I have seen for larger projects developers or flippers bus in crews from less busy states to get high quality contractors looking for work.Larger flippers or ground up development companies can build for say 85 per sq ft where smaller investor with 1 property might be 120 a foot.

the extension is no more than a foot and the external wall is one of the simplest things to do.

@Dillon McGough i spent the last couple of days cold coming, it take preparation and practice while you will have people been rude on the phone or just unfriendly.But also some that willing to consider selling, if you get them at the right time then BINGO.

Does anyone know what is the average price per square foot for commercial (office, mixed use, retail) space is in the Bantam, CT area. 

B+ areas you're about maxed out at a dollar a foot here 

If you can convert this property into two 1250 square foot units that would be the way to go.

@Dan DeppenThe reasoning for the heavy handed regulation of consumer products and services is that consumers are not on equal footing with businesses as to experience, knowledge and expertise, may not have access to legal advice, are unsophisticated, and therefore in need of governmental consumer protection.

., that's a bigger problem, but some people charge by the square foot.

Do you have any information regarding cap rates or retail price per square foot in the area specifically upper cape?

It is (feels like)  a short term option to invest low amount of money and get a foot in the "real estate" field (sort of).