Everything You Need to Underwrite Commercial Real Estate Deals
Drop in the lease and the offering memorandum. DealWise reads them, builds the rent roll suite by suite, and models every month of the hold — NOI, recoveries, debt service, DSCR, re-leasing and the exit — with the AI reading alongside you the whole way.
What you can actually do with it
Product is what DealWise can do. This is what that lets you get done — the jobs, start to finish.
Every job below runs on the same foundation: the rent roll, built from your documents rather than typed in. That is the difference worth understanding — the capabilities behind these are shared, so the answer you get on a lease decision and the answer you get on an acquisition come from one model of the building.
Buying
Decide whether to buy
From a stack of documents to a buy, hold or pass.
The whole job, end to end. Drop in the offering memorandum, the leases and the operating statement; DealWise reads them, builds the rent roll, models every month of the hold and ends with a written verdict that cites the clause it rests on. You are reviewing an answer rather than assembling one.
Uses: Upload & auto-build · Rent roll builder · Cash flow modeling · AI deal analysis
Check whether an OM is honest
The seller's cap rate, against what the rent roll supports.
An offering memorandum is a marketing document. Its stated cap rate is captured and displayed but never used as an input, which is exactly what makes the comparison possible: the gap between what the seller claims and what your rent roll and the real expenses actually support, in basis points.
Uses: Upload & auto-build · Stated vs derived check · Rent roll builder
Check an asking price
What the income supports, against what they are asking.
Value the income at a cap rate you believe rather than the one printed on the flyer, and see what the asking price implies about the buyer's assumptions. Useful before you spend a week on diligence, and useful again when you write the offer.
Uses: Stated vs derived check · Cash flow modeling · Exit & sale modeling
Screen a pipeline fast
Kill the bad ones early, without a spreadsheet each.
Most deals do not close, so the economics of underwriting are set by how cheaply you can say no. Starting a deal from its documents rather than a blank model makes a first pass cheap enough to run on everything, which is how the bad ones get found in an hour instead of a week.
Uses: Upload & auto-build · AI deal analysis · Deal audit
Financing
Size the loan
The largest loan the income actually supports.
Debt service, DSCR and debt yield from the NOI the rent roll produced, plus the loan each test allows. Debt yield usually binds before DSCR does, and it cannot be improved by a longer amortization — which is why a deal that looks financeable on one test often is not on the other.
Uses: Debt modeling · Cash flow modeling
Brief a lender
The coverage package, with the documents behind it.
DSCR, debt yield and break-even occupancy computed from the leases rather than asserted, and the cash flow model and lease abstracts downloadable to send with them. A lender who can trace your NOI back to a clause asks fewer questions.
Uses: Debt modeling · Lease abstraction · Exports
Leasing
Decide whether to sign a lease
Proposals compared on what they actually cost.
Face rent is not comparable across lease structures. Free rent, improvement allowances and who pays the operating expenses all move the real number, so proposals are normalised to net effective rent and total occupancy cost before they are ranked.
Uses: Lease abstraction · Lease comps · Cash flow modeling
Plan for lease rollover
What happens to income when the leases actually roll.
Expirations grouped by year and weighted by rent, so clustering shows up instead of hiding behind an average. Each suite carries its own re-leasing assumptions, and for retail the co-tenancy clauses are read too — so an anchor going dark shows up as a number rather than a worry.
Uses: Rollover & re-leasing · Co-tenancy stress test · Tenant credit & guaranty
Selling & trusting it
Price a listing to sell
A defensible asking price, from the rent roll up.
For the other side of the deal. A price opinion built from the actual rent roll and a market cap rate, with the range and the reasoning behind it — the information you need to write the proposal, rather than a generated document you would have to check anyway.
Uses: Listing price opinion · Rent roll builder · Lease comps
Test assumptions
Change one input and watch what it does to the answer.
Every assumption is editable and everything downstream recomputes from the rent roll — exit cap, growth, vacancy, loan terms. The point is not the number it lands on but which assumption the deal is actually sensitive to, because that is the one worth arguing about.
Uses: Cash flow modeling · Exit & sale modeling · Debt modeling
Find errors before your lender does
The mistakes that recur, caught on your side of the table.
Suites named after the property, rent that does not reconcile to its schedule, dates that cannot be right, expenses on the wrong side of the NOI line. These are cheap to fix when you find them and expensive when somebody else does.
Uses: Deal audit · Operating statement reading · Rent roll builder
Build Detailed Rent Rolls in Minutes
Create and manage comprehensive rent rolls with per-suite lease terms and rent schedules. DealWise AI handles the complexity of multi-tenant commercial properties so you can focus on the deal.
Suite-Level Detail
Add individual suites with square footage, tenant names, lease types (NNN, gross, modified gross), and commencement and expiration dates.
Rent Schedule Management
Define dated rent steps with per-SF rates. Track stair-step schedules across the full lease term.
Occupancy Tracking
Monitor occupancy rates, calculated automatically from the rent roll.
Built for How CRE Professionals Actually Work
Every feature in DealWise AI was designed around the real workflows of commercial real estate investors, brokers, and analysts.
Underwrite in Minutes, Not Hours
Enter your deal parameters once and DealWise calculates everything: cap rates, NOI, and multi-year cash flow projections. No formulas to build, no cells to debug.
Everything Connected
Change a lease expiration or rent escalation on one suite and it cascades instantly through your rent roll, cash flow projections, and summary metrics. No copy-paste errors, no broken references.
Asset Classes
Industrial, retail, and office — with building specifications like clear height and dock loading. NNN, gross, and modified gross lease structures supported at the suite level.
Document Security
Upload lease agreements and tenant financials with explicit authorization controls. Documents are processed for AI analysis and stored securely — DealWise never claims ownership of your uploaded files.
Works Everywhere
DealWise AI runs in your browser on desktop, tablet, and mobile.
DealWise AI vs. Spreadsheet Underwriting
See why commercial real estate professionals are switching from Excel to purpose-built underwriting software.
The short version: a spreadsheet stores numbers, but it does not know what they mean. Every model is built from scratch, every link between the rent roll and the cash flow sheet is hand-wired, and a single edited cell can quietly change the answer without changing anything you can see. DealWise derives NOI from the rent roll, so the model cannot drift away from the leases underneath it.
The full comparisons — against Excel, ARGUS and TheAnalyst PRO — are below.
| Spreadsheets | DealWise AI | |
|---|---|---|
| Setup time per deal | 2–4 hours | Under 15 minutes |
| Formula errors | Common | Impossible |
| AI analysis | Not available | Built in |
| Rent roll management | Manual tabs | Automated |
| Cash flow projections | Build from scratch | Auto-generated |
Excel alternative for CRE underwriting
What breaks in a spreadsheet model, and what a rent-roll-driven engine does instead.
ARGUS alternative
Institutional-grade underwriting without the licence, the demo, or the training week.
TheAnalyst PRO alternative
Deeper modeling — rent rolls and multi-year cash flow, not just a one-page summary.
Best CRE underwriting software (2026)
The whole field ranked and compared, with honest pros, cons and pricing.
Understand the Metrics Behind the Features
Learn the CRE concepts that DealWise AI automates.
What Is a Rent Roll?
The foundation of the Lease Modeling feature.
What Is NOI?
The income metric behind every underwriting calculation.
What Is DSCR?
How DealWise evaluates your financing structure.
What Is Cash on Cash Return?
The annual cash return on the equity invested.
How to Underwrite a CRE Deal
The full process that DealWise AI automates.
Commercial Real Estate Metrics
Every metric DealWise calculates — explained.
Start Underwriting Smarter Today
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