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What is your building worth?
Is it enough to retire on? Start here. A free commercial property valuation in about two minutes, and a plain look at what moves the number, so you can plan your next chapter.
Your building, in numbers
We're a buyer, so check our math.
- Cap rates from published market data, mostly CoStar, not from us
- The report behind your market, named
- Every step of the math shown
Want a straight number from a buyer who keeps their word?
Send the address. We look at it the way we would if we were buying it, and tell you what we think it's worth and why. If you have a rent roll, attach it and the answer gets sharper. If not, that's fine.
You'll hear from us within one business day. Not interested in selling yet? The number is still yours to keep.
Prefer to talk? Call or text617.398.4324
How we got this, and what it leaves out
The value
- Rent minus the costs you pay: your net operating income.
- Divided by the cap rate for your type of building and your market: the range for your market.
- Minus known repairs. A lease ending soon or a lot of empty space raises the cap rate.
The cap rates come from published market data, not from us. Where they come from
What it can't see
Lease terms, tenant credit, the roof itself, the market down the street. That's why a real number needs the leases, and why we'll tell you what we see when you send them. Before you sell to anyone, read our free seller guides.
This estimate is general information, not an appraisal, an offer, or tax, legal or investment advice. Talk with your CPA, attorney and financial advisor before making decisions about a sale.
Questions owners ask about this estimate
- Is this estimate biased because you're a buyer?
- No. We don't pick the cap rates. Our AI researched them from published market reports for your type of building and your area, and the math is the same one lenders and appraisers use. We show you the numbers and where they come from so you can check them. If any buyer, us included, offers you less than this range, ask them to show you why, in writing.
- Where do the cap rates come from?
- Not from us. Our AI read the quarterly reports commercial real estate firms publish for each market, most of them built on CoStar sales data, the database lenders and appraisers use, and pulled the cap rates for each type of building. Where no report covers your area, it estimated from the nearest market that has one, and we say so next to your result.
- How accurate is it?
- It is a range, not a price, and it is only as good as the rent and costs you enter. It can't see your leases, your tenants' credit or your roof, and those can move a real price a lot.
- Why is my number lower than I expected?
- Usually one of three things. Costs: owners often leave out property tax, insurance or management, and at an 8% cap rate every $10,000 of yearly cost takes about $125,000 off the value. Leases: a big lease ending soon makes buyers nervous, and they price that in. Repairs: a roof or HVAC that is due comes off the price, dollar for dollar. Check "What moves your number" next to your result.
- Could my building be worth more than this?
- Yes. A strong tenant on a long lease, rents below market that can go up, or extra land can all add value this calculator can't see. If that sounds like your building, send the address and tell us why. We'll tell you whether we agree.
- Why not price per square foot, or what the building next door sold for?
- Because a buyer pays for the income, not the square feet. Two buildings the same size can be worth very different amounts if one is full and the other is half empty. Price per square foot is a useful check, not the starting point.
- Does the value change over time?
- Yes. Your rent and costs change, and cap rates in your market move with interest rates and how many buyers are looking. Run it again with this year's numbers whenever you like.
- Do I have to give you my email to use it?
- No. We don't see your numbers unless you choose to send them to us. The address is only used to look up your market.
- What should I do with the number?
- Use it to decide whether selling makes sense, and to test any offer you get, from us or anyone else. Share it with your CPA and your attorney. Before you talk to any buyer, read our 12 questions to ask a buyer.
How buyers value a commercial property
A house sells on what the house next door sold for. A commercial building sells on the money it earns. That is why a commercial property valuation starts with rent, not square feet.
Net operating income
Take the rent you collect in a year. Subtract the costs you pay and your tenants don't: property tax, insurance, repairs and management. What is left is net operating income, or NOI. A building with $300,000 of rent and $40,000 of costs has an NOI of $260,000.
The cap rate
The cap rate is the yearly return a buyer wants for the risk they take. Divide NOI by the cap rate and you get a value. At an 8% cap rate, $260,000 of NOI is worth about $3.25M. At 7%, it is worth about $3.71M. A full building with long leases and a good roof earns a lower cap rate and a higher price. Short leases, empty space and old systems push the cap rate up and the price down.
What moves the number
Buyers look hardest at three things: how long your biggest leases run, how much space is empty, and what big repairs are coming. You don't have to fix them before you sell. A good buyer prices them in and tells you how, in writing.
Appraisal or valuation: which do you need?
A commercial property appraisal is a formal report from a licensed appraiser. Lenders, courts and estates ask for one, and it can take weeks and cost a few thousand dollars. A valuation like this one is a quick, honest range to help you decide whether selling makes sense. If you are thinking about selling, start here, then send the address and we'll tell you what we see.