South Florida Church Sales Report for 2013

Over all the number of church sales in South Florida was unchanged in 2013 compared with 2012. Between the two counties there were a total of 10 church property sales in 2012 and nine in 2013. The numbers broke down this way. In Broward there were two church sales in 2013 and five in 2013. In Dade the were eight church sales in 2012 and four in 2013.

The average price per square foot in Dade took a small dip n 2013. The average price in 2012 was $110.35 in  2013 it was $97.58. Broward did see a large jump in the average price per square foot from $83.17 in 2012 to $211.90 in 2013.

 

The biggest difference though, between 2012 and 2013 was in the average days on the market. In both Broward and Dade to average days on the market for church properties dropped in half.

In Broward the average days on the market for church properties that closed in 2012 was 591 days. In 2013 that dropped to an average of 294, a decline of just over 50%.

In Dade the average days on the market declined from 235 days in 2012 to 114 days in 2013 for a decline of 51%. 

This is an indication of increased activity in the church property submarket.

By far the largest church sale in 2013 was a 72,751 square foot building at 20850 Griffin Rd in Southwest Ranches that was sold by the Jehovah's Witness to Iglesia Cristiana Senales for $12,000,000.

Other Broward churches sold in 2013 include:

12700 W Broward Blvd, Ft Lauderdale was sold by First Presbyterian Church for $2,700,000.

17950 Griffin Rd, Southwest Ranches was sold to Igelsia Mision Vida for $1,570,000.

1855 McKinley St, Hollywood was sold by the Florida Baptist Convention to the New Life Romanian Baptist Church for $880,000.

5726 Washington St, Hollywood that was sold by the Christian Science Society to Sarg Financial for $120,000.

In Miami Dade County the MLS recorded the following four 2013 church sales:

24000 SW 187 Ave, Homestead was sold by Primeria Iglesia Evangelica Vida to Florida Conference Association of Seventh Day Adventists for $835,000.

10185 SW 7th Ave, Miami was sold by Miami Seventh Day Baptist to Florida Conference Association of Seventh Day Adventists for $600,000.

2255 Flagler St, Miami was sold by Iglesia Cristianos Unidos to Leon Medical Centers for $440,000.

3790  NW 167 St, Miami Gardens was sold by Richardson Holdings, Inc. to Breakthrough International for $455,000.

Barry Smith
Church Property Specialist
The Huttoe Group Realty Services