OK, OK… I knowwwwwwww I’m violating Piffin Code 107/ Section 13, Paragraph D but…
Buddy calls me up and says he’s looking at maybe buying a 6000 sq ft commercial bldg in poor shape internally, questionable mechanicals. Outside mediocre but he thinks it’s not unlikely based on it’s past usage and condition that it would need to be gutted. Asks me just a WAG what a $/sq ft cost for that might be to turn it into rental offices and perhaps an appt on one floor. This is in a high cost area (New Haven, CT which has Andy Engle’s “CT to Real World” dollar devaluation in full effect).
So I said… gee, I dunno maybe 150-200 per. Which comes to 1.2 million simoleans. Then I thought…nahhhhhhhh can’t be but surfing a bit through some figures tossed around for (admittedly larger scale) commercial reno projects, seems to agree.
Reality checks?
PaulB
Replies
You are in the right price range for one of the larger contractors. right now we are looking at medical space with demo and some mechanicals that is around $85.00/ sq ft. Keep in mind I'm in Central Ohio. NO fancy finishes, hardly any plumbing & a reworking of HVAC.
Oh Oh....mixed use?
I'd be interested to hear from someones real world numbers who are contracting these types of installations.
Bob's next test date: 12/10/07
I'd guess you gotta be close. $100.00 per bare minimum.
Maybe break it down into smaller lots and then figure the mechanicals seperate.
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Assumng we are talking non-union work and a low to moderate finish level you could probably make it happen for $100 per sq. ft. as long as nothing drastic is happening with the HVAC. Everything I price is Massachusetts, Connecticut, or NYC so I think that's a pretty accurate number. $200 is certaintly within range depending on what happens inside and is probably a bare minimum if you have any union labor involved.