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How to Use CompStak to Determine Market Rent?
When you’re calculating market rent, do you ever not have enough recent deals in the building to make an accurate estimation?
Whether you’re a real estate owner looking to mark your building to market—or as a lender, wanting to make sure your portfolio loans are not made up of overvalued leases—or as a CRE broker, who wants to make sure your clients are paying fair market value.
CompStak—the leading commercial real estate data and analytics platform—has the answer.
CompStak’s market rent calculation tells you what the rent should be for a building or even for a specific floor of a building.
Imagine you work in leasing and need to figure out how much to charge in rents should be at Manulife Plaza. Let’s see how you can do that on our platform.
Here’s what the CompStak market rent calculation looks like in Los Angeles:
First, type Manulife Plaza into the search bar and click on the building name. Now, that you are zoomed into the right address, click view detailed property info. Not only can you view all the leases CompStak has collected in this building, but you can also scroll down to CompStak’s Instant Competitive Set feature.
Based on this table, you can see the market rent for not only Manulife Plaza, but also the competitive buildings.
Based on the recent deals and other factors like building size, you now know that tenants should pay around $3.20/PSF for that building and you can compare that to what tenants are paying in similar buildings.
You can add this market rent value to your proformas to project rents for vacant spaces.
With the market rent and competitive set feature, you’re able to better price your space so that you remain competitive in the market.
Just like that you were able to run a search on CompStak that marked your property to market, and reviewed detailed comp information to enhance your market knowledge.
CompStak saves you time and human effort by providing you the ability to streamline your market rent estimation process. Analyze more opportunities faster, and more accurately – while using the highest data quality available today.
Interested in exploring CompStak yourself?
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