Supermarket - Commercial Construction Costs Per Square Foot (2024)

FAQs

Supermarket - Commercial Construction Costs Per Square Foot? ›

In the case of commercial construction like a Supermarket or a Mall with high-end finishes, the cost is $371 while it is $309 for low-end finishes. If you are constructing a regional Mall; an amount of 554 is the cost per sq. ft. in case of a top-end construction and $461 if the construction is of a lower grade.

Building a single-story commercial office building will cost an average of $238–$286 per square foot. A mid-rise building costs $569 on the high end and $474 on the low end to construct. Building a high-rise will cost a high between $545–$654 per square foot on the low end.

The average commercial construction cost in the United States is around $490 per square foot. However, the price can range from as little as $70 to over $1,000 depending on the building type and location.

Foundation and Materials

When it comes to commercial construction, one of the most expensive items will be your foundation. Because commercial buildings can be very large, the amount of concrete, rebar, and other structural materials needed is large.

The average size of buildings constructed before 1960 (26% of the commercial building stock) is 12,000 square feet; buildings constructed between 1960 and 1999 (55%) average 16,300 square feet; and buildings constructed in the 2000s (18%) average 19,000 square feet.

How much office space for that? The general rule of thumb is to allow anywhere between 125 and 225 usable square feet of office space per person. This of course, depends upon the type and style of the business and the workspace layout.

In February 2023, most pundits believe the construction materials cost will continue to fluctuate. The consensus is that the cost of most materials will not return to pre-pandemic levels this year, though they should come down or at least not increase as dramatically as they have been.

On average, building a custom home in California will cost $500 or more per square foot, according to Aballi — while building a tract home in California will cost $300 to $350 per square foot, according to Laniado.

Warehouse cost by size and square feet

The average costs of building a warehouse are $20 per square foot for the shell building. For small warehouses of 40 by 60 ft, the prices can be as low as $150000. However, for big warehouses of about 50000 square feet, the prices shoot up to $3,125,000.

What is a good profit margin for commercial construction? ›

Understanding how to calculate commercial profit margins helps the contractor ensure that they will make a profit after covering all the project costs. The ideal profit margin target is 8% to 15%. Profits do not always guarantee a higher salary for the contractor.

The average net profit margin for construction businesses ranges from just 3-7 percent, according to research from IBIS World. In order to make a profit, construction businesses need to account for all their costs — including labor, materials, and overhead.

The most profitable type of construction business involves manufacturing, as it targets the entire construction industry. These include cement blocks, ceramics, and fly ash bricks.

Multiply the direct labor hourly rate by the time required to complete assembly to get your total labor costs. Calculate material costs separately and add this to the total labor cost to get your total direct costs. Next, divide the total labor cost by the square footage to get the labor cost per square foot.

The most common estimate is the one for bidding. These estimates must have a high level of detail and accuracy. They determine not only who will get the project but also whether that company will turn a profit at the end. You will also usually include prices from subcontractors.

There are four primary methods used to estimate construction costs. Those methods are known as Project Comparison Estimating or Parametric Cost Estimating, Area & Volume Estimating, Assembly & System Estimating, and Unit Price & Schedule Estimating.

Dive Brief: The value of commercial and multifamily construction starts rose 24% in the first half of 2022 compared to the same period last year in the country's top 20 metropolitan areas, according to Dodge Construction Network. The top three markets are New York City, Dallas and Washington, D.C.

Costs in Three Cities

The average price per floor for Chicago is about $6.2 million; for Shanghai it's about $3.7 million per floor. For New York, on average, it costs about $15 million per floor.

The average cost to build a house is about $300,000, not including the cost of land. With housing trends ranging from upcycled shipping containers and self-sustaining homes to sophisticated smart houses with luxurious tubs, it's no surprise that new builds range from $30,000 to several million.