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Strip Center Pad Site Value Calculator
Pad sites on existing centers add value at low marginal cost.
Pad site net value
$2,728,846
Gross value at cap
$4,653,846
Development cost
$1,925,000
How the math works
Rent = SF × PSF. Gross value = rent / cap. Dev cost = SF × PSF. Net = gross − dev.
5.5k × $55 = $302k rent / 6.5% = $4.65M gross − $1.925M dev = $2.72M pad site net value.
How to Use
- Enter pad site SF.
- Enter expected rent PSF.
- Enter development cost PSF.
- Enter cap rate %.
- Read pad site value.
Frequently Asked Questions
Pad site characteristics?
Typically 4000-8000 SF. Quick-serve restaurants (Starbucks, Chipotle) or small retail. Prime locations near ingress/egress. $40-80/SF rent PSF in strong markets. Constructed via build-to-suit or spec.
Value creation?
Existing center has land, parking, entrance, utilities. Marginal cost to add pad: $200-500/SF construction vs $400-800 for greenfield site. Rent captured without new customer acquisition. 25-40% better returns than greenfield.
Approval process?
Requires zoning approval, anchor tenant consent (co-tenancy rights), adjacent tenant review. 6-18 month process. Budget $40-120k soft costs. Don't underestimate — 30-50% of pad projects stall on anchor tenant objections.
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