Free tool · no sign-up
Price per buildable square foot calculator
Compare development sites on what can be built, not just on land area. Enter the price, the site area and the permitted density (FSI or FAR) to get the buildable floor area and the land price per buildable square foot, per m² and per unit. Works in Canadian or US dollars; nothing leaves your browser.
Results
- Site area
- 108,900 sq ft10,117.1 m²
- Buildable gross floor area
- 217,800 sq ft20,234.3 m²
- Price per buildable sq ft
- $41.32
- Price per buildable m²
- $444.79
- Price per acre of land
- $3,600,000
- Price per net sq ft
- $48.61
- Price per unit
- $40,909.09
- Buildable area per unit
- 990 sq ft
- All-in per buildable sq ft
- $48.90
- All-in per unit
- $48,409.09
Arithmetic only, not an appraisal: the zoning by-law or ordinance decides what can be built. Works in Canadian or US dollars. Calculated in your browser; nothing is sent or saved.
How it’s calculated
- Buildable area
Buildable GFA = site area × FSI (FAR) - Price per buildable sq ft
Price ÷ buildable GFA - Price per unit
Price ÷ number of units (optional) - All-in land cost
(Price + other land-side costs) ÷ buildable GFA
Worked example (illustrative numbers)
- A 2.5-acre site (108,900 sq ft, 10,117.14 m²) is offered at $9,000,000. The zoning permits an FSI of 2.0.
- Buildable GFA = 108,900 × 2.0 = 217,800 sq ft (20,234.28 m²).
- Price per buildable sq ft = 9,000,000 ÷ 217,800 = $41.32, or $444.79 per buildable m². Per acre of land it is $3,600,000.
- At an 85% efficiency, 185,130 sq ft is net saleable or leasable, so the price is $48.61 per net sq ft. A concept plan with 220 units puts it at $40,909.09 per unit.
- Adding $1,650,000 of other land-side costs (for example charges and demolition the buyer has priced) gives an all-in $48.90 per buildable sq ft, or $48,409.09 per unit.
Illustrative figures for a fictitious site; they are not land values, development charge rates or benchmarks for any market.
Why land is compared per buildable square foot
Two sites of the same size can support very different buildings. A one-acre lot zoned for an FSI of 0.5 permits about 21,780 sq ft of floor area; the same acre at an FSI of 4.0 permits 174,240 sq ft. Price per acre treats them alike, while a developer's budget does not: the land has to be paid for out of what can be built and sold or leased. That is why development land, and especially residential and mixed-use land, is usually discussed per buildable square foot (or per buildable m²) and per unit.
The figure is a comparison tool. It lets a buyer line up a site against others with different sizes and densities, and lets a listing broker show the land price in the terms developers use. It is not a valuation: the price a site can carry depends on the end product, construction costs, charges, timing and the risk of getting approvals.
Which density to use
Use the density that is permitted today, and say so. In Canada that usually means the floor space index (FSI) or floor area ratio in the zoning by-law, sometimes with different limits for residential and non-residential space. In the US it is usually the floor area ratio (FAR) in the zoning ordinance. Some zones express density in units per acre or per hectare instead; in that case the per-unit line is the more natural comparison.
If the listing relies on a higher density that is proposed, under appeal or available only through an application, show the as-of-right figure first and the proposed figure separately, with its status. Buyers will check the by-law, the official or comprehensive plan and any site-specific approvals, and a price per buildable sq ft on density the site does not yet have is easy to misread. Gross floor area definitions also differ between by-laws (what counts towards GFA, below-grade space, mechanical floors), so quote the definition the municipality uses.
Net area, units and all-in cost
Buildable GFA is a gross figure. Corridors, lobbies, walls and mechanical space mean that only part of it can be sold or leased; the efficiency line converts the price to a cost per net square foot on whatever ratio the buyer's concept plan uses. The per-unit line divides the price by the unit count in a concept plan or a permitted maximum, and is common for apartment and townhouse land.
Land is rarely the only cost before construction. Development charges, parkland dedication or cash-in-lieu, demolition, environmental work and other municipal fees can be significant, and they vary by municipality and change over time. Enter any you have priced from the municipality's current schedules as other land-side costs to see an all-in figure, and date them in the listing. This calculator does not supply rates for any municipality.
Arithmetic only. This is not an appraisal, a valuation opinion, or planning, legal or tax advice; the zoning by-law or ordinance and the municipality decide what can be built.
Presenting it in a land brochure or OM
Show the inputs next to the result so a reader can check it: site area in both units, the permitted density and its source, the resulting buildable area and the price per buildable sq ft. Keep the per-acre price too, because some buyers compare on it. In an OfferingStack land listing, the site area, zoning and any notes you add go on the land pages of the brochure and offering memorandum, and calculated figures are labelled as calculated.
Questions
How do you calculate price per buildable square foot?
Multiply the site area by the permitted FSI or FAR to get the buildable gross floor area, then divide the price by it. A 2.5-acre site (108,900 sq ft) at FSI 2.0 has 217,800 buildable sq ft; at $9,000,000 that is $41.32 per buildable sq ft.
What is the difference between FSI and FAR?
They measure the same thing: gross floor area divided by lot area. FSI (floor space index) is the usual term in Ontario and elsewhere in Canada; FAR (floor area ratio) is the usual US term. Check how the local by-law or ordinance defines gross floor area.
Should I use as-of-right or proposed density?
Lead with the density the zoning permits today and label it. If a higher density is proposed or under application, show it separately with its status, so the price per buildable sq ft is not read as if the approval already exists.
Does the calculator include development charges?
Only if you enter them. Development charges and other municipal fees vary by municipality, use and timing, so the tool has no built-in rates. Add the amounts you have priced as other land-side costs to see an all-in figure.
Is my data saved?
No. The calculation runs in your browser and nothing you type is sent to OfferingStack.
Related
Put the numbers in a finished offering memorandum.
Upload your fact sheet or rent roll, add the NOI and price, and review a watermarked preview of the financial and pricing pages before you buy anything.