Office square footage is an essential part of commercial real estate rental. Deciding on the office space requirements per employee can be based on a general estimate.
While knowing exactly how much space is not always possible, using this square footage calculator can help. You may need the exact number, and if so, calling the team at LCI Realty will meet those requirements. Until then, you can use a relative measurement of the properties to consider them for your commercial needs.
A Guide to Help You Decide on How Much Office Space You Need
You may have other questions about your business and commercial real estate needs. Asking the right questions can help. Here is a start-to-finish guide to deciding on the average office size for your specific business needs.
- President Office Space – 400 square feet
- Vice presidents Office Space – 200 square feet
- Managers Office Space – 150 square feet
- Engineers Cubicles – 175 square feet
- Accountants Cubicles – 150 square feet
- Secretaries Cubicles – 125 square feet
- Customer Service Reps Cubicles – 125 square feet
- Programmers Cubicles – 125 square feet
- Data entry Open Space – 125 square feet
- Clerks Open Space – 125 square feet
- Temps Open Space – 100 square feet
- File Room Permanent Space – 200 square feet
- Storage Room or Library Permanent Space – 200 square feet
- Mailroom Permanent Space – 125 square feet
- Workroom Permanent Space – 125 square feet
- Reception Area Permanent Space – 100 square feet (plus 10 square feet per person)
- Lunch or Break Room Permanent Space – 75 square feet (plus 25 square feet per person)
- Conference Room Permanent Space – 50 square feet (plus 25 square feet per person)
Determining The Cost of Office Space
You may still be wondering, “How much office space do I need?” Talking to a real estate professional at the offices of LCI Realty can nail down exactly how much the commercial space will cost per square foot. Determining your most important needs first is the best way to ensure an accurate budget for your business.
Signing a lease binds you to an agreement with the commercial building that you choose for at least six months. So, you do not want to make the decision too quickly or without adequate preparation. In addition to regular calculations for office space, you can determine the total amount of square footage you will need based on an estimate of your future business growth.
Making the Calculation
Calculating commercial real estate is always a variable equation. However, this calculation should be applied as a formula to determine the rent per square inch for your commercial property.
Square Foot x Rent Per Square Foot = Rent Per Year
Example: 2,200 x $11.50 = $25,300.00 per year for rental costs
Some variations may apply including an expression of the rent as monthly or annual. For this type of calculation, you can adjust the formula by dividing the total by 12.
Percentage leasing includes retail commercial contracts that may include a different calculation to determine the base rent.
Here are two ways the percentages are calculated:
- Minimum base rent equals percentage over a specific base amount
The lessee pays a minimum base monthly rent and then adds a percentage of the gross receipts over the amount.
Example: $1,000 per month base rent and five percent of all gross receipts over $50,000 per month.
- Minimum base rent + percentage of all gross receipts
In this case, the bottom line is not set before the percentage is added. The rent is paid based on all of the gross receipts from zero. Example: $500 base rent + two percent of gross business receipts.
NOTE: Breaking a commercial lease may include early termination fees. If you plan to vacate the building early, be sure to have enough in an emergency fund to accommodate this type of expense.
Typically, you can decide how much office space you need by following these general guidelines. Call the team at LCI Realty to discuss the average square footage for your commercial space today!
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