Lakeland Real Estate: Office Market Comparison 2008 vs 2009

Lakeland Real Estate: 2008 vs. 2009 - Office Market Transaction Comparison

Number of Office Transactions - Down 20%

Total $ Volume - Down 37.31%

Average Sale Price - Down 21.64%
Median Sale Price - Down 25.50%

Average Sale Price/SF - Up 18.25%
Median Sale Price/SF - Up 35.10%

From 2008 to 2009 the Lakeland office market experienced a decline in the total number of office transactions and a substantial decline in the total dollar volume of transactions. The average sale price per transaction was down over 20% and the median sale price was off by 25%. Although transactions and dollar volume were off from 2008 the average sale price per square foot saw an increase of 18.25%.

Note - Information was compiled from the property appraisers website from 2008 and 2009 office sales searches.
For more information or for an in-depth analysis of a specific property contact:

Mike Cliggitt
863-661-1165
http://www.cliggitt.com/

Lakeland Real Estate: Office Property Sales - 2008

Lakeland Real Estate: Office Property Sales - 2008

Information Summary
Lakeland - 15 office sales in 2008
Price Range: $145,000 - $7,500,000
Price Range Per Square Foot: $61.39 - $286.79
Building Size Range: 1,200 SF - 48,992 SF
Building Age Range: 1975 - 2000

Total Price Analysis
Average Price: $1,295,833
Median Price: $555,000

Price/SF Analysis

Average Price Per Square Foot: $128.10

Median Price Per Square Foot: $113.41

Building Size Analysis
Average Size: 10,664 SF
Median Size: 4,575 SF

Building Year Built Analysis

Average Year Built: 1987

Median Year Built: 1985

Note - Information was compiled from data provided by the Polk County Property Appraisers Website
Note 2 - Price Per Square Foot Includes Land


Data In Chart Form

Lakeland Real Estate: Office Property Sales - 2009

Lakeland Real Estate: Office Property Sales - 2009

Information Summary
Lakeland - 12 office sales in 2009
Price Range: $110,000 - $5,400,000
Price Range Per Square Foot: $80.00 - $229.99
Building Size Range: 825 SF - 33,338 SF
Building Age Range: 1975 - 2008 (*1967 - Is under Renovation and price Reflects Est. Renovation Costs)

Total Price Analysis
Average Price: $1,015,392
Median Price: $413,500

Price/SF Analysis
Average Price Per Square Foot: $151.47
Median Price Per Square Foot: $153.21

Building Size Analysis
Average Size: 6,969 SF
Median Size: 2,515 SF

Building Year Built Analysis
Average Year Built: 1994
Median Year Built: 1995

Note - Information was compiled from data provided by the Polk County Property Appraisers Website
Note 2 - Price Per Square Foot Includes Land

Data In Chart Form