Expanding Strip mall

[Laxman Molugu]

Hello RE gurus,

I have a small strip mall with 3 stores with 4000 sft on 2.5 Acre land with 25 parking spots, I am planning to add more stores (4 more stores with 6000 sqft ), I had discussed with the town mayor and he is in full support on this project as their town planner thinks the lot is underutilized. Also, we did some analysis on the market, looks like there is a good demand for the location.

I am looking for some help, where to start from here? what kind of structure recommended for better pricing(wood/masonry/metal), any recommendation for Architects/Engineer for the planning for getting township approvals. And the most important what is the price range for sqft?

Location is Sussex County, Northern NJ

Thanks,

Laxman

[Barry Ruby]

@Jim Flynn in addition to pricing, I suggest that you consider master planning the site.

Retail-zoned property typically allows a 3:1 ratio of land to building. A 2.5-acre site under this ratio will support 27,225 square feet of building area.

Master planning the site to reflect the maximum rental space and adding the 6,000 square feet you intend to build will bring the greatest value to the property.

Let me know if you have any questions or if I can help you with your planning efforts.