APPRAISAL ANALYSIS
TAMPA, SAINT PETERSBURG FLORIDA
Punta Gorda, is located approximately 100 miles south of Tampa, which is the
largest market in the region. Although Punta Gorda is not part of the MSA of
Tampa, it is influenced by Tampa more than any other market. That being said,
Punta Gorda is only 120 miles southwest of Orlando and 160 miles northwest of
Miami.
Punta Gorda itself is a rather small community, which is typical of coastal towns,
with a few large cities widely spaced. Otherwise, the towns a small because people
who live there obviously want to live near the water.
The population in 2003 was measured at 149,248 people, with 16,120 living within
the city limits of Punta. Punta Gorda is not only the county seat of Charlotte
County, but is the only city in the county. The census measured between 1980
and 1990 was the fastest population growth in the United States during that
period. Money Magazine name Punta Gorda as the best place in the south in 1997
and has listed it as one of the top five best places to live in America on four
different occasions since then.
Last year, Punta Gorda was devastated by a category four hurricane, which cause
extensive damage to the town. Residents fully expected a decline in property
values. Oddly enough, not only did property values not decline, but have
skyrocketed. The constant population increases will make churches even more
desirable.
TAMPA, FLORIDA REGIONAL ANALYSIS
The subject is influenced in a general manner by the economic, political, physical
and social characteristics of the Tampa Metropolitan Statistical Area (MSA). An
MSA is a geographic area with a significant population nucleus, along with any
adjacent communities that have a high degree of economic and social integration
with that nucleus.
The value of real property is influenced by the interaction of four basic forces.
These forces include social trends, economic circumstances, environmental
conditions, and governmental controls and regulations. The interaction of these
four forces influences the value of every parcel of real estate in the market.
The Tampa MSA is part of a metropolitan statistical area that includes the cities of
St. Petersburg and Clearwater. Counties included in the Tampa MSA are
Hillsborough (of which Tampa is the county seat), Pasco, Hernando, and Pinellas.
St. Petersburg and Clearwater are located in Pinellas County. Unless stated
otherwise, the data in this report will focus on Tampa and Hillsborough County,
rather than on the entire Tampa/St. Petersburg/Clearwater area.
Social Trends: Social forces are trends that are exerted primarily through
population characteristics. Real property values are affected not only by population
changes and characteristics, but also by various forms of human activity. In 2000,
Tampa/Hillsborough County demographics broke down as follows:
Race
White 62%
Hispanic 19%
African-American 15%
Mixed race (non-Hispanic) 2%
Other (non-Hispanic) 3%
Age
Under 18 25%
18-54 55%
55 and older 21%
The sexes were divided almost evenly, with 51% of the county’s population being
female. Out of the more than 400,000 households, 65% had families.
Population and Area: Population growth trends influence employment growth,
income levels, and many other key demand parameters analyzed in determining
commercial real estate productivity.
The census has provided population data from 2002, and the projections are
considered reliable. The Tampa/St. Petersburg/Clearwater MSA ranks as the 19th
largest MSA in the United States, second in the Southeast, and the largest in
Florida. The population for the Tampa MSA in 2002 was 2,479,500. Between
1990 and 2000, the MSA population increased by 16%. The population for the
Tampa MSA is projected to be 2,678,900 in 2007, an increase from 2002 of 7%.
Hillsborough County represents more than 40% of the total population of the
Tampa MSA. In addition to being the MSA’s largest county in terms of population, it
is also the locale for the highest number of households and the highest effective
buying income. The Hillsborough County population grew from 834,054 in 1990 to
1,044,821 in 2002, an increase of 20%. Its projected population for 2007 is
1,152,893, a five-year increase from 2002 of 10%. These numbers are evidenced
by the large amount of new school construction projects approved in 2002 – eight
out of twenty-five total approved projects were for elementary, middle, or high
schools.1
Higher Education: Institutions of higher learning typically are not as vulnerable
to economic downswings, and they help to provide an area with a more solid
employment base. Noted universities and colleges in Tampa/Hillsborough County
are the University of South Florida (the second largest university in the Southeast),
University of Tampa, Hillsborough Community College, Eckerd College, Tampa
Technical Institute, and University of Phoenix – Tampa Main Campus. Throughout
the seven-county region are located approximately twenty more institutions of
higher learning.
Recreational and Regional Attractions: Recreational and regional attractions
enhance an area’s quality of life. These activities may also have a significant
economic impact on an area by increasing the demand for services and retail trade
created by visitors.
The Tampa area’s physical attributes have defined its culture from the onset of its
establishment. Its warm climate and waterfront location have had obvious
influences on every aspect of life in Tampa. Tampa Bay and the Gulf of Mexico
(est. 25 miles west of the Tampa CBD) provide limitless opportunities for boating,
fishing, or just relaxing on the famous Florida beaches. The Port of Tampa is
home to an increasing number of cruise ships and is becoming one of the fastest-
growing cruise ports in the United States. From 1998 to 2001, the passenger
volume increased 111%, from 244,968 to 517,235. That number is expected to
increase to one million by 2006.1
In addition to the cornucopia of water-related recreational opportunities in the
Tampa area, residents and visitors can choose from a broad spectrum of other
activities and attractions. Hillsborough County alone houses sixteen regional and
state parks, including Lake Park, Upper Tampa Bay Park, Hillsborough River State
Park, and Little Manatee River State Park. There are eleven major festivals held in
Hillsborough County each year, including the Florida Strawberry Festival, the
Florida State Fair, the Gasparilla Festival of Arts, Fiesta Day, and Bern’s Wine
Fest. Major tourist attractions include Busch Gardens, Ybor City, the Lowry Park
Zoo, the Florida Aquarium, and Adventure Island.
The arts are alive and thriving in the Tampa area. Two new jewels in its crown are
the Tampa Museum of Art and the Tampa Bay Performing Arts Center, where one
can enjoy a wide variety of performances, from ballets to plays to popular artists to
the Florida Orchestra. The Tampa area is home to 26 other museums and
performance halls of note, including the Florida Holocaust Museum, the Museum of
Science and History, the Children’s Museum of Tampa, the Museum of Fine Arts,
the Bishop Planetarium, the Bayfront Center/Mahaffey Theater, the Ruth Eckerd
Hall, and the Tampa Theatre.
The Tampa area provides a stimulating environment for professional sports.
Tampa is, of course, home to the Tampa Bay Buccaneers, the 2003 Super Bowl
Champions. Tropicana Field is home of the Tampa Bay Devil Rays baseball team.
Pro hockey is represented by the Tampa Bay Lightning, arena football by the
Tampa Bay Storm. There are three professional golf courses, open year-round to
the public.
Economic Forces: Economic forces are the fundamental relationships between
current and anticipated supply and demand and the economic activities in which
the population participates in order to satisfy its wants, needs, and demands
through its purchase power.
The national recession that began in the fall of 1999 contributed to a nationwide
weakness in the manufacturing sector. The events of September 11, 2001 were a
major cause of this weakness, as market participants stood back and waited to see
what would happen next. The recession’s effects on the Tampa area are reflected
in the area unemployment figures from 2001 to 2002 – an increase of .9%. The
downturn was temporary, minor, and somewhat indirect due to the fact that
manufacturing does not play a major role in the area’s overall economic picture,
ranking sixth out of ten area industry types. 1
The economic climate in the Tampa/Hillsborough County area is thriving. The area
boasts a healthy balance of many different types of businesses and industries,
giving it strength “across the board”, rather than being dependent upon one or two
major industries. See “Industries and Employment” for more information on the
economic climate in the Tampa area.
Income: The economic vitality of an area is an important consideration in
forecasting the demand and potential income for commercial real estate. Income
levels provide an indication of an area’s economic vitality since they reflect an area’
s economic growth and its residents’ standards of living.
Effective buying income (EBI) is disposal personal income – the amount of income
available after taxes – used to purchase goods and services. The Tampa/St.
Petersburg/Clearwater metropolitan area’s EBI stood at over $73 billion in 2001
and is expected to increase by 31% to just under $96 billion by 2006.
Tampa/Hillsborough County claims the lion’s share at 49% of the total, with over
$20 billion in EBI in 2001 and over $28 billion expected in 2006, an increase of
36%. Per capita income for Hillsborough County in 2000 was $21,565, up from
$14,203 in 1999 – an increase of nearly 52%. Median household income for
Hillsborough County in 2002 was $47,280.1
Industries and Employment: The distribution of employment and the overall
unemployment rate help determine the economic character of an area. As
mentioned above, the Tampa area’s vital economy can be attributed to its wide
variety of many healthy business and industries. Certainly one of the strongest
factors in the overall economic picture is the Port of Tampa. Please see “Other
Industrial Transportation” for more information on the Port of Tampa.
Another very strong contributor to the local economy is the agriculture industry. In
1997, Hillsborough County was home to over 2,600 farms. In 2000, it ranked third
in the state for total net farm income, at over $171 million. 1
The corporate climate in the Tampa area is welcoming and profitable. It has
attracted hundreds of businesses in the last decade – in particular, those in the
communications and finance industries.
Hillsborough County’s top five major public and private employers are listed below,
along with the number of employees:
Hillsborough Co. School District – 21,426
MacDill Air Force Base – 19,000
Verizon Communications – 14,000
University of South Florida – 12,477
Hillsborough Co. Government – 10,886
The regional top five private sector employers are as follows:
Publix Super Markets, Inc. – 23,248
Baycare - 17,000
Verizon Communications – 14,000
Danka Business Systems PLC – 9,500
Lincare Holdings – 6,1002
Highway Transportation: Highway accessibility is a primary consideration in
planning an area’s future growth and development. The Tampa metropolitan area
is accessed via I-75, a major north-south corridor that connects the
Michigan/Canada border to Detroit, Cincinnati, Atlanta, and Orlando to Tampa,
extending down to Naples in South Florida. The Hillsborough County I-75 corridor
contains 39 miles of corporate campuses. The corridor’s residential population is
estimated at 300,000. I-275 serves as a local beltway around the metropolitan
area. I-4 is a major Florida corridor extending from Tampa in a northwesterly
direction through Orlando and ending at Daytona Beach. The I-4 corridor
connects with I-95, another major north-south corridor serving the entire Eastern
Seaboard of the United States, from the Maine/Canada border to Miami. Driving
time between Orlando and Tampa is roughly 1.25 hours, an estimated 7.5 hours
between Atlanta and Tampa.
Public Transportation: The Tampa/Hillsborough County area is serviced by the
HARTline (Hillsborough Area Regional Transit), a bus system linking major
metropolitan points to both the central business district and other suburban
areas.
Air Transportation: The Tampa International Airport serves 58 domestic
destinations daily via nonstop flights and 14 international destinations. Out of 149
national airports, Tampa International is ranked 29th busiest. The Conde´ Nast
Traveler has ranked the airport as No. 1 in the nation and No. 3 in the world as the
best airport facility in terms of customer satisfaction.1 In addition, Tampa is served
by two regional airports, Peter O. Knight Airport and Vandenberg Airport. These
two smaller airports facilitate ingress and egress for smaller, private jets and turbo-
props. Albeit much smaller than the Tampa International Airport, the St.
Petersburg/Clearwater International Airport in Pinellas County serves as an
auxiliary facility for the region. It is located approximately 18 miles to the west of
the Tampa CBD.2
Other Industrial Transportation: Without question, the largest industrial
transportation hub for the Tampa area is the Port of Tampa, the largest seaport in
Florida. Through it passes nearly half of all seaborne cargo that enters or leaves
the state. In 2001, that meant 47 million tons of cargo. The port supports 93,000
jobs for the area. In addition, the Tampa area is served by the CSX railroad
system, with approximately 300 trains weekly connecting Tampa with most major
United States markets.2
Environmental Forces /Climate: Environmental forces are both natural and
manmade forces that influence real property values. Some environmental forces
include climactic conditions, natural barriers to future development, primary
transportation systems, and the nature and desirability of the immediate areas
surrounding a property.
The Tampa area enjoys a warm, sub-tropical climate year-round. The topography
is fairly flat to rolling (eastern Hillsborough County). Humidity is usually fairly high.
The average minimum and maximum winter temperatures are 51.9 and 71.5
degrees, respectfully; average minimum and maximum summer temperatures are
74 and 90 degrees. Annual minimum temperature is 63.5 degrees; annual
maximum is 81.7. Average annual precipitation is 47.62 inches, the heaviest
rainfall occurring June through September. The entire state of Florida, is, of
course, heavily affected by periodic tropical storms and hurricanes that typically
occur in the summer and early fall months. These figures are from the period
3/25/1900 through 3/31/2004.3 Please see the topographical map of the State of
Florida on the following page.
Governmental Forces: Governmental, political, and legal actions at all levels
have an impact on property values. The legal climate of a particular time or in a
particular place may overshadow the natural market forces of supply and
demand. The State of Florida mandates very high standards in building and
development due to the tropical storms and hurricanes – and their destruction –
that are a fact of life in Florida. In Hillsborough County, DRIs (Developments of
Regional Impact) have been implemented very successfully in several areas. They
are large, thoughtfully planned projects that serve local businesses and residents
with world-class facilities and amenities.
State of Florida Topographical Map
Utilities: The availability of utilities is extremely important to the future
development of any community. Electricity and natural gas are available to
residents and businesses in Tampa through Tampa Electric Company and Peoples
Gas. Water and sewage are maintained by the Hillsborough County Water
Department.
Outlook: Our review of the above data indicates that the Tampa metropolitan
area has an impressively stable economy, evidenced by increasing income and
population levels, the steady creation of new jobs and influx of corporations, and
low unemployment rates. Metropolitan Tampa also features limitless regional
attractions and a world-class transportation system that includes land, air, rail, and
water. In conclusion, the economic outlook for the Metro Tampa MSA is very
favorable for the overall success of the subject.
TAMPA, SAINT PETERSBURG FLORIDA
Punta Gorda, is located approximately 100 miles south of Tampa, which is the
largest market in the region. Although Punta Gorda is not part of the MSA of
Tampa, it is influenced by Tampa more than any other market. That being said,
Punta Gorda is only 120 miles southwest of Orlando and 160 miles northwest of
Miami.
Punta Gorda itself is a rather small community, which is typical of coastal towns,
with a few large cities widely spaced. Otherwise, the towns a small because people
who live there obviously want to live near the water.
The population in 2003 was measured at 149,248 people, with 16,120 living within
the city limits of Punta. Punta Gorda is not only the county seat of Charlotte
County, but is the only city in the county. The census measured between 1980
and 1990 was the fastest population growth in the United States during that
period. Money Magazine name Punta Gorda as the best place in the south in 1997
and has listed it as one of the top five best places to live in America on four
different occasions since then.
Last year, Punta Gorda was devastated by a category four hurricane, which cause
extensive damage to the town. Residents fully expected a decline in property
values. Oddly enough, not only did property values not decline, but have
skyrocketed. The constant population increases will make churches even more
desirable.
TAMPA, FLORIDA REGIONAL ANALYSIS
The subject is influenced in a general manner by the economic, political, physical
and social characteristics of the Tampa Metropolitan Statistical Area (MSA). An
MSA is a geographic area with a significant population nucleus, along with any
adjacent communities that have a high degree of economic and social integration
with that nucleus.
The value of real property is influenced by the interaction of four basic forces.
These forces include social trends, economic circumstances, environmental
conditions, and governmental controls and regulations. The interaction of these
four forces influences the value of every parcel of real estate in the market.
The Tampa MSA is part of a metropolitan statistical area that includes the cities of
St. Petersburg and Clearwater. Counties included in the Tampa MSA are
Hillsborough (of which Tampa is the county seat), Pasco, Hernando, and Pinellas.
St. Petersburg and Clearwater are located in Pinellas County. Unless stated
otherwise, the data in this report will focus on Tampa and Hillsborough County,
rather than on the entire Tampa/St. Petersburg/Clearwater area.
Social Trends: Social forces are trends that are exerted primarily through
population characteristics. Real property values are affected not only by population
changes and characteristics, but also by various forms of human activity. In 2000,
Tampa/Hillsborough County demographics broke down as follows:
Race
White 62%
Hispanic 19%
African-American 15%
Mixed race (non-Hispanic) 2%
Other (non-Hispanic) 3%
Age
Under 18 25%
18-54 55%
55 and older 21%
The sexes were divided almost evenly, with 51% of the county’s population being
female. Out of the more than 400,000 households, 65% had families.
Population and Area: Population growth trends influence employment growth,
income levels, and many other key demand parameters analyzed in determining
commercial real estate productivity.
The census has provided population data from 2002, and the projections are
considered reliable. The Tampa/St. Petersburg/Clearwater MSA ranks as the 19th
largest MSA in the United States, second in the Southeast, and the largest in
Florida. The population for the Tampa MSA in 2002 was 2,479,500. Between
1990 and 2000, the MSA population increased by 16%. The population for the
Tampa MSA is projected to be 2,678,900 in 2007, an increase from 2002 of 7%.
Hillsborough County represents more than 40% of the total population of the
Tampa MSA. In addition to being the MSA’s largest county in terms of population, it
is also the locale for the highest number of households and the highest effective
buying income. The Hillsborough County population grew from 834,054 in 1990 to
1,044,821 in 2002, an increase of 20%. Its projected population for 2007 is
1,152,893, a five-year increase from 2002 of 10%. These numbers are evidenced
by the large amount of new school construction projects approved in 2002 – eight
out of twenty-five total approved projects were for elementary, middle, or high
schools.1
Higher Education: Institutions of higher learning typically are not as vulnerable
to economic downswings, and they help to provide an area with a more solid
employment base. Noted universities and colleges in Tampa/Hillsborough County
are the University of South Florida (the second largest university in the Southeast),
University of Tampa, Hillsborough Community College, Eckerd College, Tampa
Technical Institute, and University of Phoenix – Tampa Main Campus. Throughout
the seven-county region are located approximately twenty more institutions of
higher learning.
Recreational and Regional Attractions: Recreational and regional attractions
enhance an area’s quality of life. These activities may also have a significant
economic impact on an area by increasing the demand for services and retail trade
created by visitors.
The Tampa area’s physical attributes have defined its culture from the onset of its
establishment. Its warm climate and waterfront location have had obvious
influences on every aspect of life in Tampa. Tampa Bay and the Gulf of Mexico
(est. 25 miles west of the Tampa CBD) provide limitless opportunities for boating,
fishing, or just relaxing on the famous Florida beaches. The Port of Tampa is
home to an increasing number of cruise ships and is becoming one of the fastest-
growing cruise ports in the United States. From 1998 to 2001, the passenger
volume increased 111%, from 244,968 to 517,235. That number is expected to
increase to one million by 2006.1
In addition to the cornucopia of water-related recreational opportunities in the
Tampa area, residents and visitors can choose from a broad spectrum of other
activities and attractions. Hillsborough County alone houses sixteen regional and
state parks, including Lake Park, Upper Tampa Bay Park, Hillsborough River State
Park, and Little Manatee River State Park. There are eleven major festivals held in
Hillsborough County each year, including the Florida Strawberry Festival, the
Florida State Fair, the Gasparilla Festival of Arts, Fiesta Day, and Bern’s Wine
Fest. Major tourist attractions include Busch Gardens, Ybor City, the Lowry Park
Zoo, the Florida Aquarium, and Adventure Island.
The arts are alive and thriving in the Tampa area. Two new jewels in its crown are
the Tampa Museum of Art and the Tampa Bay Performing Arts Center, where one
can enjoy a wide variety of performances, from ballets to plays to popular artists to
the Florida Orchestra. The Tampa area is home to 26 other museums and
performance halls of note, including the Florida Holocaust Museum, the Museum of
Science and History, the Children’s Museum of Tampa, the Museum of Fine Arts,
the Bishop Planetarium, the Bayfront Center/Mahaffey Theater, the Ruth Eckerd
Hall, and the Tampa Theatre.
The Tampa area provides a stimulating environment for professional sports.
Tampa is, of course, home to the Tampa Bay Buccaneers, the 2003 Super Bowl
Champions. Tropicana Field is home of the Tampa Bay Devil Rays baseball team.
Pro hockey is represented by the Tampa Bay Lightning, arena football by the
Tampa Bay Storm. There are three professional golf courses, open year-round to
the public.
Economic Forces: Economic forces are the fundamental relationships between
current and anticipated supply and demand and the economic activities in which
the population participates in order to satisfy its wants, needs, and demands
through its purchase power.
The national recession that began in the fall of 1999 contributed to a nationwide
weakness in the manufacturing sector. The events of September 11, 2001 were a
major cause of this weakness, as market participants stood back and waited to see
what would happen next. The recession’s effects on the Tampa area are reflected
in the area unemployment figures from 2001 to 2002 – an increase of .9%. The
downturn was temporary, minor, and somewhat indirect due to the fact that
manufacturing does not play a major role in the area’s overall economic picture,
ranking sixth out of ten area industry types. 1
The economic climate in the Tampa/Hillsborough County area is thriving. The area
boasts a healthy balance of many different types of businesses and industries,
giving it strength “across the board”, rather than being dependent upon one or two
major industries. See “Industries and Employment” for more information on the
economic climate in the Tampa area.
Income: The economic vitality of an area is an important consideration in
forecasting the demand and potential income for commercial real estate. Income
levels provide an indication of an area’s economic vitality since they reflect an area’
s economic growth and its residents’ standards of living.
Effective buying income (EBI) is disposal personal income – the amount of income
available after taxes – used to purchase goods and services. The Tampa/St.
Petersburg/Clearwater metropolitan area’s EBI stood at over $73 billion in 2001
and is expected to increase by 31% to just under $96 billion by 2006.
Tampa/Hillsborough County claims the lion’s share at 49% of the total, with over
$20 billion in EBI in 2001 and over $28 billion expected in 2006, an increase of
36%. Per capita income for Hillsborough County in 2000 was $21,565, up from
$14,203 in 1999 – an increase of nearly 52%. Median household income for
Hillsborough County in 2002 was $47,280.1
Industries and Employment: The distribution of employment and the overall
unemployment rate help determine the economic character of an area. As
mentioned above, the Tampa area’s vital economy can be attributed to its wide
variety of many healthy business and industries. Certainly one of the strongest
factors in the overall economic picture is the Port of Tampa. Please see “Other
Industrial Transportation” for more information on the Port of Tampa.
Another very strong contributor to the local economy is the agriculture industry. In
1997, Hillsborough County was home to over 2,600 farms. In 2000, it ranked third
in the state for total net farm income, at over $171 million. 1
The corporate climate in the Tampa area is welcoming and profitable. It has
attracted hundreds of businesses in the last decade – in particular, those in the
communications and finance industries.
Hillsborough County’s top five major public and private employers are listed below,
along with the number of employees:
Hillsborough Co. School District – 21,426
MacDill Air Force Base – 19,000
Verizon Communications – 14,000
University of South Florida – 12,477
Hillsborough Co. Government – 10,886
The regional top five private sector employers are as follows:
Publix Super Markets, Inc. – 23,248
Baycare - 17,000
Verizon Communications – 14,000
Danka Business Systems PLC – 9,500
Lincare Holdings – 6,1002
Highway Transportation: Highway accessibility is a primary consideration in
planning an area’s future growth and development. The Tampa metropolitan area
is accessed via I-75, a major north-south corridor that connects the
Michigan/Canada border to Detroit, Cincinnati, Atlanta, and Orlando to Tampa,
extending down to Naples in South Florida. The Hillsborough County I-75 corridor
contains 39 miles of corporate campuses. The corridor’s residential population is
estimated at 300,000. I-275 serves as a local beltway around the metropolitan
area. I-4 is a major Florida corridor extending from Tampa in a northwesterly
direction through Orlando and ending at Daytona Beach. The I-4 corridor
connects with I-95, another major north-south corridor serving the entire Eastern
Seaboard of the United States, from the Maine/Canada border to Miami. Driving
time between Orlando and Tampa is roughly 1.25 hours, an estimated 7.5 hours
between Atlanta and Tampa.
Public Transportation: The Tampa/Hillsborough County area is serviced by the
HARTline (Hillsborough Area Regional Transit), a bus system linking major
metropolitan points to both the central business district and other suburban
areas.
Air Transportation: The Tampa International Airport serves 58 domestic
destinations daily via nonstop flights and 14 international destinations. Out of 149
national airports, Tampa International is ranked 29th busiest. The Conde´ Nast
Traveler has ranked the airport as No. 1 in the nation and No. 3 in the world as the
best airport facility in terms of customer satisfaction.1 In addition, Tampa is served
by two regional airports, Peter O. Knight Airport and Vandenberg Airport. These
two smaller airports facilitate ingress and egress for smaller, private jets and turbo-
props. Albeit much smaller than the Tampa International Airport, the St.
Petersburg/Clearwater International Airport in Pinellas County serves as an
auxiliary facility for the region. It is located approximately 18 miles to the west of
the Tampa CBD.2
Other Industrial Transportation: Without question, the largest industrial
transportation hub for the Tampa area is the Port of Tampa, the largest seaport in
Florida. Through it passes nearly half of all seaborne cargo that enters or leaves
the state. In 2001, that meant 47 million tons of cargo. The port supports 93,000
jobs for the area. In addition, the Tampa area is served by the CSX railroad
system, with approximately 300 trains weekly connecting Tampa with most major
United States markets.2
Environmental Forces /Climate: Environmental forces are both natural and
manmade forces that influence real property values. Some environmental forces
include climactic conditions, natural barriers to future development, primary
transportation systems, and the nature and desirability of the immediate areas
surrounding a property.
The Tampa area enjoys a warm, sub-tropical climate year-round. The topography
is fairly flat to rolling (eastern Hillsborough County). Humidity is usually fairly high.
The average minimum and maximum winter temperatures are 51.9 and 71.5
degrees, respectfully; average minimum and maximum summer temperatures are
74 and 90 degrees. Annual minimum temperature is 63.5 degrees; annual
maximum is 81.7. Average annual precipitation is 47.62 inches, the heaviest
rainfall occurring June through September. The entire state of Florida, is, of
course, heavily affected by periodic tropical storms and hurricanes that typically
occur in the summer and early fall months. These figures are from the period
3/25/1900 through 3/31/2004.3 Please see the topographical map of the State of
Florida on the following page.
Governmental Forces: Governmental, political, and legal actions at all levels
have an impact on property values. The legal climate of a particular time or in a
particular place may overshadow the natural market forces of supply and
demand. The State of Florida mandates very high standards in building and
development due to the tropical storms and hurricanes – and their destruction –
that are a fact of life in Florida. In Hillsborough County, DRIs (Developments of
Regional Impact) have been implemented very successfully in several areas. They
are large, thoughtfully planned projects that serve local businesses and residents
with world-class facilities and amenities.
State of Florida Topographical Map
Utilities: The availability of utilities is extremely important to the future
development of any community. Electricity and natural gas are available to
residents and businesses in Tampa through Tampa Electric Company and Peoples
Gas. Water and sewage are maintained by the Hillsborough County Water
Department.
Outlook: Our review of the above data indicates that the Tampa metropolitan
area has an impressively stable economy, evidenced by increasing income and
population levels, the steady creation of new jobs and influx of corporations, and
low unemployment rates. Metropolitan Tampa also features limitless regional
attractions and a world-class transportation system that includes land, air, rail, and
water. In conclusion, the economic outlook for the Metro Tampa MSA is very
favorable for the overall success of the subject.
Real estate appraisal services provided by American Appraisers Corp
Real Estate Directory Sites
States covered by American Appraisers
Qualifications of David J. Glauber, MAI
Questions about real estate appraisal and appraisers
Church Appraisers Appraising churches
Real Estate Directory Sites
States covered by American Appraisers
Qualifications of David J. Glauber, MAI
Questions about real estate appraisal and appraisers
Church Appraisers Appraising churches
_American
__Appraisers
___Corporation
__Appraisers
___Corporation
(502) 267-6320 Office
(502) 267-6344 Fax
10507 Watterson Tr., 2nd Flr
Louisville, KY. 40299
(502) 267-6344 Fax
10507 Watterson Tr., 2nd Flr
Louisville, KY. 40299
 | |  | |  | |  | |  | |  |
Nationwide real estate appraisal service
 |
 |
 |
 |
 |
 |
 |
 |
 |
 |
 |
 |