This is actually a question about commercial real estate, but I don't know
where to post it other than here.
I have been looking to purchase a small (2000-4000 sq. ft.) commercial
building for a business than has outgrown my home office. I have been
looking in a depressed neighborhood of Los Angeles County at buildings in
good shape as well as fixers. Today, the idea of buying a vacant lot and
building on it popped into my mind. All I need is 3000 sq ft. of open
unfinished warehouse space, with 1000 sq. ft. divided into three offices.
Not even fancy offices. Is there a rule of thumb for comparing the price of
new construction with an existing building?