Commercial Property Question

[Golf IV]

Soo looking on the mls I came across the icx. Just wondering if the sq ft charge on a lease for a property listed is per month or per year. For example this one
http://www.icx.ca/PropertyDetails.aspx?vd=&SearchURL=%3fMode%3d0%26Page%3d1%26vs%3d2%26rlt%3d%26cp%3d%26pt%3d164%26mp%3d-1-0-0%26mrt%3d0-0-0%26o%3dA%26of%3d1%26ps%3d6%26db%3d0%26ld%3d0%26mfs%3d%26mxfs%3d%26mls%3d%26mxls%3d%26lsu%3d2%26brd%3d%26lid%3d%26ptgid%3d2%26pro%3d0%26co%3dcalgary%26st%3d%26zip%3d&Mode=0&PropertyID=4768081
since its listed at & $8/sq ft and 3403 sq ft is that $27224/yr so @$2268/month? I can't see it as being $27224/month :eek:

[D. Dub]

per month:D

[Golf IV]

seriously?

[Tik-Tok]

Originally posted by Golf IV
seriously?

Oh yes.

When I was talking to the guys at Mustang Shop, I asked about how the market is affecting their profit... they told me how much product they have to sell just to cover rent in a month, it was obscene.

[Golf IV]

Ya thats what I was thinking. How much damn stuff do you have to sell just to cover rent? Then theres operating costs on top of that. Its rediculous. I have a new found respect for all these businesses!

[D. Dub]

Originally posted by Golf IV
seriously?


No, I was yanking your chain...

Lease rates based on square footage are annual.

[ICED_OUT_RSX]

yeah thats yearly
and there is also a operationg cost on that as well which could be anywhere from 2 - 4 buxs a sqaure foot as well

[eljefe]

Originally posted by ICED_OUT_RSX
yeah thats yearly
and there is also a operationg cost on that as well which could be anywhere from 2 - 4 buxs a sqaure foot as well

Don't know if its the same out there but in Ontario it is plus plus......you have to add a couple bucks a foot in CAM costs plus your realty(property taxes)

for example one of my properties is 4500 square feet , and the occupancy costs are

10.75 /ft2 = 48,375 basic rent
1.50 /ft2 = 6750 CAM(common area maintenance)
4.09/ft2 = 18,405 property tax

So the 10.75 ends up at $16.34 ft2 or 73530 per year ......plus of course 6% GST

[ICED_OUT_RSX]

yeah my taxes are included in the common area cost already

[gamman]

If its retail, it could be CAM - 7psf and tax about 5ish. PLUS RENT.
Depends on the building. If its posh, it will be posh $$.

If its industrial, numbers above would be about right.