$45 a square foot on Bay St. High or Low?

[Noone]

MJ'ers if you here $45 a square foot for commercial on Bay St. Is your initial reaction WOW! sign me up.
Or is this Shipyards IV.
Or does the price include free parking like city council members and judges.
What is the range of high and low?
I'm serious about this and welcome any feedback. Take it from the Prime Osborn to the stadium.
Bay St.

[Noone]

Nobody wants to take a shot at this?

[bill]

Too vague. Like saying "I have a car, what is it worth?"

[Noone]

Too vague. Like saying "I have a car, what is it worth?"

^Not at all. Here is a fixer upper $10sq'
                              used one that runs $30 a sq'
                              brand new $100sq'
I'm just asking about Bay St.
Appreciate the response back.

[bill]

Size, user or investor, how much work needs to be done, what type of commercial, single or multi tenant, age??

[urbaknight]

We don't have the big city atmosphere that demand high prices yet. I think they're jumping the gun a bit. There's a lot in place on Bay st, but not enough to justify big city rates yet. If they could entice a handfull of complimenting businesses along with a few housing tycoons with start-up specials; Let them get in there, fit the places to suite their needs, let them begin to flourish and then jack em up to the big city prices.

[JFman00]

List prices for real estate in downtown Jax:

Plaza Building on Forsyth at $148/sf
Laura Trio listed at $17.83/sf
Seminole Club on Hogan at $37/sf
341 W Forsyth at $90/sf
Holmes Building on E. Bay at $200/sf
120 E. Forsyth at $47/sf
100 W Bay at $53/sf
45 W Bay at $63/sf
323 E Bay at $140/sf
136 E Bay at $141/sf

Very wide range as you can see. It's possible that we have yet to see the bottom of the commercial market given the structure of commercial mortgages (5-7 year balloon).

[Noone]

^Great Info.
Man, I love Metrojacksonville

[downtownjag]

Retail or office?

[simms3]

Shave 40% off those list prices for what they may sell at.

Also I wasn't sure what you were referring to at $45/SF.  Initially I thought space to rent by the way you made it sound (and at that number, I'm used to seeing $45/SF for rent where I am and definitely where I work).

Alas, $45/land foot for a lot?  $45/SF to buy a small commercial building?  I don't know that market.

For perspective some of Jacksonville's trophy class "A" office towers have traded for between $60-$125/SF if I remember correctly.  Jax commercial is CHEAP.