Commercial Real Estate Investing
Market News & Data
General Info
Real Estate Strategies

Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal


Real Estate Classifieds
Reviews & Feedback
Updated over 5 years ago on . Most recent reply

Estimating Rent Per SQFT On Building w/ Open Lot In Back
Hey everybody!
I'm having a hard time finding really good info on this while searching the forums. The deal I am buying is a commercial property. It is a large steel shop with two offices, meaning two businesses could operate out of it. In the back is a shared lot, a little over 21,000 sqft in size. It is fenced in and secure. I ran some comps and believe the building itself can rent for $8 to $10 per sqft now and $12 to $15 per sqft after some renovation. The part I am having problems with is the lot.... how much can the open lot (which is really just fenced in storage) rent for? If a business wants to rent part of the building and needs the lot, would you charge them the same dollar amount per sqft as the building? I imagine it would be less... but how much?
Any advice is appreciated! Thank you!