Newsflash: (Ohio) Calculating Fair Market Value per SqFt for Commercial Medical Building

I’m working with some investors that are looking to aquire land to build a medical building and I’m currently compiling some basic information on a handful of lots that they’re interested in. Most of them are within a 1-2 mile radius and I already have some basic information on the lots (mostly pulled from county GIS site). They also asked me to calculate the FMV per square foot for a proposed 9-10,000 rentable sqft building.All the lots that we’re currently looking at are open lots, and the cost of development for the building is not something i’m to include in my analysis as its going to be taken care of by the future tenant. Most of my experience in the past has been to calculate FMV on small and mid-size residential units and this is the first time i’m looking at something like a medical building.Whats my best approach to determine the FMV per sqft? Since it’s not quite as easy for me to determine what comparable rent is in the area, as it was with residential and apartment buildings. I reached out to a couple of the commercial agents in the area and asked them for the info and hopefully they’ll be able to provide me with accurate results.Ideally though I was hoping to learn how I’d be able to do this myself. Any advice/suggestions are appreciated!Thanks!

Read more at https://www.reddit.com/r/RealEstate/comments/6n2hfs/ohio_calculating_fair_market_value_per_sqft_for/?utm_source=ifttt

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