Reducing Your Commercial Real Estate Operating Costs
Every commercial real estate property requires an investment in regular maintenance, utilities, facility management and property taxes in order to operate properly. The overall operating costs for small business buildings vary depending on the size of the space, location and building function or special features. In general, the total operating expenses in a commercial office space equal about $17.68 per square foot.
Estimating average energy use in buildings
Office building owners spend an average of $2.14 on energy consumption per square foot in commercial buildings. Depending on the size of the building, that can add up to a very large expense. In fact, it is estimated that about one-third of total non-fixed operating expenses go toward energy use in commercial buildings. And these buildings contribute to nearly 20 percent of the nation’s greenhouse gas emissions annually.
Making changes to reduce the energy consumption of a commercial building can cut down on emissions and current operating expenses, and increase the property’s value, as changes to expected future operating costs for commercial buildings tend to have a positive impact on asset values.
Commercial building owners pay an average of $6.79 per square foot in non-fixed operating expenses.
Energy use typically accounts for one-third of total operating costs for commercial office buildings.
About 17 percent of electricity usage in commercial buildings goes toward lighting, making it the largest end use of electricity.
Additional commercial real estate resources
Interested in finding more ways to lower your commercial real estate energy consumption? Check out our related resources for more exciting strategies.
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