college business class I NEED HELP!!

[epfootballcutie04]

first of all i have NO idea where to post this question, but im an avid fan of the disboards, and people have helped me SO much here, so i thought i'd give this question a whirl.


I'm taking a small business management course at a community college and part of the class is that we have to make a business plan for a business we 'want to open'. I want to eventually get into event planning *for disney* but i have to pretend to open my own.

my question to you is: how much is a reasonable YEARLY payment to rent out a space.... say.... 1,000 sq feet. just a rough estimate would work GREAT! I'm having the worst luck finding information, and i've been looking forever!

I hope you guys can give me advice! ANY advice is appreciated, i think im going out of my mind!

THANKS IN ADVANCE!!!

 

[mamacatnv]

Call a couple of your local commercial real estate professionals and commercial property managers. Ask them the going rate on commercial space at a strip mall type location. Usually you can get a $ per sq. ft. idea and then take it from there.

Good luck

 

[Luv4Disney]

Call a couple of your local commercial real estate professionals and commercial property managers. Ask them the going rate on commercial space at a strip mall type location. Usually you can get a $ per sq. ft. idea and then take it from there.

Good luck

That's what I'd suggest. It's hard to get suggestions from here because everyone is from someplace difference and the market is different depending on your location. For example, here in Jersey, rent is pretty ridiculous. So I think mamacatnv has the right idea!

 

[epfootballcutie04]

thanks to both of you! After going practically bald from pulling out all of my hair in frustration, i took your advice, and i think i got what i needed!
thanks for your help!

 

[TheRustyScupper]

From my experience:

1) Strip Inexpensive mall or Stand-Alone - $4.75/ft/yr + 1.5% of gross sales
2) Strip Medium Level mall - $8.50/ft/yr + 1.5% of gross sales
3) Strip High End mall - $10.75/ft/yr + 2% of gross sales
4) Enclosed Medium Level mall - $11.00/ft/yr + 2% of gross sales
5) Enclosed High End mall - $21.00/ft/yr + 3% of gross sales
6) Enclosed Exclusive mall - $28.00/ft/yr + 3% gross sales

NOTE: Prices may or may not include all utilities (light, heat, sewer), local taxes, real estate taxes, and common-area maintenance. Usualy included are all of the above, with electricity beng negotiable.