A quick cost estimate calculated by multiplying the building size by a historical cost per square foot.
A square foot estimate is a cost projection based on historical cost data expressed as a price per square foot of building area. It is quick to prepare and useful for early feasibility comparisons but assumes the proposed building is similar to historical comparables. Accuracy depends on the quality of cost data and the applicability of the comparables.
Using a square foot estimate of $225 per square foot, a 10,000 SF office building would cost approximately $2.25M to build.
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