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Your client has hired you to assess the financial feasibility of developing a commercially- zoned parcel of land into an office building. Specifics about the property include: • The total area of the subject property is 2.9 acres. • • • • • • The zoning ordinance for the local county specifies a maximum FAR = 0.4 for this parcel of land. Hint: Use this to determine the maximum building area (SF) that the site can accommodate. The average commercial retail rent in this area is $38 per building square foot. Sanitary sewer and water service is not presently available to the parcel. Costs to extend public utility lines to the parcel are estimated as follows: о Sanitary sewer extension: $27,000 о Waterline extension: $42,500 In order to accommodate new traffic that the development will generate, a new turn lane is required. The cost to construct the turn lane is estimated to be $90,000. Site development costs (grading, curb & gutter, etc.) are estimated to be $200,000 per acre. The cost of constructing the commercial building is estimated to be $200 per building square foot. • Architecture fees are estimated to be $5 per building square foot. • Engineering fees are estimated to be $2 per square foot of site area. • Building Plan Review fees are expected to be $2,500. Permitting Fees are expected to be $1.50 per square foot of site area. • Site Plan Review Fees are calculated as $2000 plus $100 per acre. • Your client walks away from deals that generate an annual yield of less than 9.0%.

Your client has hired you to assess the financial feasibility of developing a commercially- zoned parcel of land into an office building. Specifics about the property include: • The total area of the subject property is 2.9 acres. • • • • • • The zoning ordinance for the local county specifies a maximum FAR = 0.4 for this parcel of land. Hint: Use this to determine the maximum building area (SF) that the site can accommodate. The average commercial retail rent in this area is $38 per building square foot. Sanitary sewer and water service is not presently available to the parcel. Costs to extend public utility lines to the parcel are estimated as follows: о Sanitary sewer extension: $27,000 о Waterline extension: $42,500 In order to accommodate new traffic that the development will generate, a new turn lane is required. The cost to construct the turn lane is estimated to be $90,000. Site development costs (grading, curb & gutter, etc.) are estimated to be $200,000 per acre. The cost of constructing the commercial building is estimated to be $200 per building square foot. • Architecture fees are estimated to be $5 per building square foot. • Engineering fees are estimated to be $2 per square foot of site area. • Building Plan Review fees are expected to be $2,500. Permitting Fees are expected to be $1.50 per square foot of site area. • Site Plan Review Fees are calculated as $2000 plus $100 per acre. • Your client walks away from deals that generate an annual yield of less than 9.0%.

Architectural Drafting and Design (MindTap Course List)
Architectural Drafting and Design (MindTap Course List)
7th Edition
ISBN:9781285165738
Author:Alan Jefferis, David A. Madsen, David P. Madsen
Publisher:Alan Jefferis, David A. Madsen, David P. Madsen
Chapter14: Legal Descriptions And Site Plan Requirements
Section: Chapter Questions
Problem 14.10P
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Your client has hired you to assess the financial feasibility of developing a commercially- zoned parcel of land into an office building. Specifics about the property include: • The total area of the subject property is 2.9 acres. • • • • • • The zoning ordinance for the local county specifies a maximum FAR = 0.4 for this parcel of land. Hint: Use this to determine the maximum building area (SF) that the site can accommodate. The average commercial retail rent in this area is $38 per building square foot. Sanitary sewer and water service is not presently available to the parcel. Costs to extend public utility lines to the parcel are estimated as follows: о Sanitary sewer extension: $27,000 о Waterline extension: $42,500 In order to accommodate new traffic that the development will generate, a new turn lane is required. The cost to construct the turn lane is estimated to be $90,000. Site development costs (grading, curb & gutter, etc.) are estimated to be $200,000 per acre. The cost of constructing the commercial building is estimated to be $200 per building square foot. • Architecture fees are estimated to be $5 per building square foot. • Engineering fees are estimated to be $2 per square foot of site area. • Building Plan Review fees are expected to be $2,500. Permitting Fees are expected to be $1.50 per square foot of site area. • Site Plan Review Fees are calculated as $2000 plus $100 per acre. • Your client walks away from deals that generate an annual yield of less than 9.0%.
Transcribed Image Text:Your client has hired you to assess the financial feasibility of developing a commercially- zoned parcel of land into an office building. Specifics about the property include: • The total area of the subject property is 2.9 acres. • • • • • • The zoning ordinance for the local county specifies a maximum FAR = 0.4 for this parcel of land. Hint: Use this to determine the maximum building area (SF) that the site can accommodate. The average commercial retail rent in this area is $38 per building square foot. Sanitary sewer and water service is not presently available to the parcel. Costs to extend public utility lines to the parcel are estimated as follows: о Sanitary sewer extension: $27,000 о Waterline extension: $42,500 In order to accommodate new traffic that the development will generate, a new turn lane is required. The cost to construct the turn lane is estimated to be $90,000. Site development costs (grading, curb & gutter, etc.) are estimated to be $200,000 per acre. The cost of constructing the commercial building is estimated to be $200 per building square foot. • Architecture fees are estimated to be $5 per building square foot. • Engineering fees are estimated to be $2 per square foot of site area. • Building Plan Review fees are expected to be $2,500. Permitting Fees are expected to be $1.50 per square foot of site area. • Site Plan Review Fees are calculated as $2000 plus $100 per acre. • Your client walks away from deals that generate an annual yield of less than 9.0%.
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