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If a master suite was created out of existing space in a home, what is the approximate added value?

The space is "useless" as it was used as a small boutique business. It has several small storage rooms and a "cash register" area and a commercial bathroom, and nothing that could be used by a family. If transformed into a master suite, adding a bedroom and full bath to the home, plus all the top amenities expected from a master suite, how much value would this add? The home is in the "upscale" price range for the area. This is a residential area that does have limited businesses within a few blocks. The former owner was granted a variance and it does not pass on. There were very strict rules for the variance and for reasons too long to explain, the city will never allow any business there again.

Public Comments

1. at least 30,000 worth of alue to your home its an additinal bathroom and top of the lin eit is a definite plus, ask an apraiser to com in and do an evaluation usually costs 300 bucks for a real estimate!
2. It depends on how much homes with the new bed/bath specs and the new square footage are selling for in that area. Not knowing anything about your square footage, your neighborhood, or your market, I am going to say $10-20,000.
3. You added a lot of value to your home. I would estimate around $20,000. But you can call a Realtor and ask for a FREE CMA (current market analysis). They will gladly get you one.
4. Really no one will be able to answer your question without 1st hand knowledge of the neighborhood and your home and market place. I would suggest having an appraiser or if you have a family member that is a active knowledgeable Realtor and explain what you have in mind to see if it is feasible to get your money out of the increased cost basis that your projecting. Something doesn't sound just right as you say its an upscale area yet part of this building was in commercial business at some point. You might be better off redoing it as a business area instead of a Master bdrm area.