What do you do if your hospital is seriously overcrowded but you're concerned about the risk of building a new one? Find and purchase a great, existing building you can renovate for a whole lot less!
In the past two years, our veterinary clients have made this concept successful. A good building "shell" saves one-third to one-half of the hard construction cost of a new project. Many veterinarians are discovering that finding a sweet deal on a good building and getting it appraised up front saves money in the long run and takes some of the guesswork out of the financing process.
The first step in choosing the right building is finding one with the right attributes. Adobe Animal Hospital, a 14,000 square-foot hospital in Los Altos, California, chose a former commercial pharmacy. The building had great features: a nice, boxy shape with wide open interiors perfect for renovation, a high structure and windows, easy access and visibility due to its original retail purpose, good parking, and an accessible roof for servicing mechanical equipment. A few nips and tucks later, and the new and improved Adobe Animal Hospital is open and ready to serve more clients than ever.
So if $130 per square foot for renovation sounds better than $250 per square foot to build new, perhaps it is time to kick start your plans by finding an empty space to fit your growing practice.