Anyone know what are the typical costs of new construction in New York? I am thinking about extending an existing grocery store to the corner. The vacant lot right now is 2700 sq ft (45x60). My architect is estimating $330k. Does this sound right? All I need is a “shell”, the current grocery store owner is willing to invest whatever he needs into it as long as it has 4 walls and a roof. Where can I find this kind of info?
Really depends what you are doing. One of my clients is building a 57,000 sqft market here in california, construction / material costs have gone done, but the equipment (cold storage, etc.) hasn’t moved. We’re having a big problem with financing (under appraisal) right now…
Shell gas station? You need to know the cost and fees to branded name like Shell? What about the cost to update your tanks to spec ever so often. You need to go talk to a owner of one.
How big is the structure you are considering? That doesn’t sound too far off depending on the size (and it is NY - don’t get me started on that :banghead). I had a discussion about replacement costs with an insurance guy not long ago and we pegged it someplace between $90 and $100 per sf. That’s typical commercial construction methods for my area (definitely not NY) and no frills and no other site work. Materials were still high then but labor costs were falling pretty quickly given that residential construction had just fallen off the chart. The best idea I have is get a second architect to give you an independent number.