Commercial for sale
Commonly used for retail and office space, commercial real estate for sale is currently at a premium. Average sale prices for commercial real estate varies more than residential. Prices are dependent on the area, size, location, use, and age of the building. All of these factors will determine a fair market dollar per square foot for the commercial real estate space.
commercial for Lease
While commercial real estate for sale is tight, there are more options for commercial leased space. Average lease space goes for anywhere from $18 a square foot to $20 a square foot depending on location, size, and age of the building. Newer construction and premium lease space can run as high as $35 a square foot. These prices would be plus triple net, which consists of property taxes, utilities, insurance, and maintenance.
Industrial land sells on average $1.1 an acre to $1.3 an acre. Unlike traditional real estate sales, the larger the parcel, typically, the lower the price as demand for large parcels are lower. While the industrial land base supply remains low making it difficult for new future commercial construction.