Real estate firm equates Apple Store to White House
An average square foot of an Apple Store location is worth about as much as the White House's per-square-foot value.
That is what a bunch of people at real estate website Zillow.com who apparently have too much time on their hands have managed to calculate.
The presidential homestead is valued at $4,752 per square foot. Meanwhile, Apple apparently sells $4,709 worth of merchandise per square foot when you look at every Apple Store around the world.
The significance of this story is not in trying to legitimately compare an average Apple Store at the mall to the humble abode of our commander in chief.
Rather, it is to highlight just how powerful the Apple brand is. With the outlier exceptions of tiny luxury retail boutiques in New York City and the like, Apple Store's sales-per-square-foot ratio is almost unheard of.
For example, Tiffany's garners an average of around $2,974 per square foot. And that is the second-best, behind Apple. That just goes to show how much more valuable the Apple Store brand is.
Granted, Apple Stores are traditionally very small and many of their products are high-end, but it is still a mainstream store.
And it's not like the retail chain has a huge history. The first store opened just over 10 years ago. Today, there are 357 Apple Store locations reaching a total of 3 million square feet of retail space. You can do the math.