Here's a Quick Way to Estimate Construction Costs for Commercial Real Estate

Looking for a way to get an idea of the cost to build a new shopping centre? How about an apartment building? A retail store? Try www.rsmeans.com

Their Quick Cost Estimator is free to use, and provides a really good idea of the cost of construction for most projects. While the detailed reports (paid) are far more detailed, the free estimates are pretty good. I've used this site a number of times to come up with an estimate of replacement cost for properties we've had listed for sale. It's pretty powerful stuff to be able to say that the institutional property you have listed for $8.3M would cost over $18M to replace. What a bargain!

The site produces a cost estimate based on your location (major centres in Canada and the US), so it takes into account local labour costs, and provides a high, medium, and low range of estimates.

Some things to keep in mind:
1. The Quick Cost Estimator does not take into account the cost of the underlying land;
2. It does not include an estimate of brokerage or legal fees or most other soft costs for that matter;
3. It ignores the cost of financing.

This is a great little resource for getting started on your journey toward building your commercial real estate empire. Give it a try and let me know what you think of it.

0 comments:

Blog Widget by LinkWithin

Recent Comments

Become a Facebook Fan

Followers

Blog Directories We're On

Must Read Books

  • The Millionaire Real Estate Agent by Gary Keller
  • The Four Hour Work Week by Timothy Ferris
  • Rich Dad, Poor Dad by Robert Kiyosaki
  • Daddy Needs a Drink by Robert Wilder

Live Traffic Feed

Disclaimers

No part of this website is intended to solicit those already under contract.

Legal, accounting and environmental advice should be sought prior to making any form of financial or other commitments.
Opinions expressed herein are those of the authors and may not reflect those of the Brokerage.

REALTOR® Trademark owned or controlled by the Canadian Real Estate Association. Used under license.

Those of you with an overwhelming fear of the unknown will be gratified to learn that there is no hidden message revealed by reading this warning backwards, so just ignore that Alert Notice from Microsoft: However, by pouring a complete circle of salt around yourself and your computer you can ensure that no harm befalls you and your children.
Powered by Blogger, trillions of electrons spinning out of control, and an insatiable appetite to learn.

  © Blogger templates The Professional Template by Ourblogtemplates.com 2008

Back to TOP