Feasibility study cost estimator.

Select the asset class, loan program, project type, project size, the number of operating scenarios, the market profile, and the delivery window. The estimator returns a low, most-likely, and high fee band drawn from prevailing 2026 pricing for third-party feasibility studies, positioned at the standard credit committees and agency reviewers expect from a lender-ready engagement. The figure updates instantly as parameters change, and a full breakdown is available beneath every result.

The fee for a feasibility study is a function of analytical depth, not page count. Seven factors account for nearly all of the variation in price across the market.

Asset class is the largest single driver. Special-purpose properties named under SBA SOP 50 10 8, including hotels, gas stations, car washes, senior living facilities, and golf courses, carry a higher fee than multi-purpose commercial real estate because they require demand modeling and capture-rate analysis that general office or retail does not.

Loan program shapes the scope of work. USDA engagements are governed by the independent qualified consultant rule under 7 CFR Part 5001 and typically command a 25 to 40 percent premium over comparable SBA work because the regulation codifies five feasibility dimensions and sets a higher bar for sensitivity analysis.

Project type determines the analytical method. A refinance of a stabilized operating asset can be benchmarked against historical performance, while ground-up construction and conversions require a demand model built from primary and licensed market data. Startup operators add further work because the analysis cannot rely on an operating track record.

Project size, scenarios modeled, market complexity, and timeline complete the picture. Larger projects carry more complex capital stacks, each additional downside or upside scenario requires its own financial model, rural and data-thin markets demand primary research rather than a standard data pull, and expedited delivery reallocates analyst capacity.

SBA 7(a) and SBA 504 feasibility studies generally cost $9,500 to $18,000 for a standard single-asset study and $18,000 to $32,000 for ground-up construction, special-purpose properties, or large hotels. SBA SOP 50 10 8, effective June 1, 2025, reinstated a list of roughly 24 special-purpose property types and requires or strongly recommends a third-party feasibility study for startups, complete changes of ownership, new construction, and major expansion projects. For these properties, the credit file typically pairs an experienced appraiser with an independent feasibility analyst. See the SBA SOP 50 10 8 overview.

USDA work is governed by 7 CFR Part 5001, which requires an independent qualified consultant and codifies five feasibility dimensions: economic, market, technical, financial, and management. USDA B&I studies typically cost $10,000 to $25,000 or more, REAP feasibility and technical reports run $7,000 to $15,000, and Community Facilities studies range from $15,000 to $30,000. The premium over comparable SBA work reflects the deeper sensitivity analysis and the National Office review the program applies. See the USDA loan programs overview.

Conventional commercial bank work tracks closely with SBA pricing. HUD and agency multifamily programs, including 221(d)(4), Fannie Mae, and Freddie Mac executions, typically add 15 to 25 percent because of the long amortization and the rigorous market study expectations, landing at $11,000 to $32,000. CMBS, life insurance company, EB-5, and institutional capital raises range from $25,000 to $95,000 depending on deal size, capital stack complexity, and the depth of the demand model required.

Standard delivery is 15 to 20 business days from engagement and receipt of project materials. Expedited delivery in 10 business days is available at a premium, and rush delivery in 5 to 7 business days is available at a higher premium. USDA, HUD, and complex industrial projects can extend to four to six weeks because of the depth of sensitivity analysis and review the programs require.

A lender-grade study is built to withstand credit committee and agency review. It opens with an executive summary and a clear feasibility conclusion, then sets out the market and demand analysis, a competitive set with capture-rate methodology, and a full financial model with a multi-year pro forma, debt service coverage, and break-even analysis. Site and technical feasibility, a management assessment, and a risk and sensitivity section complete the work. Each component is prepared from licensed market data and primary research, not borrower projections. Learn more about the methodology.