Key Takeaways
- Office-to-residential conversion costs $150-$350/SF, but only 10-15% of office buildings are feasible candidates.
- Retail-to-industrial conversion leverages distressed retail pricing in logistics-demand markets.
- Each conversion type has specific structural, zoning, and financial feasibility requirements.
- Municipal incentives (tax abatements, expedited permits, credits) can significantly improve conversion economics.
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Test Your Knowledge
1.What percentage of vacant office buildings are estimated to be feasible for residential conversion?
2.What is the typical cost range per square foot for office-to-residential conversion?
3.Which building characteristic is critical for office-to-residential conversion feasibility?