Shop Space Cost

[Walter Cronkat]

I'm finally making the move to get out of my 900 sq ft basement shop and lease a commercial space to be more effecient in my work. I do custom carpentry and millwork. For those of you who also lease or rent a space I'm curious what others around the country/world pay?
I'm in Reno, NV and the going rate is about $1.50 a sq foot. I'm looking at about 1,800 sq ft space, so about $2,700 a month. Its hard to stomach because everyone else I know in the area is paying 30-50% less. Commercial real estate has gone crazy here.

 

[Markot76]

Hi Walter,
I live in northern Italy about 100 km from Milan, in a tourist area overlooking Lake Garda (near Desenzano del Garda).
Rents for commercial premises in the towns bordering the lake are around €10 per square meter (around $1.00 sq ft).
If you move 15/20 km then prices drop to $0.8 sq ft)
The workshop rooms are located outside the tourist area and have a much lower rental price, between $0.25 and $0.40 sq ft

 

[Walter Cronkat]

Thanks for the reply, that sounds fairly cheap to me. Is it cheap for Italians? I do know it can be harder to make money in Italy. Maybe the cost is comparable relative to income there?

 

[Markot76]

In northern Italy the average salary is €1500 (around $1600/1650), which has a significant impact ...

 

[Walter Cronkat]

Wow, I'm guessing thats monthly?

 

[Markot76]

Wow, I'm guessing thats monthly?

yes monthly, average worker/employee salary

 

[Peter Kelly]

I suppose it’s all relative but 1,800 sq ft for $2,700 sounds like a pretty great deal to me. What are the lease terms?

 

[jronman]

I'm finally making the move to get out of my 900 sq ft basement shop and lease a commercial space to be more effecient in my work. I do custom carpentry and millwork. For those of you who also lease or rent a space I'm curious what others around the country/world pay?
I'm in Reno, NV and the going rate is about $1.50 a sq foot. I'm looking at about 1,800 sq ft space, so about $2,700 a month. Its hard to stomach because everyone else I know in the area is paying 30-50% less. Commercial real estate has gone crazy here.

That seems like a lot but I am not familiar with big city pricing. I am currently looking at a place that is roughly 12-15ish by 28ish (I don't know exact sizing but I am close) with a storage loft above. It includes power, water, and most of it is insulated to some degree for $100 a month with utilities included in that price. There are bathroom facilities in a different part of the building too. $2700 seems crazy too me but maybe I just found a really good deal.