How 10,000 sq. feet building has only 7,000 sq. feet?
John Vanhara Recently I came across interesting deal on West Sahara Ave. It is very close to the Strip, good location on financial corridor in Las Vegas. The office building is 10,000 sq. feet listed for $2,500,000.
My ideas is to use the building for executive suites leasing and this building is basically ready. Upstairs is divided to smaller suites ranging from 183-300 sq. feet. But the catch is when I counted together all usable sq. feet what I can rent I got only approx. 7,000 sq. feet. My question is will clients be willing to pay rent for all the extra space around their offices? The difference is 30%! That’s really a lot to have 30% of the building in extra space and I don’t think that tenants will be thrilled to be charged for all the space. The point is that when you see the size of office building you have think in terms what is the really usable space for renting. Or at least proportion of usable space to total space. Some buildings are planned better other worse.