There’s a lot that goes into a commercial renovation — meaning the build-out costs aren’t always straightforward. Today, we’re going to breakdown the cost of a build-out. To get started, we’ll need to figure out the answers to a couple questions.
No two spaces are created quite the same. A corporate office is a more straightforward set up than something like a restaurant than needs a commercial kitchen. A professional office is generally $75–$100 per foot, while a restaurant would be more expensive for the same size building. That’s because store fronts and kitchen work tend to cost more.
A typical professional office needs tables, computers, lights, and more. When our team goes to work on spaces like this, we’re going in to put in desks, paint walls, and do some ceiling and light work. Overall, parking structures and shopping centers tend to be on the lower cost end, while hotels, doctor’s offices, and health care facilities tend to be more expensive.
(Curious how this cost breakdown compares to major cities? You can find the stats here.)
Much like everything else, the cost of construction material and labor has been on the rise. According to CXRE and a report from accounting services company Deloitte, this was an issue even before the pandemic reached the US due to, “increasing project complexity, overseas competition, labor shortages, and supply chain complications as the driving factor in these cost increases.”
So if you’re looking to do a build-out in the near future, you’re going to have to anticipate extra costs from the rise in material prices and labor expenses.
Another thing to consider: costs can vary by season. For commercial renovation, weather can affect the cost of fuel, transportation, and general material. And seasonal weather changes also impact labor accessibility. Summer is typically the busiest time of year of construction, while winter tends to slow things down.
A high-end office space will come with a larger price tag than a bare bones office setup. The quality of the interior finishes being used affects the cost of a project. For example, high-quality or exotic woods, marble or stone countertops, or upscale doors will all add a competitive edge to your space but for a larger cost.
A basic office space can cost $28 to $30 per square foot for furniture while an executive suite can run you up to $40 to $80 a square foot. These two spaces will end up looking and costing far differently.
Hard costs vs. soft costs are other things you should consider when looking at a space for commercial renovation. Hard costs being what sticks around in the building after the work is done like paint and electrical work, while soft costs consist of things like building permits or legal fees.
What does the space already contain (or what doesn’t it contain)? A blank slate allows for easy improvement build-outs, but usually at a larger cost. While a second-generation workspace may need mostly aesthetic or minor updates.
With Heitmeyer Building & Design, we specialize in extreme preparation, tight scheduling and condensed activity in time frames that provide minimal interruption to your business.
We’ll work with you to create an initial budget with a goal to achieve your objectives through consulted design and valuable engineering. We offer one communication source, from client to construction crew, to remove any communication disruptions to our process.
Ready to add your business? Contact us at email@example.com or reach us at (614) 837-1301. Or go to our Contact page to fill out a quick survey.