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Old 04-04-2008, 01:34 AM
 
1 posts, read 20,647 times
Reputation: 15
Default How to develop a small strip mall

I'm looking to get some advice on possibly building a small strip mall. A purchase is a possibility too. I'd like to occupy a business in one unit and rent the others out. Would like one those mini strips of 3-5 units. Prefer 5. Has anyone ever built one or know someone that has? Also, any owners of strip malls out there? Looking to chat with some folks on this topic.

Thanks!

JK
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Old 04-04-2008, 11:49 AM
 
Location: Mountain Ranch, CA The heart of Calaveras County
5,930 posts, read 10,476,414 times
Reputation: 4564
I did a few of those in my early real estate career. Depending on the jurisdiction of where you want to build, it can be expensive and time consuming to get through the entire process. You may want to look seriously at an existing building that suits your business interest.
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Old 04-04-2008, 10:01 PM
 
Location: NorCal, baby!
85 posts, read 182,811 times
Reputation: 66
Quote:
Originally Posted by speedyrx View Post
I'm looking to get some advice on possibly building a small strip mall. A purchase is a possibility too. I'd like to occupy a business in one unit and rent the others out. Would like one those mini strips of 3-5 units. Prefer 5. Has anyone ever built one or know someone that has? Also, any owners of strip malls out there? Looking to chat with some folks on this topic.

Thanks!

JK

I am sorry, but this sound like a retarded and belated April 1st joke. Usually (like 99.897% of the time) when people go on a public forum to ask how to build a strip mall, they are not even close to be in a position to build one. Now, go on and grow up and get a real job.
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Old 04-05-2008, 12:56 PM
 
Location: Mountain Ranch, CA The heart of Calaveras County
5,930 posts, read 10,476,414 times
Reputation: 4564
Quote:
Originally Posted by Mika>Kimi View Post
I am sorry, but this sound like a retarded and belated April 1st joke. Usually (like 99.897% of the time) when people go on a public forum to ask how to build a strip mall, they are not even close to be in a position to build one. Now, go on and grow up and get a real job.
Nice flame.
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Old 11-10-2008, 10:38 AM
 
1 posts, read 20,392 times
Reputation: 16
You have to start somewhere and no question is stupid. An ignorant mind will NEVER prevail! So Mika>Kimi shut your dumb a** mouth!
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Old 11-10-2008, 10:45 AM
 
1,078 posts, read 2,417,221 times
Reputation: 623
Depends on the area.
Land(in general) will cost you anywhere from $100 per sq ft on up. Construction costs will start at $135 per sq ft. unless you are intimate with a contractor or know a contractor who doesn't mind working on the cheap. Expect to pay closer to $190 unless you are experienced and know what you are doing.
You are probably better off buying an existing mall and occupying one of the units. Expect to pay $200 per sq ft on up. Decent properties can be found for $250 to $300 per sq ft.
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Old 11-10-2008, 08:21 PM
 
Location: Placer County, Ca
111 posts, read 270,554 times
Reputation: 42
I would look at purchasing an already exsisting strip mall. The costs and headaches of building would be more than you could probably stand. I would suggest making an appointment with your local Economic Development Department, Small Business Advisory, or Small Business Administration counsler. Start building your team of advisors, finanacial, legal, contractors, real estate to name a few. If you really want to build start talking with your local City or County Planning Department. We all got a dream, just make sure you have at least 100% more capital than you calculate you will need. Most small business fail due to lack of capital.
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Old 11-11-2008, 07:45 PM
 
6 posts, read 41,724 times
Reputation: 21
They are deals to be had in the current market, I suggest going to websites of Commercial Real Estate Brokers like:
CBRE
Terranomics
BuzzOates
Colliers

You can get a good idea what asking prices are for properties in addition to what $psf is being asked to actually lease it. Key word here is "asking price"...again with current market conditions its definitely a buyers market for both potential landlords and tenants.
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