How to scope dev costs on a historic theater redevelopment

[Christopher Carson]

Hey all,

Exploring a pretty ambitious idea for the lack of experience I’ve got tbh.

Looking at an old theater that is prime to be redeveloped. I realize there’s all sorts of regulatory hurdles with that (not wanting to discuss in this post, as I realize it’s a beast on its own), and am asking for guidance specifically on how you’d scope out the development costs.

I’ve gotten the ok from the broker to access the building to begin some diligence.

Wondering what some realistic next steps should be in projecting the dev costs, and ARV.

appreciate ANY insight around this and thanks for taking a look.