Looking for assistance to analyze a Mixed Commercial building that has three sections and it used to be a bank. It's one building and all is connected. It sat empty and not used for 10 years.
Section One: The bank, long and narrow 30ft ceiling and has a basement.
Section Two: Three story office building and has a basement.
Section Three: three story apartments loft style. Inside need to be totally renovated. It's long, narrow and Empty. The basement made it a three story, it's really 2 story and a basement.
The basements will be used for storage only.
Rental in the area is about $12sf. But the sale price is equivalent to $25sf.
My main question is how much dollars should I offer per square footage if the building was in ok condition? And how much should i offer given the whole building need renovation, some parts more than others?
it's more of a redevelopment project.
I'll pay if need be-
