DealWise AI never uses a seller's cap rate — which is how it can check one
Its underwriting software builds net operating income from the leases and leaves the figure in the offering memorandum untouched, then reports the distance between them in basis points.
FORT WORTH, Texas — 20 September 2026
DealWise AI has built a check into its commercial real estate underwriting software that most of the category cannot perform: it reports, in basis points, the gap between the cap rate a seller publishes and the one the property’s own leases support.
It works because of what the software refuses to do.
Terms from an executed lease — suite, tenant, area, dates, rent, lease type — are contractual, and get filled into the model against the clause they came from. Figures the seller asserts — asking price, stated cap rate, pro-forma net operating income — are captured, displayed, and never used as inputs.
That leaves two independent numbers on the screen at once. One is derived from the rent roll and the real operating expenses. The other is the seller’s. The software subtracts them and shows the result.
Software that has already absorbed the seller’s net operating income has nothing left to check it with. The figure it would need to test has become part of its own answer.
A gap is a question, not a verdict. A difference between the two rates does not mean anyone has overstated anything, and in most cases it is not a dispute about honesty but about assumptions — a vacancy allowance one party included and the other left out, replacement reserves omitted, a management fee set by an owner who manages the building themselves, or in-place rent still counted on leases that have already expired.
An offering memorandum is a marketing document that happens to contain numbers. It is written by the seller’s broker to sell a building, which is its job, and it does that job well enough. The mistake is treating it as a source of facts.
Each of those gaps is a reasonable thing to ask a broker about. All of them are easier to ask about with a number attached.
About DealWise AI
DealWise AI is commercial real estate underwriting software for investors, brokers and operators. It is built on the principle that the rent roll is the system of record: net operating income is always derived from the leases rather than entered beside them, so every figure in a deal traces back to a document. The company is based in Fort Worth, Texas.
Press enquiries: contact the team.