Warehouse Business : A good Retirement Plan

Building a warehouse and a storage facility close to the city or commercial hub:

Building a warehouse typically pays for itself in 4 to 12 years compared to renting, depending on localized Nigerian real estate rates.

When deciding whether to build or lease a commercial storage space, you must weigh immediate capital expenditure against long-term operational costs.

on average, renting a standard commercial warehouse costs between ₦25,000 and ₦70,000 per square meter, per year, while building a basic warehouse costs between ₦160,000 and ₦300,000 per square meter.

Asset Appreciation & Depreciation: Owning a warehouse provides a depreciable physical asset for tax purposes while the underlying land generally appreciates over time in major Nigerian commercial hubs like Lagos (Ogun axis, Lekki, Apapa) or Kano/Portharcourt.

🔨 Cost to Build a Warehouse (Construction)

If you choose to construct your own facility, structural engineering firms like JECCL estimate the following build costs per square meter: [1, 2]

Standard Storage Shed (Mild Steel Truss / Galvalume): ₦150,000 – ₦200,000 / sqm
Reinforced Industrial Factory / Heavy Machinery Depot: ₦200,000 – ₦300,000 / sqm
Specialized Cold Storage / Temperature-Controlled Warehouse: ₦300,000 – ₦500,000 / sqm
(Note: These figures exclude land acquisition, civil approvals, and internal racking systems).

💰 Cost to Buy an Outright Warehouse

Purchasing complete structures on platforms like Nigeria Property Centre like jiji.ng typically translates to ₦500,000 to ₦1,200,000 per square meter of built-up area.

For example, a 2,000 sqm warehouse in Maryland, Lagos commands roughly ₦1.6 Billion.
A 7,300 sqm warehouse in Oregun, Ikeja averages ₦5.5 Billion.

How to build cheap but strong (for more info. contact evionis series ltd (evionis.ng):

whether you buy in the city or village cost of materials will probably be the same.

Buy H beams yourself after you get the dimensions from the structural drawings (see portal frame pictures.

Mold your blocks yourself by employing direct laborers. where the trade union are molding 45 blocks to a bag, you mold 25 blocks to bag, it will land at same cost as buying inferior blocks as yours will be stronger. You will need about 5000 blocks for a 18meter by 40 meter and 6 meter portal frame warehouse.

Get a civil engineer to do the foundation for you by using laser equipment to precisely position all foundation beams' bolts on the H beams short pillars.

Get a qualified mechanical engineer to fabricate the portal frame for you from the H beams, bars etc. you purchased and installed for you.

finally you do the floor using direct labors and standard industrial concrete mixture

use direct labors for formwork setting of the blocks

use atleast 0.75mm to 1mm aluminum roofing sheet, ensure to buy this yourself by visiting the factory and using your venier caliper to check the thickness gauge as claimed by the supplier.

all other fittings can be installed by those who want to rent from u....

for specification of warehouse steels and construction visit : https://havitsteelstructure.com/portal-steel-frame-buildings/ and www.evionis.ng

Warehouse Business : A good Retirement Plan

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