Finished Floor Area Estimate

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Finished Floor Area Estimate. As we promise before, we will post another building construction estimating method related to area of the building. This method is called Finished Floor Area Estimate. This estimating method is different from total horizontal area estimating method.

finished floor area estimate

Finished Floor Area Estimate

James E. Rowings Jr. explained that this method is by far the most widely used approach for buildings. With this approach, only those floors that are finished are counted when developing the historical base cost and when applying the historical data to the new project area. With this method, the estimator must exercise extreme care to have the same relative proportions of area to height to avoid large errors.

Finished Floor Area Estimate Example

Assume that a historical file contains a warehouse building that cost $2.4 million that was 50 ft x 80 ft with a basement, three floors, and an attic. Determine the cost for a 60 ft x 30 ft warehouse building with no basement, two floors, and an attic.

Solution for Finished Floor Area Estimate Example

1st Floor = 4000
2nd Floor = 4000
3rd Floor = 4000

TOTAL = 12,000 ft^2fa


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where ft^2fa is square feet of finished floor area.

Total Cost for the new project :

1st Floor = 1800
2nd Floor = 1800

TOTAL = 3600 ft^2fa

3600 ft^2fa x $200/ft^2fa=$720,000

As you see, you can tell that the result is not quite different from our estimate before. We hope that you understand this quick estimation method very well. For more article about Construction Estimating, please click one of the links below :

Project Cost Estimation
Cost Per Square Foot to Build a Home
Estimating and Costing pdf
Construction Estimator Jobs
Cost Capacity Factor in Order of Magnitude Estimate
Total Horizontal Area Estimate
Project Estimation Tools
Construction Cost Calculator
Project Management Cost Estimation Methods
Construction Estimate Template
Comparative Cost of Structure
Construction Estimating Software
Conceptual Estimates
Order of Magnitude
Rough Order of Magnitude

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