Most commercial property projects cost between $12.00 and $60.00 per sq ft per year, with a typical price near $30.00. Prices vary by state and city, so the range below is a planning guide rather than a quote.
Typical commercial property cost
$12.00 – $60.00
per sq ft per year · typical $30.00
A general planning range, not a quotation.
Commercial property cost breakdown
- Industrial or warehouse$6.00 – $15.00typical $10.00
- Retail space$15.00 – $45.00typical $28.00
- Prime office space$30.00 – $60.00typical $45.00
What Commercial Real Estate costs
Commercial leases are quoted per square foot per year and vary by property type, location and term. Industrial and warehouse space is cheapest, retail sits in the middle, and prime office space is the most expensive.
Costs by state
- Alabama
- Alaska
- Alberta
- Arizona
- Arkansas
- British Columbia
- California
- Colorado
- Connecticut
- Delaware
- District of Columbia
- Florida
- Georgia
- Hawaii
- Idaho
- Illinois
- Indiana
- Iowa
- Kansas
- Kentucky
- Louisiana
- Maine
- Manitoba
- Maryland
- Massachusetts
- Michigan
- Minnesota
- Mississippi
- Missouri
- Montana
- Nebraska
- Nevada
- New Brunswick
- New Hampshire
- New Jersey
- New Mexico
- New York
- Newfoundland and Labrador
- North Carolina
- North Dakota
- Northwest Territories
- Nova Scotia
- Nunavut
- Ohio
- Oklahoma
- Ontario
- Oregon
- Pennsylvania
- Prince Edward Island
- Quebec
- Rhode Island
- Saskatchewan
- South Carolina
- South Dakota
- Tennessee
- Texas
- Utah
- Vermont
- Virginia
- Washington
- West Virginia
- Wisconsin
- Wyoming
- Yukon
Frequently asked questions
What is a typical commercial lease rate?
Rates run from about $6 per square foot per year for industrial space to $60 or more for prime office. Location and building quality drive the spread.
What extra costs come with a commercial lease?
Expect NNN charges for taxes, insurance and maintenance, plus a security deposit and possibly a fit-out contribution.
How long are commercial leases?
Most run three to ten years. Longer terms usually come with lower rates and improvement allowances.