The value of a warehouse space can depend on a number of variables. The condition of the warehouse, along with its size, location and possible uses all play a role in determining its value. The value of a warehouse space can best be estimated by comparing it with warehouses that share similar characteristics. The more precise your information about comparable local values and the specific details of the warehouse you are evaluating, the more precise your estimated value will be.

Measure the exact size of the warehouse. Most warehouse space is priced in terms of dollars per square foot, so a precision estimate of the warehouse's size will yield the best estimate.

Evaluate the condition of the warehouse. A newer, more secure warehouse will generally cost more per square foot then an older, less secure facility, all other things being equal.

Assess the use value of your warehouse. An empty warehouse with no facilities whatsoever will be worth less than a warehouse tailor-made to a specific use. For example, warehouses with custom refrigeration units or chemical safety equipment will typically cost more than bare warehouses. Warehouses built to serve different forklift types are also often valued differently.

Price comparable warehouses in the surrounding area. As with most real estate, location plays a key role in the value of a warehouse. Warehouses of similar condition and use in the immediate neighborhood are likely to have similar costs per square foot. Contact local landlords or review real estate listings to get current, comparable prices.

Multiply the local cost per square foot by the total square feet in the warehouse you are evaluating. This will give you a rough estimate of its value. Modify this cost upwards or downwards based on the condition or any special features of your warehouse.