First, it is impossible to come up with a relevant price per sq ft for TICs, because the majority of TICs don't show square footage. Checking all statuses for TICs 1 BR & up in the Haight for the last year, 36 out of 43 didn't show square footage. That said, even if you do have that information, pricing that way on any kind pf property is not advisable for many reasons. Larger places should go for less per sq ft and vice versa, so the average number will be low or high for your place unless your unit is average, and this method doesn't account for how old the building/unit is and/or what condition it's in. Also, if it's a TIC this method doesn't account for how many units are in the building which can have a dramatic effect on value, nor does it account for OMI and Ellis evictions. If you are looking to Buy or Sell I suggest you speak with someone knowledgeable in this area and go from there, especially in this Market. My team and I would be glad to assist an/or provide no-strings advice.
Lance King/Managing Broker