What Is An Average Commercial Building Cost Per Square Foot

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A commercial building design cost ​$91​/square-foot | Chegg.com
Source: www.chegg.com

A commercial building design cost ​$91​/square-foot | Chegg.com.

Building Costs Per Square Foot in the United States of America (USA) and  Canada - Estimation QS
Source: estimationqs.com

Building Costs Per Square Foot in the United States of America (USA) and Canada - Estimation QS.

CBECS 2012: Building Stock Results
Source: www.eia.gov

CBECS 2012: Building Stock Results.


Commercial Daycare Building Construction: REAL COST DATA

We pull back the curtain and show you our REAL COSTS for over 100 commercial construction projects.

For examples of how to calculate each cost, check out the full article at www.SaveOnBuilding.com/estimate-cost-of-commercial-construction

How to estimate the cost of commercial construction.

The first question everyone has when they start planning a new childcare building or remodeling project is, "How much is it going to cost?".

This is a very difficult question to answer, even for people in the real estate and construction industry. Land costs, development fees, and construction costs are always moving targets and the cost to develop the land and build a building changes on a moment-by-moment basis.

Construction costs vary widely because they are dependent on so many economic drivers; the local demand for services, the local cost for skilled labor, and material costs vary from day to day, depending on the cost to manufacture, ship and tax the product.

Even after you have hired a general contractor to build your project at an agreed to price, more variables still occur during construction. It may rain so much at the beginning of your project that you agree to have dry soil brought in so that the project isn’t delayed for too long. There may be large rock boulders underground exactly where an underground pipe was to be installed. A permit official may change his mind and require something extra that wasn’t in the original plans. You may walk through the building after it’s framed up and realize that you need extra cabinets for storage. The list of changes that could occur during construction are exhaustive.

The best way to plan the future is to look at what’s happened in the past. Make the best educated adjustments possible, and then move forward with a plan.

Historical Cost Data
Our historical data has been accumulated over the past seven years and includes over one hundred commercial childcare construction projects. The project’s range from $2M - $8.3M and are all one or two-story commercial childcare buildings.
There’s a big cost spread when you are designing and building a commercial building. You can be in a rural location and go very minimalistic and conservative with your spending or you can be in the heart of a large metropolitan area and pull out all the stops and design the perfect commercial building of your dreams.

Land Costs
When somebody talks about “Land Costs”, shown in the green section of the above chart, they’re talking about the actual cost of the land, including the closing attorney fees and realtor fees. In our data, realtor fees are assumed to be 6% across the board.

Hard Costs
Hard costs are items that you have a tangible item that you have as a result of the money spent. It is often referred to as the “brick and mortar cost” and includes all of the physical construction that occurs on your land.
Hard costs can be broken down into two divisions; Site Costs and Building Costs.

Site Costs
Include retaining walls, parking lots, sidewalks, drainage, landscaping, clearing/grading of the land. It includes demolition of any existing elements, like an existing building, existing trees, or an existing parking lot or utilities as well.

Building Costs
Include the four outside walls the enclose your building and everything inside of it, from the foundation all the way up to the top of the roof. We break the building costs down to the size of buildings in our averages as well as the average cost per square foot. This allows you to interpolate the data.

Soft Costs
Soft costs are all of the costs involved in fees and services that are required during the process of designing and building your project, but do not result in a tangible item. Soft costs are monies spent in exchange for knowledge, time, and effort provided by service providers.

Financing Costs
Financing costs are your bank or lender fees. The lender applies a percentage of overhead and interest fees to the loan amount that they are providing you. The average loan amounts shown below include the cost to purchase the land, the site construction costs, the building construction costs, permitting and utility fees and everybody you had to hire to make the project happen (soft costs).

Owner Cash Needed
Whenever you take out a loan you have to put money down. Generally, with a conventional commercial or SBA loan, a 20% down payment is required. And in addition to the down payment, there are a few miscellaneous fees you may decide to cover out of your own pocket as well. These usually happen at the very beginning or the very end of a project.

Budgeting your project is all about crunching the numbers. When you have this much historical data at your fingertips, you’ll feel confident knowing that your budget is thorough and includes all of the items you’ll need.

If you need more help walking through the steps of your project, reach out to Rebecca Calbert at [email protected]

CBECS 2012: Building Stock Results

Cost per Square Foot of Commercial Construction by Region - EVstudio
Source: evstudio.com

Cost per Square Foot of Commercial Construction by Region - EVstudio.

2022 Guide to US Building Commercial Construction Cost per Square Foot
Source: www.levelset.com

2022 Guide to US Building Commercial Construction Cost per Square Foot.

Concrete Buildings :: Commercial Construction Concrete Buildings, Design  for Tilt Up and ICF (Insulated Concrete Forms) ::
Source: www.concretebuildings.org

Concrete Buildings :: Commercial Construction Concrete Buildings, Design for Tilt Up and ICF (Insulated Concrete Forms) ::.

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