According to industry experts, the average cost to build out a medical office in most metropolitan markets may range from $50 to more than $250 per square foot. Do the math and, depending on what you need to get done, it can easily become a costly effort.
There is no question that building out your medical office space will require a certain amount of expense, but it doesn’t have to break your budget if you follow a few simple guidelines aimed at reducing those build-out costs:
- Start with a solid plan. Before you start renovating your office space or ordering furnishings, create a plan that includes detailed price estimates and specifies how you will make the most of every inch of available space, including shared spaces like bathrooms and waiting areas.
- Be mindful of the impact space has on cost. Businesses, in general, including medical practices, often underestimate the cost of tenant improvements. Keep in mind that the particular needs of your practice, as well as the condition of the building in which you are moving, will influence your total costs. For instance, you may need to install plumbing fixtures and lighting or add examination rooms or lead walls for units with X-ray equipment.
- Avoid extravagant design prototypes. Instead of wasting money on elaborate medical office designs, adhere to adding features based on basic standardized prototypes. That alone will save you money.
- Work with a reputable general candidate. The surest way to burn through money is by trying to complete your office build-out on your own. That is because the process involves so many details, vendors, and sub-contractors that a do-it-yourself approach is bound to get mighty expensive pretty quickly. On the other hand, a general contractor can take care of every aspect of the project, from bidding to hiring and working with your architect, to create an environment that fits your budget and timeline.
- Have your general contractor and architect keep tabs on building material costs. If your budget is limited, yet you want to improve upon your patients’ experience, task your general contractor and architect with finding alternative materials that are more affordable, but still look aesthetically appealing.
Controlling Your Medical Office Build-Out Costs
Another way to help reduce build-out costs is by leasing medical office space at the new Executive Medical Center in Naples, Florida.
Set to open in February 2021, this contemporary-designed, three-story, 28,000-square foot building located within a quarter-mile of I-75 provides an ideal location for numerous healthcare providers looking to take advantage of such features as:
- Two expansive floors of stylishly designed medical offices that are move-in ready and equipped with all the amenities your busy practice requires.
- An Independent and fully functional, state-of-the-art MRI imaging center that is located on the first floor of the Executive Medical Center. Designed to provide timely, detailed scans, the imaging center enables you to diagnose and treat patients with any unnecessary delays.
- The North Naples Surgery Center is located on the third floor of the Executive Medical Center. This ultramodern outpatient ambulatory surgical center is equipped with the latest and most advanced technology and boasts a dedicated medical staff equipped to handle a large volume of daily traffic and offering a wide range of elective, same-day procedures involving the use of moderate sedation. If you are a surgeon with privileges at the North Naples Surgery Center, you will be provided with any equipment, anesthesiologists, and/or medical staff you need to perform your specific procedure.
As a tenant at the Executive Medical Center, you may be able to save thousands of dollars in build-out costs by taking advantage of these features.
