Results 1 to 7 of 7

Value of a Red Iron Building

| Scrap Metal Prices
  1. #1
    157buck started this thread.
    SMF Badges of Honor

    Member since
    Dec 2015
    Posts
    2
    Thanks
    0
    Thanked 0 Times in 0 Posts

    Value of a Red Iron Building

    I need to know the salvage value of a red iron building. The building is approximately 60 years old. It is 70' x 200' with 28' side walls. The posts and trusses are red iron and the siding is sheet metal. The building basically has no use other than for scrap. I am located in north central arkansas. Is there any way one could estimate the value of the building? Thanks



  2. #2
    Patriot76's Avatar
    SMF Badges of Honor


    Member since
    Dec 2012
    Location
    Buffalo Commons
    Posts
    2,596
    Thanks
    9,341
    Thanked 6,438 Times in 1,984 Posts
    Welcome to SMF from the Dakota's. The real question is how much it will cost in demolition to remove the building. A square foot of quarter inch steel weighs 10 lbs. With this figure and local prices you can figure the value of the steel. Even at salvage prices much less scrap prices in the current market, you would have to pay to bring the building down. This was usually true even during the bull market of steel.
    Give back more to this world than we take.

  3. The Following User Says Thank You to Patriot76 for This Post:


  4. #3
    SMF Badges of Honor



    Member since
    Jul 2011
    Location
    Jacksonville, NC
    Posts
    4,734
    Thanks
    14,579
    Thanked 5,583 Times in 2,577 Posts
    Check your local scrap yards for current prices for the steel. I don't scrap large projects but I feel certain that you will loose money if you don't charge for the removal.

    Taking on large projects when you don't know what you are doing will likely get you into trouble. 73, Mike
    "Profit begins when you buy NOT when you sell." {quote passed down to me from a wise man}

    Now go beat the copper out of something, Miked

  5. The Following User Says Thank You to miked for This Post:


  6. #4
    157buck started this thread.
    SMF Badges of Honor

    Member since
    Dec 2015
    Posts
    2
    Thanks
    0
    Thanked 0 Times in 0 Posts
    Well, I do not plan on taking the building down or anything like that. I am actually a real estate appraiser. I am trying to determine whether or not the building has any actual value or not. It is in an old part of down that is basically a ghost town. It has no commercial appeal or use. So the only thing that could possibly be done to the building is to remove it and sell the metal. I have no clue about salvage value or scrap value. I have a hard time believing that the building is not worth something, however if the cost to take the building down (likely need a crane or some sort of boom truck) out weighs the salvage or scrap price then I guess it is worth nothing.

  7. #5
    msmoorad's Avatar
    SMF Badges of Honor


    Member since
    Apr 2013
    Location
    Durban, South Africa
    Posts
    629
    Thanks
    637
    Thanked 706 Times in 335 Posts
    Quote Originally Posted by 157buck View Post
    Well, I do not plan on taking the building down or anything like that. I am actually a real estate appraiser. I am trying to determine whether or not the building has any actual value or not. It is in an old part of down that is basically a ghost town. It has no commercial appeal or use. So the only thing that could possibly be done to the building is to remove it and sell the metal. I have no clue about salvage value or scrap value. I have a hard time believing that the building is not worth something, however if the cost to take the building down (likely need a crane or some sort of boom truck) out weighs the salvage or scrap price then I guess it is worth nothing.
    basically, someone in your position should just try to work out approx how much the person tearing that building down should charge you.
    with steel prices being what they are, the scrap value of the steel in that building is negligible.

  8. The Following User Says Thank You to msmoorad for This Post:


  9. #6
    SMF Badges of Honor


    Member since
    Apr 2015
    Posts
    1,219
    Thanks
    465
    Thanked 1,959 Times in 783 Posts
    As a baseline I used $1.00 sq ft, 70 x 200= $14,000.00 that some farmer would gladly pay for and remove the building.

    Make a good building for a hay barn, equipment storage or feed lot.

    Used Rusty corrugated roofing is selling at $1.50 a square ft. Rusty Tin Barn Roof Sheets

    Last edited by alloy2; 12-22-2015 at 03:29 PM.

  10. The Following User Says Thank You to alloy2 for This Post:


  11. #7
    SMF Badges of Honor

    Member since
    Jul 2019
    Location
    Canada
    Posts
    147
    Thanks
    50
    Thanked 85 Times in 57 Posts
    Like so many threads started on this forum, we never get to know the ending.


  12. Similar threads on the Scrap Metal Forum

    1. Difference between Cast Iron and Heavy Iron
      By TheeFirewoodGuy in forum Scrap Metal Identification
      Replies: 6
      Last Post: 06-30-2013, 09:05 PM
    2. Short Iron VS Long Iron
      By Bear in forum Scrap Metal Tips and Advice
      Replies: 19
      Last Post: 06-21-2012, 08:35 PM
    3. Water pipes grey cast iron and ductile iron
      By DuctileIronPipe in forum Introduce yourself
      Replies: 3
      Last Post: 06-13-2012, 08:27 PM
    4. difference between cast iron and reg iron
      By hazelj in forum Scrap Metal Tips and Advice
      Replies: 11
      Last Post: 02-02-2012, 03:10 PM
    5. Does cast iron pay more than light iron?
      By ScrapperNJ26 in forum Scrap Metal Questions and Answers
      Replies: 2
      Last Post: 03-20-2011, 09:03 PM

Thread Information

Users Browsing this Thread

There are currently 1 users browsing this thread. (0 members and 1 guests)

 
Browse the Most Recent Threads
On SMF In THIS CATEGORY.





OR

Bookmarks

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
  •  

The Scrap Metal Forum

    The Scrap Metal Forum is the #1 scrap metal recycling community in the world. Here we talk about the scrap metal business, making money, where we connect with other scrappers, scrap yards and more.

SMF on Facebook and Twitter

Twitter Facebook