Finance category
Mortgage, loan, investing, tax, and money calculators.
Blended Rent Step Calculator
Step rents roll up to a blended average. This calculator computes it.
Blended rent PSF
$36.85
Total rent (face)
$5,342,662
Rent NPV
$3,652,320
How the math works
Each year's rent = Y1 PSF × (1+step)^(y−1) × SF × adj months/12. Sum for total. Discounted for NPV.
$32 + 3% steps × 10 yr, 15k SF, 4 months free: total ~$5.36M face, blended ~$35.7/SF, NPV ~$3.7M at 7%.
How to Use
- Enter Year 1 rent PSF.
- Enter annual step %.
- Enter term years.
- Enter rentable SF.
- Enter free rent months.
- Read blended rent PSF and NPV.
Frequently Asked Questions
Why blend?
Face rent schedules typically step annually. Underwriting requires a single blended figure comparable to market. Blended rent = total rent paid over term / total rentable months (excluding free rent adjustment for a straight average).
What about free rent?
Free rent months shift calculations. True effective rent nets free rent from total; blended face often reported gross. Always clarify which — face rent is stronger for comps, effective rent is stronger for NPV.
Which to use?
Blended face rent for market comparables and listing. Effective rent (PV-weighted, net of TI and free rent) for investment underwriting. Accountants use straight-line rent (total / months) for GAAP. Never conflate.
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