Commercial rent roll template
A commercial rent roll in Excel, with the columns that make it usable for underwriting rather than just for record-keeping — and a worked example whose arithmetic holds.
What is in it
Three tabs. A blank rent roll with twelve columns and twenty-five rows. A worked example — a 184,500 SF industrial building with 162,000 SF leased across three tenants and one vacant suite. And a column-by-column guide to what belongs in each field.
The columns are the ones DealWise itself exports: suite, tenant, square feet, share of building, lease type, commencement, expiry, in-place rent per square foot, annual rent, escalations, guarantor and notes. Nothing was invented for the download.
Why most rent rolls are not underwritable
A rent roll kept for record-keeping answers who is in the building. A rent roll kept for underwriting has to answer what the income does next, and four columns decide whether it can.
The first is escalations. A roll that records only today's rent has lost every future increase in the lease, and a five-year model built from it is flat by construction. The second is lease type: a $7 NNN rent and a $7 gross rent are not the same rent, and a column that does not say which makes them look identical. The third is the vacant suite, which still has square footage — leaving it off overstates occupancy and everything derived from it. The fourth is the guarantor, where blank has to mean none rather than unknown.
The example adds up, deliberately
The four suites sum to 184,500 square feet and the three leased ones to 162,000. Every rent figure is the product of the two columns beside it.
That sounds like a low bar. It is not one most sample spreadsheets clear, and a template whose own example does not reconcile teaches the reader the wrong habit on the first screen.
Or skip the spreadsheet
Upload the documents and it fills itself in.
DealWise reads the leases, the amendments and the operating statement, and proposes every term with the clause it came from. The rent roll stays the system of record and NOI is derived from it, never typed beside it. Free plan, no credit card.