What does it cost to build a commercial shell like this?
[deleted]
[{"id": "fzl8c28", "text": "Really depends on cost of permits and developers fees.", "replies": [], "depth": 1}, {"id": "fzlchrd", "text": "I\u2019m a lender, not a builder, but seems about right. I\u2019m financing the construction of a 125,000 SF tilt wall warehouse in Houston right now and it\u2019s costing roughly $100/SF excluding land and the GC fee. Assuming concrete/material costs and labor costs are roughly the same in Vegas as in Houston, then factor in interest carry/loan fees and their cost basis is likely around $5.5MM. Take into account the land appreciation, selling costs, and some presumed price negotiation, and $6.8MM starts to look like a pretty fair starting point.", "replies": [{"id": "fzmkxis", "text": "Thank you! \n\nJust to clarify, are you talking about an empty shell with no interior build out?", "replies": [], "depth": 2}], "depth": 1}, {"id": "fzmslv3", "text": "I build Butler buildings for about $70/ft. Bare bones residential at $150/ft but can easily be $200/ft for a smaller or more challenging project. I think something like that you could figure $100-120/ft as a total guess ballpark number.", "replies": [], "depth": 1}, {"id": "fznlv30", "text": "Correct. The warehouse space will be empty and it\u2019s the tenant\u2019s responsibility to build racks/storage space. The particular property I\u2019m referencing will have about 20,000 SF of office space on two stories, so the building footprint is 115k SF warehouse and 10k SF office. The office is nothing fancy, and it will also be delivered empty with the tenant responsible for their own office finish out.", "replies": [], "depth": 1}]