Cost estimators collect and analyze data in order to determine the time, money, materials, and labor required to manufacture a product, construct a building, or provide a service. … They generally specialize in a particular product or industry.
An average commercial steel building costs between $25 and $35 per square foot, including building package (I-Beams, purlins, girts etc.), delivery, foundation and the cost of construction.
Since many retail & commercial buildings require additional finishing like insulation or façade customization, the cost may rise to $45 or $55 per square foot (SF).
Commercial Building Construction Cost (per sq ft)
|Construction Method||Material Cost||Labor Cost||Total Cost|
|Windows, doors etc.||10-30%|
|Foundation||$5-10 / sq ft|
|Construction||$5-10 / sq ft|
Comparing the figures in the cities such as New York, Washington, Boston, Philadelphia, and Raleigh Durham, we have developed the average construction cost estimates per square foot in Eastern U.S. On the high end, the average construction costs of a single-story commercial building are $361 per square foot, while it is $301 per square foot on the low end. The average costs range between $599 on the low end and $719 on the high end for the mid-rise office buildings. High-rise buildings are the most expensive, with highs and lows of $827 and $688, respectively.
The neighborhood strip centers average high and low costs of $371 and $309 per square foot. Shopping malls in the Eastern U.S. are also expensive, ranging between $461 on the lower end and $554 on the higher end.
The average cost of a three-star hotel on the lower side is $489, while the cost shoots up to $604 on the higher side. However, the prices of a five-star hotel are almost one and a half times more, with the costs ranging between $677 and $871 per square foot.
The costs range between $317 and $381 on the lower and higher end averages in school constructions.
The average costs in the Western U.S. were the average costs of cities located there. These are Las Vegas, Seattle, Honolulu, Portland, Sacramento, and San Diego.
For single-story commercial buildings, the average cost is $313 on the low end and $378 on the high end. The average prices are $481 on the low end and $607 on the high end for the mid-rise commercial buildings. Finally, the costs of high-rise buildings average $557 on the low end and $730 on the high end.
Neighborhood strip centers in the Western U.S. average highs of $413 and lows of $261, whereas the shopping malls have highs and lows of $575 and $442, respectively.
The cost of three-star and five-star hotels also varies. The three-star hotels have high average costs of $545 and average lows of $402. However, the prices of five-star hotels are a notch higher, with costs ranging between highs and lows of $849 and $577, respectively.
When it comes to school facilities, the costs range between $341 and $417. The construction costs in Honolulu are, however, significantly higher by $10 per square foot.
Due to climate differences, the building costs in the U.S. Midwest vary. However, the expenses are averaged from three cities in the Midwest: Denver, Nashville, and Chicago.
When it comes to a single-story commercial building, the costs average highs of $298 and lows of $237 per square foot. The cost of a mid-rise building averages $454 on highs and $556 on lows. High-rise buildings are a bit expensive, with highs and lows of $689 and $554.
In the Midwest, neighborhood strip centers are cheaper compared to other regions in the U.S. The costs range between lows and highs of $284 and $340, respectively.
When it comes to hotel facilities, the costs of a three-star hotel average between $400 and $533; in contrast, a five-star hotel stands between $537 and $762.
For school buildings, the costs range between $290 and $242.
The average construction costs in Southern US were taken from cities such as Dallas, Orlando, Atlanta, and Miami.
A single-story commercial building in Southern US averages low costs of $238 per square foot and high costs of $286 per square foot. A mid-rise building costs between $569 on the higher side and $474 on the lower side. Building a high-rise commercial building will need more capital as the prices range between $545 and $654 per square foot.
In Southern US, neighborhood strip malls cost between $245 and $294, whereas shopping malls range between $683 and $462.
Hotel facilities differ between three-star and five-star facilities. A three-star hotel ranges between $478 and $371, while a five-star facility costs between $62 and $683.
As for educational facilities, the school buildings cost between lows of $217 and highs of $260.
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