A Market Analysis Template for Comparing Office Lease Offers on One Page
A commercial real estate market analysis template, for an office tenant, is one page that puts two or three lease offers side by side. The top states your requirement. Each floor then gets a column with identical fields: rentable square feet, asking rent, term, free rent, improvement allowance, escalations, electricity and security. Two result rows follow, net effective rent and monthly cost per person, and three context rows record availability, comparable deals and leverage. There is no file to download here; the layout below is the template. On a search, Nomad fills it in for you.
Rather have a broker answer it for your team?Tell us team size and timing. A broker reaches out within the hour during business hours.
Fill in the template for meUpdated 2026-10-03 · Nomad Group
The header: your requirement
Four fields, filled in once.
- Headcount, now and when the plan is complete.
- Square feet, at 175 square feet a person.
- The date you need to be in.
- The monthly budget.
Every column below is judged against this line, so write it before any offer arrives.
The columns: one per floor, eight fields each
- Rentable square feet.
- Asking rent, per square foot per year.
- Term, in years.
- Free rent, in months, and where in the term they fall.
- Improvement allowance, per square foot, or the landlord's work.
- Escalations: the annual percentage, and any pass-through above a base year.
- Electricity: how it is billed, and the estimate per square foot.
- Security: the amount, and cash or letter of credit.
The first two fields are on every listing we publish. The Midtown floors below can serve as starting rows; the remaining fields come from each landlord's proposal.
The result rows, and how to fill them in
- Net effective rent. Total the rent over the term with escalations, subtract the free rent and the allowance, then divide by the rentable square feet and the years.
- Monthly cost per person. Turn the annual rent per square foot into a monthly figure: multiply by the square feet and divide by twelve. Add electricity. Divide by headcount.
One correction applies to both. The rent is charged on rentable square feet, and usable space is 15 to 25 percent lower, so write the usable figure beside each floor. Rent per square foot, explained covers the conversion.
The context rows: availability, comps, leverage
- Availability in the submarket, from the market report. Higher availability means more room.
- Comparable deals: signed leases close to this floor in size and class, with their effective rents.
- Leverage notes: how long the floor has been empty, what else you could take, how flexible your date is.
These three rows explain why one offer deserves a harder counter than another.
Nomad prepares the comparison on a search
On your search, we prepare this comparison as the proposals arrive. The comp row comes from our own deal records, which is the part a tenant cannot complete from public sources. In most transactions the landlord pays the broker fee.
The arithmetic behind the result rows is set out in this worked example of effective rent, where the higher asking rent turns out to be the cheaper deal.
Midtown office space available now
Live from our listings · cheapest first4 offices are available in Midtown right now, from 7,092 to 19,097 square feet, asking $79 to $130 per square foot per year on the 3 with a published rent. The Midtown median is $125.
- Floors
- 4
- Sizes
- 7,092-19,097 sq ft
- Asking rent
- $79-$130 / sq ft
- Median
- $125 / sq ft
- 1700 Broadway, Entire 26th Floor 13,266 sq ft $79/sq ft about 76 people
- 520 Madison Avenue, Partial 21st Floor 7,092 sq ft $125/sq ft about 41 people
- 277 Park Avenue, Partial 40th Floor 19,097 sq ft $130/sq ft about 109 people
- 45 West 45th Street, Entire 10th Floor 8,230 sq ft rent on request about 47 people
The full guide
This page is the short answer. The long one, with the numbers worked through, is here:
Related topics
- Real Estate Market Research: What an Analyst Reports and What a Broker Knows
- Real Estate Market Research for Startups: Do You Need a Research Company?
- Commercial Real Estate Market Research for Office Tenants: What to Read, What It Means
- Comparative Market Analysis for an Office Lease: Building a Comp Set and Using It
Is there a spreadsheet of this template to download?
No. We do not publish a file. The layout on this page is the template, and it copies into any spreadsheet in a few minutes: one column per floor, the fields above as rows.
How many offers should go on the page?
Two or three. With one there is nothing to compare, and beyond three the page stops being readable. If you have more candidates, use the header to cut the list first.
Which row decides between two offers?
Net effective rent decides the price, and monthly cost per person tells you whether the price fits the budget. Read both with the leverage notes, since the offer with more room to move may end up cheaper than it first looks.
Where do the numbers for the first two fields come from?
From the listings. Every floor we publish shows its size, and its asking rent wherever one is published. The block on this page shows the Midtown floors that way.
Talk to a broker
Want this answered for your team?
Tell us three things: team size, timing, budget. A first shortlist can be ready within 24 hours, with the asking rent on every floor that publishes one.
- Within the houra broker reaches out during business hours, no automated triage
- On your sidewe work for you on your search, and the landlord usually pays our fee
- Open pricingasking rent published for 46 of 49 floors, size and address for all
- 300+ officesdelivered in New York, 2M+ sq ft leased
Or call 646-688-3158
