Cost to build New Apartment Complex?

[Buck Dabill]

So, I have been looking at buying this old hotel on 1.06 acres, which has not been used for 30 years, and turning it into apartments. But, the remodel numbers are coming in at 900k for 12,445.0 sq ft of remodeled space.  The old hotel is all on one level. It has been suggested it may be Cheaper to build new apartments.  What would be the most efficient way to find the cost to build new apartments in eastern Montana? Is there a sq ft number that would give me a good idea to start off with? Any advice would be deeply appreciated, Even other ideas of what to do with the property.  We will most likely purchase it for 30k give or take.