What is the general range of cost of a remodeling/renovation?
March 31, 2010 by admin
Filed under Kitchen Ideas
I’m considering buying a commercial property. Downstairs is an antique store, but above is a large open space (2500 sq feet) with a “roughed in” bath and kitchen — VERY roughed. Anyway, I’d like to finish this off and rent it out as an apartment with 1 large bedroom and bath, an open kitchen and a great room. Does anyone have any idea what something like that would cost down south…in a small town area? I’m not asking for an exact quote, but a general price range for something attractive, but not luxurious by any means.
Any ideas?
Let me just add that it’s all brick and mortar.
$250 to $7150.
about 120-250 dollars a foot. some areas more.
edit: i just saw that it is to be brick and mortar… shoot for the moon and disregard the previous numbers.
o.k. my sister just paid $75K to renovate two two bedroom apartments of about 650 square feet each. She redid everything from the kitchen to the floor, the bathroom, the walls, electric, plumbing etc. This is in a town of southern Maine. Also not luxurious but good quality. A neighbor of ours is a contractor and he says he could have done it for $50K. This does not include appliances which they bought separately…
i’ve done quite a few rental re-hab units and up here in ne ohio it should be about 10-15000 for everything…if your rents are about 400-550 a month you should consider it if they are lower you might want to see what your payback(cash on cash) will be. that is how long will it take to pay off the remodeling before you start making profit. should be around three years plus all landlord payed expenses…trash, water&sewer, up-keep etc…