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Looking for small Commercial Office Space
Posted on 1/29/13 at 10:55 am
Posted on 1/29/13 at 10:55 am
What are the pitfalls of buying Commercial Office Space? I am looking to buy a small Commercial Office. I only need about 1,500 to 1,800 sf for myself but will consider a larger unit that can be split. I don't need high visibility but do need good condition building. I prefer to keep the total investment under $500k and want to be in highland road/perkins/essen triangle.
Sales prices I've looked at range between $140 to $170/SF. Lease rates are between $13.50 to $20/SF.
I've never bought commercial RE and can use advice or recommendations?
Sales prices I've looked at range between $140 to $170/SF. Lease rates are between $13.50 to $20/SF.
I've never bought commercial RE and can use advice or recommendations?
1
Posted on 1/29/13 at 3:57 pm to ynlvr
quote:
Sales prices I've looked at range between $140 to $170/SF.
New construction, or buying the shell space? My new construction costs on a 3000sq ft medical building are about $177/sq ft, so your number seems pretty good. Add about $40-$70 /sq ft for build-out costs.
quote:
Lease rates are between $13.50 to $20/SF.
My 4 sattelite offices are $21, $26, $26, and $31. And that is just rent, no operating expenses.
ETA: In Houston, btw.
This post was edited on 1/29/13 at 3:59 pm
Posted on 1/30/13 at 7:16 am to MSMHater
Contact Randy Herring at Falgoust & Associates... Having a good CRE agent that will walk you through the process is important.
Good luck to you !
Good luck to you !
Posted on 1/30/13 at 7:30 am to Teauxler
Thanks for the rec
Posted on 1/30/13 at 8:14 am to ynlvr
PM me if you need contact info. I can tell you its a buyer's market right now. Go get em !
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