Cost to build?

Question

Hello there-

Does anyone know the typical cost per sqft to build a commercial stucture? I would like to know how much it would cost to build a 50,000 sqft apartment complext that goes up two to three flights and provides concrete parking (for two) for each unit (50 Units).

Thanks everyone!

P.S. I don't need exacts I just need a rough estimate and make sure that it is on the high end not the lower end, thanks again.

Jared B. · Answer

A "Contractor" is also refered to as a "builder" in my book.

Matt Henning · Answer

Is it just me or does anyone else think it is strange, that not one person has mentioned a contractor to get estimated cost/sq.ft.

I have heard Architect, RE Broker several times (which makes me physically ill), mortgage broker, RS Means, A guy from Hawaii (which compares to japan, or Germany, or .....you pick something outrageous).

Find out from the building permits who is building those units currently. Stop by the job site and talk with the Sup. or Proj manager. A cheap lunch will usually reveal some great information. If you want accurate information would it not make sense to go to the source. My experience is Architects are generally a bad source, the rest speak for themselves.
Good luck

Jared B. · Answer

I 'm in L.A. and RS means is WAY OFF for our area even after their area multiplier.  I design and PM for a general contractor and want to develop and study the numbers as much as possible.  For starters I give homeowners the $200 sf price for turn key projects.  They typically range from $180-$230 residential RETAIL (beach cities) depeneding on the materials the homeowner chooses.  50 units on the other hand is differnt than the typical SFR.

I would figure it like this, for rough numbers - Come up with a unit layout (or layouts), similar to what you'd be implementing on your project.  Do the breakdown on materials and labor (not sf costs).  Then multiply by 50 (or number of units).  That's your rough costs for the units (on the high side because you should get a discount on P&O for each trade).  Then add in site work, parking, plans ($4 sf), etc.  At least that's how I'd do it.

Or 1000 sf x $160 (discounted for economies of scale) = 160000 x 50 = 8,000,000.  That would be a ballpark number you could start with.  You might be able to do better, but I wouldn't count on it.

Without at least a single unit plan it's hard to figure, 1000sf, they'd be 2bd/1ba, I imagine.  What quality, granite counters, glass shower enclosures,...?  Get specific and i'll see what I can come up with if you like.

Otherwise, chat with builders who've done one, like Jon mentioned.

FYI - 3 stories is still conventional light construction which is what I do.  Let me know if you need a general, i can put together 10+ man framing and foundation crews that know what they're doing.

Good luck.

Jon Holdman · Answer

So, here's what I've slowly been doing since I first asked the question.  I've been watching projects that are similar to what I have in mind, talking to realtors and taking down some names.  Yesterday when the wife and I were out looking at open houses, we looked at a three unit townhouse project that was very similar to what I would like to do. I spent some time talking with the agent, who turned out to have done several projects with the same architect and builder.  He did say the architect on this project had gotten very busy, and they were now working with a different one.  He gave me all their names and phone numbers, and pointed out another project still under construction. So, now I have contact numbers for people who might really be able to pull this off.

So, drive around and look for something similar to what you have in mind.  Usually, there's a big sign up with the names of the builder and architect.  Give them a call and have a chat.

Jon

Richard F. · Answer

You can easily obtain a "cost per square foot" range, for the appropriate type of construction you have in mind, from any commercial real estate agent, appraiser, and most mortgage brokers in the desired locale.

If you want to put up a highrise here, it will run $300-350 per square foot, plus the land acquisition cost. SFH's are generally in the $80-110 range, plus land.

There are also available government and industry reports/info on the "construction cost index" for more in-depth research. Try Google with your location name.

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Calixto Urdiales · Answer

Thanks for the advice Jon and off the top of my head I know several places that I can go to right now.

Thanks again!

Bart Pair · Answer

If all you want is a rough range, you can use this free RS Means cost calculator.

The calculator doesn't give any information on what is included in the price estimates and what is not, so be careful.

Hope that helps.

http://www.realestatejournal.com/toolkit/constructioncosts/

Calixto Urdiales · Answer

Oh well thanks anyways!

Jon Holdman · Answer

I asked this question once upon a time, too, and didn't get any real data.  The useful piece of advice I did get is to talk to an architect about it.  Like Tim says, there are lots and lots of variables.

In addition to the things Tim mentions pertaining to the construction itself, you have all the zoning, utility, and entitlement issues that may dramatically affect the cost.

Timothy W. · Answer

Dude....you don't even realize how complex your question is....  What you ask is highly dependent upon architects, engineers, local codes, finishes, union or non-union.....and a plethora of other particulars....  You need to find a buddy who's a commercial construction estimator working in the area you're looking at to get an answer that is even remotely close.