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Renovation budget

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  • 1.  Renovation budget

    Posted 08-13-2019 17:02
    Hello
    I was wondering if anyone could share there price/SF that they have paid to renovate a non LM into a LM.   I know there are a lot of variables that can change this but just looking for some ballpark numbers.     The 3000sf store would be very basic.   The landlord will handle the hvac and exterior repairs if needed.       Is $100/SF to high of a budget?

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    Ricky Danzel
    Investor
    Michigan
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  • 2.  RE: Renovation budget

    Posted 08-13-2019 23:48
    We would need to know more about the utilities and the number or machines you are considering.  It could cost the $100 PSF to bring all right sized utilities in depending on their location and what you needed.

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    LES MONTHEI
    MT VIEW LAUNDROMAT
    LAKEHEAD CA
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  • 3.  RE: Renovation budget
    Best Answer

    Posted 08-13-2019 23:50
    Edited by LARRY LARSEN 08-14-2019 10:23
    In your original question/statement you describe converting an existing retail space into a Laundromat. This a full Laundromat construction project. A remodel is an existing Laundromat, usually older, where you replace the old equipment and spruce up the interior.

    For building a Laundromat in a space that has never been a Laundromat, your $100 per SQFT figure is too low. I know there are regional differences, but total construction cost in California would likely be $180 to $320 per SQFT for new construction.

    The selection of the size and numbers of washers and dryers will vary by your store design. Add $50,000 if you want a card system.

    You need to bring in a 6 inch sewer line, 4 inch gas line and 600 AMP electrical service. You may also have to pay a large sewer impact fee and architect and engineer fees. This costs will run from $100,000 to $250,000.

    Equipment (including changers, coin boxes, baskets, soap machine, vending, etc.) will run from $320,000 to $475,000 depending mostly on the size of the washers. The largest washers cost well over $25,000 for each washer.

    Now you have to calculate the costs of installation, plumbing, electrical, lighting, alarms, signs, sewer, floor sawing, bases, flooring, ceiling, HVAC and carpentry costs. Let's say $150,000 to $275,000.

    We can't forget rent you have to pay during construction and “course of construction” insurance. Add $18,000 to $35,000. Small amounts for trash removal and miscellaneous items. Another $10,000.

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    Larry Larsen
    Laundromat123.com
    Anaheim, CA
    Distributor - Insurance - Consulting
    Cell: (714) 390-9969
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  • 4.  RE: Renovation budget

    Posted 08-14-2019 10:29
    Thank you both for your answers.   Larry I did use the wrong term this would be a complete construction in an existing building.   So your $180-$320/sf does not include any washers or dryers?

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    Ricky Danzel
    Investor
    Michigan
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  • 5.  RE: Renovation budget

    Posted 08-14-2019 11:02
    Edited by MICHAEL WALSH 08-14-2019 11:02
    Ricky & others,

    Both Les & Larry L. know of what they speak.

    I am just going to point out ... it seems like Brian Henderson possibly along with his contractor did thorough enough preliminaries using CADD software ... in his case SketchUp.  That might bypass some of the architect & engineering fees.  Especially, if the prospective investor got an architect & engineer who were not the best.  Some of us older guys have seen first hand the wide range of their "professional" abilities over the years!

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    MICHAEL WALSH www.kingkoin.com
    King Koin Laundry, Car n Dog Wash
    Bismarck ND
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