What it does
Market Rent tells you what one space lets for today. It reads signed and asking leases around the property — not a sale price — and returns a rent with the lease comps behind it, and where your space sits: under-rented, at market or over.
When to use it
Use it before you set an asking rent, renew a lease, or test the rent line of a deal. It answers for one space at a time.
Do not ask it for a cap rate, an NOI or a sale value: No cap rate, no NOI, no sale value — for those, use Underwriting or Value Opinion. See Underwriting and Decision support.
How to use it
- Open Market Rent under Analysis in the left list. The first tab is New rent opinion.
- Answer What does this space rent for?: type the address. The box starts with Fair market rent for and your address.
- Add the size and the lease basis if you know them. Rents come back in $/SF/year NNN unless you say otherwise, so say so if your lease is gross or modified gross.
- Press Start. The run opens in its own room.
What you get back
The entry screen lists it before you start:
- Market rent for the space;
- Per month / per year;
- The lease comps the rent is read from;
- Your position: under-rented, at market, or over-rented.
The files the run writes appear in its Results panel as they are ready. Past runs are on the Rent opinions tab.