As of 2019, here are the ballpark prices per sqaure foot for renting commercial property in the various parts of Chatham County NC:
- Downtown Siler City $5 – $6/sf
- Siler City Shopping Centers $10 – $15/sf
- Pittsboro is averaging $17.50/sf
- Chatham Park area $28/sf
For comparison, renting commercial or retail space in nearby Cary or Chapel Hill is usually around $30 – $35/sf.
Determining Price Per Square Foot:
To determine the price per square foot of a property, you take the monthly rent, multiply it by 12, then divide that number by the square footage.
For example, if a unit is 1000sf and the monthly rent is $1,500, you would multiply 1500 * 12, then divide that number by 1000. So in this case, 1,500 x 12 = 18,000, and 18,000 divided by 1,000 = 18. So in this case, the price would be $18/sf.
Property Management by Eric Andrews
Eric Andrews manages several of the commercial properties in Chatham County NC. To learn more about this service, contact him today.