Compare Lease Deals.
See the True Cost.
Choose with Confidence.
The CRELYTIC Lease Analyzer compares up to 3 competing lease proposals side-by-side — calculating effective rent, NPV, TI/LC recovery, and break-even occupancy so you stop comparing apples to oranges.
What Sets Lease Analyzer Apart
Five analytical capabilities that turn lease proposals into clear economic comparisons.
Side-by-Side Comparison
Line up to 3 competing lease proposals in parallel columns and compare every economic term at a glance. Each proposal is broken into the same standardized structure — base rent, escalations, free rent, TI allowance, LC budget, and operating expense provisions — so you are always comparing like for like. No more toggling between tabs or re-formatting broker proposals to match your template.
When a landlord sends a revised proposal, swap it into the comparison and every calculated metric updates instantly. The side-by-side format ensures nothing gets lost between versions.
Effective Rent Calculation
Face rent is misleading. The Lease Analyzer computes true effective rent by adjusting for free rent periods, TI and LC amortization, escalation schedules, and operating expense pass-throughs. Whether a landlord offers 3 months free with lower TI or 6 months free with higher base rent, you see the real cost per square foot per year — the number that actually matters for your occupancy budget.
A deal with lower face rent and no free rent can cost more than a deal with higher face rent and 6 months of abatement. Effective rent strips away the packaging and shows you the economics.
NPV & Break-Even Analysis
Every lease has a present value, and the Lease Analyzer calculates it at your specific hurdle rate. Compare the NPV of each proposal to understand which deal delivers the most value in today's dollars. Break-even occupancy analysis tells you how full the building needs to be for each lease to cover its costs — critical context when you are evaluating proposals alongside vacancy risk.
Two proposals with identical effective rents can have very different NPVs depending on how cash flows are timed. A back-loaded escalation structure discounts differently than a front-loaded one.
TI/LC Recovery Modeling
Tenant improvement and leasing commission costs are significant landlord capital outlays. The Lease Analyzer models the recovery period for each proposal — how many months of net rent it takes to recoup TI and LC spend. It also calculates landlord net effective rent after accounting for these costs, giving you the true return on capital deployed for each deal.
A 10-year lease with high TI may have a shorter recovery period than a 5-year lease with moderate TI. Recovery period, not just TI per square foot, determines whether the deal pencils from the landlord side.
Market Spread Analysis
The Lease Analyzer compares each proposal's rent against current market comparables and calculates the spread — how far above or below market each deal sits. It also computes the rent escalation CAGR across the full lease term, so you can see how starting rent and growth rates interact over time. A below-market starting rent with aggressive escalations may cross above market midway through the term.
Knowing where a lease sits relative to market is essential for both tenant budgeting and landlord underwriting. A 5% premium to market today might be a 10% discount by year 5 if market rents are growing faster than the contractual escalation.
See It In Action
Interactive preview with sample data
Effective Rent
$32.50/SF
adjusted for concessions
▲ 4.8% vs market avg
NPV
$2.1M
at 8% hurdle rate
▲ 7.7% vs Proposal B
TI Recovery
18 mo
payback period
▼ 12.0% vs market avg
Spread vs Market
+$1.20/SF
above market rate
▲ 3.9% premium to comps
Lease Proposal Comparison
Starbucks (A) vs Coffee Works (B) vs Market Comp -- key metrics
Side-by-Side Lease Comparison-- 3 proposals evaluated
| Metric | Proposal A | Proposal B | Market |
|---|---|---|---|
| Tenant | Starbucks | Coffee Works | Market Avg |
| Base Rent ($/SF) | $34.00 | $31.50 | $32.00 |
| Free Rent | 3 months | 4 months | 2 months |
| TI Allowance | $45/SF | $55/SF | $40/SF |
| Lease Term | 10 years | 7 years | — |
| Annual Escalation | 3.0% | 2.5% | 2.8% |
| Effective Rent | $32.50 | $30.75 | $31.00 |
| NPV | $2.10M | $1.84M | $1.95M |
Built for Every Seat at the Table
From landlords to tenants — Lease Analyzer adapts to your side of the deal.
For Landlords
You have three prospective tenants competing for the same 12,000 SF space, each with different deal structures — one wants 6 months free with standard TI, another proposes higher base rent with no concessions, and the third wants a shorter term with a renewal option. The Lease Analyzer lines up all three proposals and shows you the net effective rent, NPV, and TI recovery period for each. You stop guessing which deal is better and start choosing based on economics.
For Leasing Brokers
Your client asks you to recommend the best proposal from a shortlist of three. Instead of building a one-off spreadsheet, you run all three through the Lease Analyzer and present a clean comparison — effective rent, escalation CAGR, NPV at the client's hurdle rate, and market spread. The output is clear enough for a principal to review in five minutes and confident enough for an investment committee presentation.
For Tenants
You are evaluating office space across three buildings with different landlords, different base years, and different escalation structures. One offers a gross lease with 3% annual bumps, another is a modified gross with CPI adjustments, and the third is a net lease with fixed dollar escalations. The Lease Analyzer normalizes all three to effective rent per square foot so you can compare the true occupancy cost regardless of lease structure.
For Asset Managers
A key tenant's lease expires in 18 months and you need to model retention economics versus releasing. The Lease Analyzer compares the renewal proposal against two market-rate new tenant scenarios — factoring in downtime, TI for a new tenant, leasing commissions, and the lost rent during vacancy. You see exactly how much retention is worth versus rolling the dice on the leasing market.
Platform Capabilities
Frequently Asked Questions
Common questions about CRELYTIC Lease Analyzer and lease deal comparison.
How Commercial Lease Analysis Works
Commercial lease analysis is the process of evaluating and comparing lease proposals to determine the true economic cost or value of each option. Unlike residential leases where rent is straightforward, commercial leases involve complex structures — base rent escalations, tenant improvement allowances (TI), leasing commissions (LC), free rent periods, operating expense pass-throughs (CAM, NNN, modified gross), and renewal options that make direct comparison between proposals difficult without proper financial modeling.
The key metrics in CRE lease analysis include effective rent (the true annualized cost after accounting for all concessions and escalations), net present value (NPV) of the total lease obligation, landlord's internal rate of return (IRR), TI/LC recovery period, and break-even occupancy — the minimum occupancy level at which the landlord covers debt service and operating costs. These metrics allow landlords and tenants to compare proposals on an apples-to-apples basis regardless of how the economics are structured.
The CRELYTIC Lease Analyzer provides side-by-side comparison of up to 3 lease proposals simultaneously. Input the base rent, annual escalations, TI allowance, free rent months, and lease term for each proposal and the tool automatically calculates effective rent, NPV, TI/LC recovery, and break-even occupancy with real-time visualization. This eliminates the spreadsheet gymnastics that typically accompanies lease negotiations and gives both landlords and tenants clear visibility into the true economics of each deal.
Enterprise lease analysis platforms like MRI ProCalc ($5,000+/year) and CoStar Lease Analysis offer similar capabilities but at institutional price points. The CRELYTIC Lease Analyzer is free to use at crelytic.ai/lease-analyzer — designed for CRE brokers, landlords, and tenants who need quick, accurate lease comparison without an enterprise software commitment.
Stop Comparing Leases in Spreadsheets
Your lease comparisons live in one-off Excel models that take hours to build and break every time a landlord revises terms. Every hour your team spends re-formatting proposals is an hour they could spend negotiating better deals. CRELYTIC Lease Analyzer gives you a standardized, repeatable comparison in minutes.