How much are you paying for studio space?

[JCBigler]

A question for the guys out there running full time commercial recording spaces. Assuming you are leasing the space that you are in (i.e. you don't own it out right), how much are you paying for rent per month?

A friend and I are putting together a plan to open a full time, dedicated facility. The Numbers that we are being given right now are $9 per square foot for rent. The space we are looking at is over 5,800 square feet. I can't imagine that this is right as a per month payment. ($52,200 per month )

If you don't feel like posting in the forum, you can PM me too. Thanks.

(This is in Tulsa, Oklahoma, mind you. Not downtown LA or NYC or Chicago).

[Southsidemusic]

The "$9" per square feet numbers usually means per year, atleast thats the way it works here. If the advert say $30 per Sqm means it is over a years time.

[JCBigler]

Originally Posted by Southsidemusic

The "$9" per square feet numbers usually means per year, atleast thats the way it works here. If the advert say $30 per Sqm means it is over a years time.

That's what I was thinking also. I mean it HAD to be split over 12 months time. Just wondering if that is a reasonable number or not.

This is in a complex to be filled with a bunch of other "artist" type endeavors.

[Southsidemusic]

Sounds great but since i am in sweden and can't relate to the same pricing structure I have to step out but Best Of Luck. Sounds cool to have some other music people to bounce ideas off of instead of the cat or a ghost in the basement

Although $5000 plus per month seem like a mansion rent to me. I could rent a 12 room house in A+ location in Stockholm City for $5000 a month.

[JFreak]

At 5k a month I'd buy it and pay mortgage. Interest rates are now 0.90% for me

[Drew Mazurek]

real estate is HYPER geographic. $5k in NYC is delusional. $5k in Alabama would be highway robbery.

Not sure you'll get much useful info on an "international" forum. I'd consult an experienced commercial realtor familiar with the specific area.

[musicman691]

Originally Posted by Drew Mazurek

real estate is HYPER geographic. $5k in NYC is delusional. $5k in Alabama would be highway robbery.

Not sure you'll get much useful info on an "international" forum. I'd consult an experienced commercial realtor familiar with the specific area.

Also what is included in that rental fee? Security? Utilities? Insurance? Groundkeeping fees? JC needs to get a complete run down of what's in that fee. All kinds of seemingly useless crud can be in there.

This is just my thoughts but considering there's a whole bunch of other artistic types in there the property owners may just be trying to ride their tenants for all they're worth. 'Oh they're artistic types? They probably don't know squat about what they're getting into and we can make a killing off them'

[Emcha_audio]

Also remember, more artistic aka noisy (ie music and the likes) the more you will have to put on soundproofing. So that 9$ a square foot a year might in fact be quite expensive.

[John_Toolbox]

$9/sf may be normal for the area, but it seems expensive for something touted as an "artist space". Generally, the buildings I have seen that are rented out as an "artist community" are old, run-down warehouses that would be difficult to rent out for their original purpose due to the amount of work they need. Expect to have problems with power, plumbing, etc. I've never been to your city, but this is my experience from looking at spaces in other cities. I guess the real question is how convenient this location is for your existing clients, and how likely is it to bring you new business?

One other thing to consider is the cost of building out/treating the space. Even if you do all of the work yourself, the materials cost and your time are going to be a significant investment that you will never get back.... Even if you own the space, there is basically no added resale value if it is treated/soundproofed unless you are in an area like LA or NYC.

[JCBigler]

I have some more detailed numbers, which I won't share as it's irrelevant at this point. But we are in the process of getting clarification on exactly what is included and how the numbers are broken down.

This is part of a larger project for an older building that has been gutted, is being divided up and renovated for the purpose of supporting the arts. The other artists types that I referred to are mostly painters, sculptors, glass blowers, probably some musicians, and a night club in the basement (on the other end of the building).

I may have more information to share in a week or two.