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  • Mike Cliggitt, CCIM, MAI

Sarasota, FL - 2018-2019 Small Office Transaction Summary (up to 2,000 SF)

Sarasota, FL – 2018 Small Office Transaction Summary (up to 2,000 SF)

We have analyzed office sales data from the Sarasota market for 2018. Precisely 38 sales were reviewed and summarized. These were smaller office properties less than 2,000 SF in size. Transactions were well dispersed throughout the year. After the low number of transactions and average price per square foot in the 1st quarter, the 2nd quarter of 2018 experienced the most transactions as well as the highest average price per square foot. Total transaction volume for this small office market segment totaled nearly $5.7 million for 2018 and the average price per square foot for all transactions in the size segment for 2018 was $209.02/SF with an average building size of 1,237 SF. On a quarterly basis the price per square foot analysis is as follows:

· 1st Quarter 2018 – 3 Office Sales: Average Price per SF = $176.91

· 2nd Quarter 2018 – 14 Office Sales: Average Price per SF = $239.10

· 3rd Quarter 2018 – 12 Office Sales: Average Price per SF = $183.54

· 4th Quarter 2018 – 9 Office Sales: Average Price per SF = $205.25

· Full Year 2018 – 38 Office Sales: Average Price per SF = $209.02


Sarasota, FL – 2019 Small Office Transaction Summary (up to 2,000 SF)

We have analyzed office sales data from the Sarasota market for 2019. Just under 30 sales were reviewed and summarized. These were smaller office properties less than 2,000 SF in size. Sales volume and average price per square foot were strongest in the 4th quarter of the year. After the 1st quarter of the year, the average price per square foot rose steadily through the end of the year. Total transaction volume for this small office market segment totaled approximately $6.4 Million for 2019 and the average price per square foot for all transactions for 2019 was $237.80/SF with an average building size of 1,175 SF. On a quarterly basis the price per square foot analysis is as follows:

· 1st Quarter 2019 – 8 Office Sales: Average Price per SF = $194.49

· 2nd Quarter 2019 – 5 Office Sales: Average Price per SF = $175.02

· 3rd Quarter 2019 – 5 Office Sales: Average Price per SF = $232.38

· 4th Quarter 2019 – 11 Office Sales: Average Price per SF = $301.30

· Full Year 2019 – 29 Office Sales: Average Price per SF = $237.80


Sarasota Office Market (up to 2,000 SF) - Year over Year Changes (2018 to 2019)

Average Size Building Sold – 5% decrease in average size building sold from 1,237 SF to 1,175 SF

Price per Square Foot – 13.8% increase in average $/SF from 2018 to 2019

Number of Transactions – 23.7% decrease in the # of transactions from 2018 to 2019

Dollar Volume of Transactions – 8% increase in the total $ volume for transactions from 2018 to 2019


Thank you for your interest. For more information on the Sarasota Office Market or to discuss your property valuation needs feel free to contact:


Mike Cliggitt, CCIM, MAI, MRICS


Commercial Realtor


813.810.1615 Direct Line



Sarasota Office Real Estate Advisor



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