Why is Tampa cheaper than the rest of the state of Florida?

I know it's not Miami and the vacancy rate is around 70%, but it seems like a large city close to the ocean.
What are some other reasons that Tampa is consistantly below the rest of Florida?
In Market Conditions - Asked by max s. - Nov 1, 2011
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Answer(s)

J. D. M.
Broker/Agent
Okeechobee, FL

Tampa, like many areas in Florida, had a high volume of new construction from 2004 through 2007. Many of these buildings now sit vacant. Rather than infill, it appears the trend in the Tampa Bay area is still new construction. I don't know that I would say it "is consistently below the rest of Florida."

Nov 1, 2011
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max s.
Santa Cruz, CA

On loop net market trends it looks Tampa "is consistently below the rest of Florida"

Nov 2, 2011
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max s.
Santa Cruz, CA

On loop net market trends it looks Tampa "is consistently below the rest of Florida"

Nov 2, 2011
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Tom W.
Owner/Investor
Port Richey, FL

very depressed, I own here and you have to stay on top of everything. That is one of the reasons why some of the big boys walked away from there property.

Nov 3, 2011
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Sean D.
Sarasota, FL

Tampa is such a large area it certainly has its depressed areas and its highly desired neighborhoods as well. Is there a specific property type you are referring to? 70% vacancy rates are way outside the norm for most commercial property. Multi-Family is running around 6%. As I alluded to earlier, so many variables can be considered in looking at specific properties in certain areas. Condition, age, location, construction, etc, etc... I think Tampa has great long term potential for the very reason you mentioned in your question. A strong city in a great Gulfcoast location.

Sep 12, 2013
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