How To Get Ballpark Value On Used Commercial Property

Scenario: there's a property listing of interest to me; it is a former manufacturing facility that shut down several years ago. The primary appeal is the run down 40,000 sqft building is on a still decent six inch concrete slab, which would work for my needs. Existing building would be torn down, and something new built on the slab.

Location is suburban Chicago.

How can I determine a ballpark value of this slab, versus pouring a new one?

There is a lot more on why this property would work; I just need a way to place a value on this slab.

TIA!

 

Not knowing truly what you have other than your 6" slab mention....

So many other variables to take into consideration...

6" slab $6-$8 foot x 40,000

$250K - $325K range

I'm sure some of the associated costs arelocation specific...

Concrete guys should be along shortly.....

 

https://www.rsmeans.com
They used to have a free ballpark estimator for any zip code. Haven't been in a while, hope this helps.

 

750 yards of concrete about 120k
Finish and form 40 k
Just a guesstimate

 

You would need to consider the existing foundations and proposed new loads to determine the cost of selective demo should you need to beef up the footings to handle the reactions called for under current codes. If the building is pre-engineered, have you considered re-skinning versus demo?

 

^^^this^^^

Some of the variables which can quickly escalate costs.

 

Suburban Chicago is IL....where i think they are about to tax the air you breathe...good luck. Its too much money even if its free...

 

Suburban Chicago varies a little from Englewood to Lake Forest....

The slab on grade without utility stub outs is worth about $250/CY as a planning level number under the assumption it was constructed correctly. Without information on footings etc., you’re really limited to what can be constructed as a manufactured building on top.

If the slab is cracked or shows signs of heaving or settlement it is basically worth nothing and will only have a demo and removal cost.

 

Also keep in mind tha if the existing building is not sprinklered you would be required to protect the new building. $2 per square foot for a rough price inside. Underground prices vary dramatically by jurisdictions due to differing requirements. I would double the nterior pricing for just a guess.

 

In addition to the above, depending on how critical it is, you may want to check the thickness of the slab throughout the building. They make non-destructive testers, so you do not have to take core samples. It's not unheard of to find that corners were cut on an older factory slab, and that the thickness on the drawings is not uniform throughout the facility. Of course, I'm sure something like that would never happen in the Chicago area.