Tenant Improvement Per Square Foot Calculator

Tenant improvement (TI) is typically quoted per square foot. This calculator converts total TI to $/SF and shows total concession stack when combined with LC and free rent.

Total TI allowance

Leased square footage

Lease term (years)

TI per SF (total)

$50.00

TI per SF per year

$7.14

TI per year

$71,429

How the math works

TI $/SF is the standard market comparable. Commercial brokers quote it as shorthand: 'market is $50 TI for 7 years on class-A office.'

Combine TI PSF with LC PSF and free rent equivalent to get a true 'all-in concession' view. A lease with $50 TI + $8 LC + 6 months free = richer economics than headline rent suggests.

How to Use

Enter total TI allowance.
Enter square footage.
Enter lease term in years.
Read TI $/SF total and annualized.

Frequently Asked Questions

What's typical TI?

Office new build-out: $50-$125/SF depending on class and market. Office renewal: $10-$40/SF. Retail vanilla shell: $20-$75/SF. Industrial: $5-$25/SF mostly for office build-out within.

What's covered?

TI allowance typically covers architectural/design, construction, HVAC, electrical, mechanical, flooring, paint, millwork, and permits. Not data/IT cabling, furniture, or tenant-branded finishes.

Cash vs reimbursement?

Most TI is paid as reimbursement on lien-waived invoices. Some LLs do turn-key (LL hires GC, delivers finished space). Turn-key saves tenant hassle but caps upside.