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  • Old building Conversion costs?

    I am looking at a 40,000 sq ft warehouse to convert in to self storage and I want to know some cost estimates to build. I'm trying to find the numbers to make the deal work.

  • #2
    Re: Old building Conversion costs?

    Hi Bsba,

    For feasibility budgeting, you could figure steel partition system installed would run around $4.5 to $5.5 per sq ft of the entire building. These ballparks assume about 100sq ft average unit at the low end, or 70sq ft average on the high end.

    Net rentable space will be about 15-20% less than the overall building, due to halls.

    We have a calculator tool on our web site specific to conversions that can help you work some ballpark numbers: check it out here: http://www.trachte.com/resources/con...calculator.php

    Thanks and good luck with your project.

    Steve Hajewski
    Trachte Building Systems
    800 356-5824
    www.trachte.com

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    • #3
      Re: Old building Conversion costs?

      Bsba2011:

      One critical factor to keep in mind as you layout the conversion is the travel distance for the customers from the unloading area to the farthest unit. Try to keep it less than 150-175 feet. Even discounting distant units many times will not be enough to get those units leased-up. Also, as Steve can tell you, if you have sufficient ceiling height, you may be able to mezzanine and double your density - if the market can support it.

      MisterJim444
      Learning Never Ends, But Will Time?

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      • #4
        Re: Old building Conversion costs?

        Good point Jim:

        If local demand warrants and there's at least 16' feet clearance, a second floor is an option. A few factors to consider:
        - This may mean that you need additional sprinklers to cover the first level
        - You should plan on an elevator for upper level access ($$$)
        - You'll lose a little more space to stairs and elevators
        - Cost psf of the conversion system will increase, since the first level would need load bearing walls, and the second floor will need a concrete floor poured. Steel decking can also be used on the second floor, but we advise concrete is a better option as better protects lower level contents from anything that a client on the second floor spills in their unit.

        We have had clients build conversions where they duild the second floor with load bearing walls and then add the second floor as a later phase when needed.

        Steve

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        • #5
          Re: Old building Conversion costs?

          I really appreciate it. If you have any other ideas on costs just let me know.

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          • #6
            Re: Old building Conversion costs?

            Thanks great information!

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            • #7
              Re: Old building Conversion costs?

              One thing that's gotten a lot of folks in this area when converting existing space is that new laws since the building was constructed come into effect.
              One costly problem was a firewall requirement, another were changes due to Americans with DIsabilties Act , another sprinklers had to be upgraded and the biggest was what are called "Impact Fees" that must be paid to the local government. We've had at least one 90K sqft Self-storage facility not built because the bribe, excuse me "Impact Fee" to the county was over 100 thousand dollars.
              Karen and Denny Beall
              Diamond Self Storage
              Nature Coast of Florida
              DiamondSelfStorage.com

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