Institutional-grade underwriting models, practitioner references, and workbooks for U.S. CRE professionals. PDF + Excel. Unlocked, modifiable. Methodology disclosed inside every file. Free updates for life.
Tracker
Excel · Updated quarterly
Quarterly U.S. cap rate history across Office, Industrial, Retail, Multifamily, and Hospitality — with subtype detail, sector spreads, and an editable comp column. Methodology disclosed inside the workbook. Updated every quarter. Free to every subscriber forever.
Briefing
Email · Every U.S. weekday
Weekday morning research note on U.S. commercial real estate. Each issue isolates one analytical question and closes with the underlying data, sources, and methodology. Roughly 600–900 words.
Reference
PDF (122 pp) + Excel companion
Institutional-grade reference covering eight diligence workstreams: pre-LOI screen, financial, lease, physical, title/survey/zoning, legal/entity, market, and closing. Includes per-asset-class deltas, a 30-pattern red-flag library, and a 114-item document-request master list. Companion Excel DD Tracker mirrors the doc-request list with status validation and conditional formatting. Methodology and source citations inside.
Analyzer
Excel + PDF instructions
Drop in a rent roll and get a lease-expiration heatmap, occupancy analysis, rollover risk flags, and a dashboard summary. Covers multi-tenant office, industrial, retail, and mixed-use. Formulas live, assumptions disclosed, asset-class defaults pre-built. Pairs naturally with the Underwriting Suite models.
Underwriting model
Excel + PDF instructions
Institutional acquisition model for office — FSG, modified gross, expense-stop and base-year mechanics, full rent roll, lease expirations, opex build-up, capex, NOI waterfall, 10-year cash flow, DSCR, levered + unlevered IRR and equity multiple, sensitivity tables, return dashboard, assumptions tab. Covers CBD/suburban, Class A/B, medical, and creative-office structures.
Underwriting model
Excel + PDF instructions
NNN, dock vs. drive-in, flex-office, clear-height tier modeling, loading factor, power capacity. Full rent roll, lease expirations, opex build-up, capex, NOI waterfall, 10-year cash flow, DSCR, levered + unlevered IRR and equity multiple, sensitivity tables, return dashboard. Built for bulk industrial, last-mile, flex, and cold-storage underwriting.
Underwriting model
Excel + PDF instructions
Base rent + percentage rent, CAM reconciliation, anchor vs. inline structures, co-tenancy clauses, kick-out tracking. Full rent roll, lease expirations, opex build-up, capex, NOI waterfall, 10-year cash flow, DSCR, levered + unlevered IRR and equity multiple, sensitivity tables, return dashboard. Built for grocery-anchored, power-center, strip, and single-tenant NNN underwriting.
Underwriting model
Excel + PDF instructions
Unit-mix rent roll, market-rent overlay, loss-to-lease and concession tracking, RUBS income, vacancy and credit loss modeling, opex build-up by category, capex reserves, NOI waterfall, 10-year cash flow, DSCR, levered + unlevered IRR and equity multiple, sensitivity tables, return dashboard. Built for garden, mid-rise, and high-rise garden-style multifamily.
Underwriting model
Excel + PDF instructions
Horizontal and vertical development underwriting — land cost, hard costs, soft costs, financing costs, construction draw schedule, lease-up absorption, stabilized NOI, exit cap rate, development yield, levered + unlevered IRR and equity multiple, return-on-cost, sensitivity tables. Built for ground-up development underwriting across asset classes.
Workbook
Excel + PDF guide
Portfolio-level dashboard, lease-rollover heat-map, capex prioritization, and hold/sell/refi decision framework. Designed for the asset management cycle: quarterly review, NOI performance vs. budget, variance analysis, and ownership reporting. Replaces the end-of-quarter cobble-together with a structured quarterly operating cadence.
Toolkit
Excel + Word/PDF + LOI library
Three production tools in one pack. BOV Excel: quick broker opinion of value with cap rate and income approach tabs. OM template: institutional offering memorandum structure in branded Word + PDF format — cover, executive summary, property details, market section, financial summary, team. LOI library: 6 pre-drafted LOI forms (purchase, lease, NNN, gross, LOI to LOI, counter) with guidance notes.
Bundle — 5 models
5× Excel + suite PDF instructions
Office + Industrial/Flex + Retail + Multifamily + Merchant Development underwriting models, sold together. Each model is the full institutional standalone; the suite PDF covers cross-model consistency conventions and how to run parallel asset-class analysis. The institutional underwriting toolkit for a full-service CRE firm.
Individual models are $199 each ($995 value). Suite price: $747 — save $248.
Bundle — Complete catalog
All paid products
Every paid product in the TDB catalog in one purchase: The Due-Diligence Reference (PDF + Excel), Rent Roll Analyzer, all five Underwriting Suite models, the Asset Manager’s Quarterly Workbook, and the Broker’s Production Toolkit. The complete institutional practitioner toolkit.
Individual catalog value: $97 + $79 + $747 + $179 + $249 = $1,351. Full Suite: $897 — save $454.
Every tool ships with a methodology tab or appendix — sources, calculation logic, update cadence, and known limitations. See the About page for our firm-wide research process.
Workbooks ship as true Microsoft Excel (.xlsx) files — not Google Sheets exports. Formulas are live and modifiable. Drop them directly into your existing underwriting model.
Buyers of any paid product receive every future update at no charge. Cap rate data, transaction volume, and time-series content is refreshed on a published schedule. The update date is stamped inside each workbook.
Every paid product delivers a paired PDF guide and Excel workbook. The PDF explains the methodology, covers use-case scenarios, and references the Excel cells and tabs by name. The Excel is the working tool.
Delivered weekday mornings, U.S. Eastern. Includes the Cap Rate Tracker.