
Office property sales totaled $43,353,300 across 30 transactions in September 2021, including 21 professional office properties and nine medical office properties.
Compared with September 2020, reported sales volume increased approximately 589%, transaction count increased approximately 131%, and the reported average sale price per square foot increased 35.1%.
Year-over-Year Sales Comparison
| Metric | September 2020 | September 2021 |
|---|---|---|
| Transactions | 13 | 30 |
| Total Sales Volume | $6,290,800 | $43,353,300 |
| Reported Average Sale Price per SF | $154 | $208 |
| Highest Sale Price | $1,750,000 | $8,127,400 |
Largest Reported Office Sale
The largest transaction was 3802 Corporex Park Drive in Tampa, which sold for $8,127,400. The original report listed a 143,000-square-foot building, constructed in 1987, on 3.45 acres, with a rounded sale price of $57 per square foot.
This transaction accounted for approximately 19% of September’s total reported sales volume.
September 2021 Office Sales Transactions
The table below reproduces the sales listed in the original report. Property categories and rounded prices per square foot follow that report.
On smaller screens, scroll the table sideways to see all columns.
| Property Type | Address | City | Building SF | Sale Price | $/SF |
|---|---|---|---|---|---|
| Commercial Condo | 13311 Winding Oak Ct. | Tampa | 2,112 | $292,500 | $138 |
| Commercial Condo | 5111 N. Armenia Ave. | Tampa | 2,025 | $500,000 | $247 |
| Commercial Condo | 4710 N. Habana Ave. | Tampa | 1,589 | $250,000 | $157 |
| Commercial Condo | 20743 Center Oak Dr. | Tampa | 1,508 | $340,000 | $225 |
| Commercial Condo | 2835 W. De Leon St. | Tampa | 2,302 | $612,500 | $266 |
| Commercial Condo | 1208 E. Kennedy | Tampa | 2,415 | $830,400 | $344 |
| Commercial Condo | 1120 E. Kennedy | Tampa | 1,008 | $372,100 | $369 |
| Medical Office | 3201 W. Waters Ave. | Tampa | 5,989 | $720,000 | $120 |
| Medical Office | 2916 W. Waters Ave. | Tampa | 4,480 | $699,000 | $156 |
| Medical Office | 2816 W. Virginia Ave. | Tampa | 9,072 | $1,700,000 | $187 |
| Medical Office | 4145 N. Armenia Ave. | Tampa | 1,849 | $350,000 | $189 |
| Medical Office | 3400 N. Florida Ave. | Tampa | 3,702 | $850,000 | $230 |
| Medical Office | 220 N. Howard Ave. | Tampa | 3,128 | $864,000 | $276 |
| Medical Office | 3706 W. Swann Ave. | Tampa | 1,454 | $500,000 | $344 |
| Medical Office | 10905 N. Nebraska Ave. | Tampa | 3,922 | $427,000 | $109 |
| Medical Office | 507 W. Alexander St. | Plant City | 15,653 | $3,878,400 | $248 |
| Professional Office | 17878 N. 41 Hwy. | Lutz | 3,920 | $690,000 | $176 |
| Professional Office | 5483 W. Waters Ave. | Tampa | 37,314 | $6,750,000 | $181 |
| Professional Office | 1202 W. Linebaugh Ave. | Tampa | 2,588 | $400,000 | $155 |
| Professional Office | 3811 W. Sligh Ave. | Tampa | 3,452 | $595,000 | $172 |
| Professional Office | 6845 N. Dale Mabry Hwy. | Tampa | 5,574 | $830,000 | $149 |
| Professional Office | 5009 N. Central Ave. | Tampa | 3,960 | $950,000 | $240 |
| Professional Office | 246 W. Hillsborough Ave. | Tampa | 1,307 | $410,000 | $314 |
| Professional Office | 326 S. Plant Ave. | Tampa | 3,839 | $1,015,000 | $264 |
| Professional Office | 1001 E. Columbus Dr. | Tampa | 5,558 | $675,000 | $121 |
| Professional Office | 11806 S. 41 Hwy. | Gibsonton | 2,329 | $550,000 | $236 |
| Professional Office | 205 Ridgewood Ave. | Brandon | 4,948 | $600,000 | $121 |
| Professional Office | 1136 Nikki View Dr. | Brandon | 2,604 | $625,000 | $240 |
| Professional Office | 3802 Corporex Park Dr. | Tampa | 143,000 | $8,127,400 | $57 |
| Professional Office | 1909 N. Brush St. | Tampa | 36,519 | $7,950,000 | $218 |
| Total Reported Sales Volume | $43,353,300 | ||||
Comparison with August 2021
August 2021 recorded 29 transactions totaling $52,757,900, with a reported average sale price of $289 per square foot. Its largest reported transaction was $8,643,000.
September recorded one more transaction than August, but lower total sales volume and a lower reported average price per square foot.
For additional historical context, August 2020 recorded 16 transactions totaling $36,112,500, with a highest sale price of $26,900,000 and a reported average of $162 per square foot.
Using Sales Comps to Evaluate Your Property
The significant year-over-year increase in September’s sales volume reflects a comparison with a much smaller transaction total in September 2020. Monthly results also depend on the size and mix of properties sold.
For an individual office or medical office building, the most useful comparisons account for location, building size and condition, occupancy, lease terms, and the circumstances of each sale. A countywide average provides context but should not be applied directly to a specific property.
Source: Hillsborough County Property Appraiser records, compiled by John Milsaps for the original September 2021 report. Property classifications, figures, and rounded prices per square foot are reproduced from that report. Historical data has not been updated to reflect subsequent transactions or record changes.
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.