What is the price trend for medical office condominium pricing in Northern California

What is the normalized price relationship between a medical offices property as a rental and condominimized, e.g. if a property were valued at 3 Million in terms of capitalized net operating income and the units were converted to medical condos, what would be the normal expected increase in value per conversion costs and costs of sale.
In Market Conditions - Asked by Bruce F. - Nov 14, 2008
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Chris S.
Broker/Agent
Coeur D'alene, ID

Wouldn't it be great if it was that simple? Unfortunately it just isn't. I've seen cases where conversion to condo's works and I've see cases where it does not work. In today's market, I would find it hard to believe there is justification for the time and expense of the process.
Bottom line ... it will all depends on the specifics of your market. What are vacancies like? What does it cost to build new? What are rents doing? What about new competition? etc. etc.
Two good resources ... a real estate professional/commercial broker and/or a commercial appraiser.
chris.schreiber@century21.com

Jan 16, 2009
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