$7,000 for a 600 sq/ft location

[NewHere]

Hello new family,

Wow, so amazing to see how supportive everybody is here. I'm looking to open a cafe/coffee shop in West Palm, FL.

Real estate here is some of the most expensive in the country but I do see business thriving...at least from the outside it seems to be

I'm negotiating a lease right now- $7k for a 600 sq/ft location. It will be all take away since the city will not allow tables. *thinking about putting up a bar around the kitchen.

In your opinion, based on this limited information, would you consider signing this type of lease? It is in line with that's going on in the market here- we are in negotiations currently.

 

[Musicphan]

$140 sq foot is outrageous ... according to Loopnet the average in your area is $32.35 sq foot. Does this include your cost for the complete builtout? What is your term and what is included?

https://www.loopnet.com/search/retail-space/west-palm-beach-fl/for-lease/

 

[NewHere]

$140 sq foot is outrageous ... according to Loopnet the average in your area is $32.35 sq foot. Does this include your cost for the complete builtout? What is your term and what is included?

https://www.loopnet.com/search/retail-space/west-palm-beach-fl/for-lease/

I apologize for the mis-type. I live in West Palm Beach and the shop will be in Palm Beach (less than a mile away but considerably higher rents). We will be taking over a space that was a cafe so the build out will be mainly cosmetic. We are currently negotiating the lease- does not include any TI at all- my lawyers have added that to the lease. I've spoken to neighboring retail spaces and they say it's in-line.

 

[Musicphan]

WOW.. the average is $90 In PB, but yes, I see rent is up to $150 sq ft. Our top rates are $50ish - what a difference. Back to your original questions - about the bar - probably not. You are going to struggle in a space that small with storage, etc. Build everything around serving quality products fast so you can get them in/out. What kind of volume do you need to support rent?

 

[wmark]

why don't you work out how many hours you will be open, cost of labour, cost of product sold. Now, how many units do you need to sell every month, every week, every day, every hour ? That brings the harsh reality into focus.