PURCHASE LAND AND BUILD AN INDUSTRIAL WAREHOUSE
Approximate Total Cost to build a 20,000 square foot
industrial building in Las Vegas:
- 20,000 square foot concrete tilt-up building
- 1,000 square feet of office
space
- 19,000 square feet of warehouse space
- 24 foot clear height
- 8 grade level roll-up doors
- Building Coverage Ratio: 35%
Disclaimer: Construction costs and land
prices for industrial buildings in Las Vegas are subject to
rapid change. Rely only upon written bids from licensed general contractors.
Loan terms vary widely depending upon the terms of the loan and borrower's credit
rating. The
following numbers are supplied as general information only.
Vacant
Industrial Land COMPS
|
Nearest Cross Streets |
Sub-Market |
Acres |
Sold Price |
Sold Price Per Sq Ft |
Sold Date |
Assessor Parcel # |
| Decatur and Post |
SW |
2.6 |
$600,000 |
$5.30 |
3/2012 |
162-31-401-002 |
| Decatur and Teco |
SW |
5.63 |
$1,100,000 |
$4.49 |
12/2011 |
162-31-401-034 |
| Craig and Donovan |
NLV |
8.44 |
$1,524,421 |
$4.15 |
1//2012 |
140-06-110-018 |
| Losee and
Lone Mountain |
NLV |
4.2 |
$850,000 |
$4.65 |
3/2011 |
124-36-401-006 |
| Warm Springs and
Eastgate |
H |
8.56 |
$1,600,000 |
$4.29 |
11//2011 |
178-11-115-011 |
Submarket abbreviations: SW=Southwest, NLV=North Las Vegas, AIR=Airport,
ELV=East Las Vegas, C=Central, H = Henderson
New Building Development
Costs
|
20,000 Square Foot Industrial Building |
|
|
|
Project Cost Summary |
Square Feet or Lineal Feet |
Cost Per Sq Ft |
Total Cost |
|
Land Cost (35% Bldg
Coverage) |
57,143 |
$4.50 |
$257,144 |
|
|
|
|
|
|
Off-site Cost (Per
Lineal Foot of Street Frontage) |
450 |
$275.00 |
$123,750 |
|
|
|
|
|
|
On-Site Cost (Per
Square Foot of Land) |
57,143 |
$4.00 |
$228,572 |
|
|
|
|
|
|
Building Cost (Per Square Foot of Building) |
|
|
|
|
Shell: Concrete
Tilt-Up |
20,000 |
$55.00 |
$1,100,000 |
|
Office Build-out |
1,000 |
$50.00 |
$50,000 |
|
Warehouse Build-out |
19,000 |
$4.00 |
$76,000 |
|
Total Building Cost |
|
|
$1,226,000 |
|
|
|
|
|
|
Soft Cost (Per
Square Foot of Building) |
20,000 |
$12.00 |
$240,000 |
|
|
|
|
|
|
Total Project Cost
(Per Sq Ft of Bldg) |
20,000 |
$103.77 |
$2,075,466 |
Financing for 20,000
square foot Owner/User Industrial property in Las Vegas
| Construction Loan |
|
| Interest Rate |
6% Interest Only (Prime plus 250 basis
points) |
| Permanent Loan |
|
| Loan Balance |
Up to 75% LTV |
| Interest Rate - 7 Yr Fixed |
6% (10 Year T Note plus 400
Basis Points) |
| Transaction Costs |
1.5% - 2% of Loan Amount |
| Loan Term |
7 Years |
| Amortization Period |
Up To 30 Years |
| Recourse |
Yes |
|
