Carter Henderson from Florida ROI, a commercial property brokerage, brokered the sale of 607 Magnolia Avenue, a medical-professional office building located in Tampa’s Historic Hyde Park neighborhood.
The sale closed on January 5, 2021, despite the COVID-19 pandemic that has heavily impacted the office market since March of 2020. The sale price of $2,160,000.00 was 98% of the original asking price with closing taking place within 10 weeks of going on the market.
The building was originally erected in 1910 as a residential house. It was built by Isbon S. Giddens who served as Treasurer for the City of Tampa. At one point the property was owned by the Culbreath family, an early developer of Tampa.
Carter’s client had owned the property since 1986 and continued to maintain and improve the 4,500 sq. ft. building including adding an elevator in the 1990’s. With a goal of retiring at the end of 2020, the owner enlisted Carter and Florida ROI to market and sell the property, with a goal of closing early in 2021. .
Contact us at 813.514.1070 for more information on sales and leasing commercial property in greater Tampa Bay area
