2012
Transaction Information and Analysis
(Data
Extracted from MLS Only – Does not include additional transaction information
from Non-MLS Listings/Sales)
18
Commercial Property Sales in the Plant City Market
·
12
Commercial Property Sales labeled as No Special Sale Conditions
o
66.66%
No Special Sale Condition Property Sales
·
6
Commercial Property Sales labeled as REO/Bank-Owned Transactions
o
33.33%
REO/Bank-Owned Property Sales
·
0
Commercial Property Sales labeled as Short-Sale Transactions
o
0%
Short Sale Property Sales
Property
Pricing Analysis
·
Sale
Prices Ranging from a low of $70,000 to a high of $1,000,000
o
Sale
Price Average was $251,417
o
Sale
Price Median was $190,000
o
There
were more property sales in the lower tier price segments or more sales that
were less than the average sale price indicated above.
o
More
Specifically 12 of the 18 Plant City Commercial Property Sales (67%) were below
the average price of $251,417.
Sale
Price/SF Analysis
·
Sale
Price/SF Ranging from a low of $15.07/SF to a high of $182.38/SF
o
Sale
Price/SF Average was $65.42
o
Sale
Price/SF Median was $51.91
o
There
were slightly more property sales in the lower tier price/SF segment meaning
there more sales with a Price/SF less than the average Price/SF.
o
More
Specifically 10 of the 18 Plant City Property Sales (62%) were below the
average price of $65.42.
Sale
Price to List Price Analysis
·
Sale
Price Compared Lowest Listing Price Comparison revealed a range:
o
The
Low was 64.24% Sale Price to Listing Price
o
The
High was 100% Sale Price to Listing Price (1 Sold for 100% of Listing)
o
Average
Sale Price to List Price was 80.41%
o
Median
Sale Price to List Price was 79.69%
o
Most
properties are selling near 80% range of their final listing price or to put it
another way a 20% discount from the final/last listing price for a property is
being realized by sellers in this market.
Note – The
above sales included a range of property types such as: Warehouse, Office-Warehouse,
Office, Medical Office, Motel/Hotel, Vehicle Related, Day Care, Church, Retail,
General Commercial, etc.
The above
information helps display the state of the commercial and industrial sales
market in Plant City, as represented by the sold properties that were listed in
MLS. Two-thirds of these sales were
typical transactions, but approximately 1/3 of the sales were bank-owned
inventory. Bank-owned and/or distressed type sales continued to be part of the
local commercial and industrial real estate sales market but made up less the ½
the sales within the MLS data for Plant City.
For more
detailed information regarding the Plant City market or to have us perform an
analysis or appraisal of your property please feel free to contact us.
Mike
Cliggitt, MAI, MRICS
863-661-1165
(Direct)mcliggitt.mai@verizon.net
Cliggitt
Valuation, Inc.
Real Estate
Analysts, Advisors, & AppraisersPlant City Land Appraisals
