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Updated over 6 years ago,

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Pedro NA
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Medical Condo Space and the Common Area

Pedro NA
Posted

I've got a question for some of the Medical Condo space gurus out there. When buying/selling medical condo space, do you also include the common area space as part of the square footage that will be used to determine price? For example, if a buyer is offering $200 per square foot and the medical condo is 2000sqft (as detailed on the city records) and there is a 13% ownership in "common elements/common surplus/shares in common expenses"... is the purchase price based on the 2000sqft and the common space is just included as part of the deal or is it based off of the 2000sqft plus the 13% common space? Any input would be great.. thanks!