Hi @Evan Phoenix Welcome to the community!

Hey @Tommy Xaysongkham...Good question. I think a lot of it really comes down to the specific market, so location plays a big role, but there are definitely some general guidelines people use. That said, I’ve always struggled a bit with the “price per square foot” metric when it’s used broadly, because it can blur the line between buying an existing facility and building one from the ground up. Those are two very different plays. Ground-up development comes with a lot more moving parts, risk, and capital beyond just construction costs, especially when you factor in land acquisition, entitlements, site work, and the time to stabilize. If you already own the land and are looking at expansion, then cost per square foot can be more useful from a planning standpoint. For acquisitions, I tend to focus more on what the property is currently producing and what it can realistically become with better management or improvements. The income and upside usually tell a clearer story than a blanket $/SF target.

Welcome @Karl Owens ...glad you're here. Any specific questions, ask away. There is a wealth of information here from the members and people here to help you succeed.

Appreciate you sharing this!