Updated about 12 hours ago on .
Demo building and build condos?
Not sure what forum to post this in, so I figured here. Can also move it I guess. Hopefully this gets some eyes on it.
I have access to an industrial property. The cap rate on it isn't great and the value to sell it isn't great currently either (due to interest rates and economy in general).
Does anyone have any estimates of how much it would cost to construct a 3 story/unit condo in its place? I did some searches and it's giving me estimates of $600-$800 a foot. But that has to be for a SFH. Otherwise, if each unit is 2k square foot, we're looking at $1.6m per unit. You'd have to sell for $2m per unit to make it worth your while.
Any thoughts or can anyone point me in a direction for further research/analysis?
I have access to an industrial property. The cap rate on it isn't great and the value to sell it isn't great currently either (due to interest rates and economy in general).
Does anyone have any estimates of how much it would cost to construct a 3 story/unit condo in its place? I did some searches and it's giving me estimates of $600-$800 a foot. But that has to be for a SFH. Otherwise, if each unit is 2k square foot, we're looking at $1.6m per unit. You'd have to sell for $2m per unit to make it worth your while.
Any thoughts or can anyone point me in a direction for further research/analysis?