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Tampa, FL – 2015-2019 Small Office Transaction Summary (up to 2,000 SF)

Updated: Oct 5, 2021

Tampa, FL – 2015-2019 Small Office Transaction Summary (up to 2,000 SF)

We have analyzed office sales data from the Tampa market for 2015 through 2019. There were 162 small office and 4 general retail sales which were reviewed and summarized. These were smaller office properties less than 2,000 SF in size. The sales had an irregular distribution over the 5-year period, with a high volume of office sales in this size segment occurring in the 2nd quarter of 2016, the 1st quarter of 2017, and the 4th quarter of 2017. The average price per square foot from 2015-2019 showed a relatively consistent trend from 2015-2018, then peaked in late 2018 at nearly $400/SF. Total transaction volume for this small office market segment totaled over $47 Million from 2015-2019. The average price per square foot for office transactions in 2015-2019 was $196.27/SF with an average building size of 1,446 SF. On a yearly basis the price per square foot analysis is as follows:


· 2015 – 36 Office Sales: Average Price per SF = $156.94

· 2016 – 37 Office Sales: Average Price per SF = $170.76

· 2017 – 41 Office Sales: Average Price per SF = $188.37

· 2018 – 27 Office Sales: Average Price per SF = $230.74

· 2019 – 30 Office Sales: Average Price per SF = $232.42

· 5 Year Totals – 171 Office Sales: Average Price per SF = $196.27













*Data and charts from CoStar


Thank you for your interest. For more information on the Tampa 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

mike@cliggitt.com

Tampa Office Real Estate Advisor

www.cliggittrealty.com

www.cliggitt.com


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