What kind of sq ft/yr were/are you seeing around you for commercial/industrial lease?
I have a rather unique situation, my main area gym in lower level of an old department store, now a mini-mall. This is where I have 5K sq feet, then next floor, I have small (750 sq ft I guess) weight loss center then on 2nd floor is a 2000 sq ft aerobics room that I pay only $50 a month to sublease from the karate guy, he has the evenings and I have access in mornings....
So at one time my entire rent was $1300, dirt f'ing cheap but it wasnt cheap enough so I negotiated with the LL to reduce to $800 which took some doing. My LL does not rent by the square foot, hes old school, he just looks at a price he thinks is fair and goes from there.
So my space is $1.67 per square ft annually to compute it out as most would, which is beyond cheap, BUT there are many issues as I cant install any large sign on building, the lower level leaks when lots of rain or melting snow, so I'm kind of hidden, not good
So sorry to get off topic, I checked with a very small mall about a mile away, and thier price was around $2500 per month, aprrox same sq footage. But outside access there, can put up any signage I want, parking lot steps from entrance etc.....I didnt bite because at $800 per month, plus the cost to build out, the costs to move equipment would be staggering. Like starting over.
There are other spaces in this down town area, they all cheap, maybe not as cheap, I;d say on average probably in the $3-$4 per sq foot range. But like I said, this is downtown district, not retail mall space.
The avg income in this hamlet of 25K, is like $33K a yr, I would imagine yr demographics much different. Beware of the CAM fee, common area maintenance fee which covers snow plowing, mowing, carpet, parking lot upkeep etc that runs additional $3 per sq ft at least in many markets.
The equipment, well the last circuit I bought was cybex VR2 brand new was 20 yrs ago and to be honest, I'm keeping this stuff until the bitter end, its still in great shape, it looks almost new still....the free weights, I buy used on craigs or where ever, I take it home and paint it, make it look acceptable and pay lot less for, so I like that route too, saves a ton of cash
LMK if any more questions, yes my place is hard core BUT most are average Joe's and soccer Moms who chit chat and do cardio as much as I dont like it, but I apprecaite their biz