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Rent Question - Maybe I'm not crazy

T

ThinkinTink

New member
Ok so we found a great location and called the guy asking him about rent and nearly had a heart attack when he told us the number.

Is there anyone willing to share how much they pay a month for rent and how big their facility is?
 
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bjack:
$3450 for 3400 sq ft. Or $11 per sq ft.
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$3450 per month for 3400 square feet is actually $12.17 per foot annually. I only bring this up so that if your landlord promised you $11/foot you can rectify the discrepancy. The difference may be taxes or cam charges but these commonly are a higher price per foot than the difference.
 
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Dang itzzapizza you are on the high side. Where are you located? What type of volume are you doing if I may ask? I am guessing your lease is a triple net and you have a cam/tax fee included in this?
 
Welcome to Northern NJ. I just looked @ space that Starbucks gave up. Ready for this , $6000.00 per month for 1400sq ft.
 
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5500 sq feet, $2500 plus CAM capped at $500. It’s just been a bar for the past year I’ve been there; I’m putting in a kitchen now.
 
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The rates in my city range from $14/sqft to $32/sqft plus an average of $6/sgft for CAM.
 
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You’re going to find an extremely wide variance on this, even within one city.

I pay $24.00/sf and $4.75 CAM at one location and $26.00/sf and $10.50 CAM in the other.

Both stores are in high income, high home value and high property tax areas.
 
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$2700 per month 1600 sq feet.
I found that when some people look at rent they confuse cost with value. In our town there were places where the rent was a lot cheaper, but: we are beside a high school and an adult learning center ; behind us is a government office building, on the other side is an apartment building and we are on one of the busiest corners in the city. As well as cost per square foot, look at what else you are getting for your rent.
 
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I agree with the you get what you pay for theory. I live in a town where you can find locations as low as $9 all the way up too about $22 depending on the age and location. I think I have found a little lost corner in a section of town that should work well. It is a little on the outside but there are a couple of larger business parks in the area including one of the cities largest employers with over 2000 employees across the street. The closest competition is about 2-3 miles away and not the direction that a lot of these people drive after work. I am in a metro area of about 100,000 people with the majority on this side of town being middle to higher income white collar type employment base. Not too mention I have a three smaller towns/suburbs if you want to call them that literally across the street the other direction with a population of about 15000 additional people and only one competitor. Though be it a decent one…actually one of only three operations that I consider to be my competition at all. I do wish that the local real estate peeps would start to realize that a little bit of room to work with on these rates would be nice in this economy. 😃
 
geez this place was going for around 28,000 a month!!! 5400 sq ft. This place was located in a pretty good location (in a business town, around 40,000 people pass by daily, next to a mall and 5 plus other shopping centers close by, but still 28000???

that is crazy… i cant see spending that much a month for a location!
 
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ThinkinTink:
geez this place was going for around 28,000 a month!!! 5400 sq ft. This place was located in a pretty good location (in a business town, around 40,000 people pass by daily, next to a mall and 5 plus other shopping centers close by, but still 28000???

that is crazy… i cant see spending that much a month for a location!
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40,000 pass by on foot, or in a car?
 
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I think a better question is to ask what your rent is as a % of sales…its the only way to make this somewhat meaningful…you are looking for < 5%…more than 10% is too much
 
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