Commercial Development Model

Commercial Development Model
Commercial Development Model
$49.99

Underwrite ground-up commercial development deals in minutes, not days. This fully-integrated Excel model handles the entire deal lifecycle: construction budgeting, monthly draw schedules, construction-to-perm financing, suite-by-suite lease-up, and a 5-tier equity waterfall, all driven from a clean, color-coded assumptions tab.

What's Inside

Suite-by-Suite Rent Roll & Lease-Up Engine

  • Detailed rent roll with per-suite terms: rent, escalations, free rent, TI/LC, recovery structure (NNN, Modified Gross, Fixed)

  • Auto or Manual lease-up modes. Set an absorption pace and let the model lease vacant suites automatically, or hand-schedule each suite's start date

  • Market leasing assumptions (up to 4 MLA profiles) with renewal probability, downtime, and rollover economics

Full Development Budget with Cost Curves

  • Land, hard, and soft cost line items with individual start/end dates

  • Linear or S-curve (normal) cost distribution for realistic monthly draws

  • Automatic sources & uses with operating deficit funding and prepaid interest

Construction + Refinance Debt Module

  • Construction loan with I/O period, origination fees, and prepaid interest

  • Built-in refinance logic: perm loan sized off forward NOI and cap rate, with amortization, prepay penalties, and payoff timing

  • Fixed or floating rate structures with SOFR curve, spread, rate cap, and floor

5-Tier Equity Waterfall

  • IRR-based promote structure with preferred return, GP/LP splits, and sponsor fees (asset management, disposition)

  • Full partnership returns: profit, IRR, and equity multiple by entity

Structure

10 tabs, cleanly separated into Inputs (Unit Mix, Costs, Assumptions), Outputs (Investment Summary, Annual P&L), and Calculations (Monthly P&L engine, Waterfall, Debt Tables), with a Navigation tab so you always know where everything lives.

Who it's for: Developers, sponsors, acquisition analysts, and brokers underwriting ground-up commercial projects (office, retail, industrial, flex).

Underwrite ground-up commercial development deals with an institutional-grade Excel model. One integrated file takes you from land acquisition through lease-up, refinance, and exit.

  • Full deal lifecycle: construction budget with cost curves, SOFR-based construction and refi debt, and a 5-tier equity waterfall

  • Suite-by-suite lease-up engine with auto or manual absorption and market leasing assumptions

  • IC-ready outputs: one-page investment summary with IRR, equity multiple, DSCR, and built-in error checks

Commercial Development Model
Commercial Development Model
$49.99

Underwrite ground-up commercial development deals in minutes, not days. This fully-integrated Excel model handles the entire deal lifecycle: construction budgeting, monthly draw schedules, construction-to-perm financing, suite-by-suite lease-up, and a 5-tier equity waterfall, all driven from a clean, color-coded assumptions tab.

What's Inside

Suite-by-Suite Rent Roll & Lease-Up Engine

  • Detailed rent roll with per-suite terms: rent, escalations, free rent, TI/LC, recovery structure (NNN, Modified Gross, Fixed)

  • Auto or Manual lease-up modes. Set an absorption pace and let the model lease vacant suites automatically, or hand-schedule each suite's start date

  • Market leasing assumptions (up to 4 MLA profiles) with renewal probability, downtime, and rollover economics

Full Development Budget with Cost Curves

  • Land, hard, and soft cost line items with individual start/end dates

  • Linear or S-curve (normal) cost distribution for realistic monthly draws

  • Automatic sources & uses with operating deficit funding and prepaid interest

Construction + Refinance Debt Module

  • Construction loan with I/O period, origination fees, and prepaid interest

  • Built-in refinance logic: perm loan sized off forward NOI and cap rate, with amortization, prepay penalties, and payoff timing

  • Fixed or floating rate structures with SOFR curve, spread, rate cap, and floor

5-Tier Equity Waterfall

  • IRR-based promote structure with preferred return, GP/LP splits, and sponsor fees (asset management, disposition)

  • Full partnership returns: profit, IRR, and equity multiple by entity

Structure

10 tabs, cleanly separated into Inputs (Unit Mix, Costs, Assumptions), Outputs (Investment Summary, Annual P&L), and Calculations (Monthly P&L engine, Waterfall, Debt Tables), with a Navigation tab so you always know where everything lives.

Who it's for: Developers, sponsors, acquisition analysts, and brokers underwriting ground-up commercial projects (office, retail, industrial, flex).

Samples

Committee Ready Cut Sheets

Suite-by-Suite Lease Engine

Granular Cost Details

Instituional MLA Dashboard

The Fractional Analyst’s
Commercial Development Model

Upgrade your underwriting process with our model that delivers speed, accuracy, and confidence across all your multifamily deals

Commercial Development Model
Commercial Development Model
$49.99

Underwrite ground-up commercial development deals in minutes, not days. This fully-integrated Excel model handles the entire deal lifecycle: construction budgeting, monthly draw schedules, construction-to-perm financing, suite-by-suite lease-up, and a 5-tier equity waterfall, all driven from a clean, color-coded assumptions tab.

What's Inside

Suite-by-Suite Rent Roll & Lease-Up Engine

  • Detailed rent roll with per-suite terms: rent, escalations, free rent, TI/LC, recovery structure (NNN, Modified Gross, Fixed)

  • Auto or Manual lease-up modes. Set an absorption pace and let the model lease vacant suites automatically, or hand-schedule each suite's start date

  • Market leasing assumptions (up to 4 MLA profiles) with renewal probability, downtime, and rollover economics

Full Development Budget with Cost Curves

  • Land, hard, and soft cost line items with individual start/end dates

  • Linear or S-curve (normal) cost distribution for realistic monthly draws

  • Automatic sources & uses with operating deficit funding and prepaid interest

Construction + Refinance Debt Module

  • Construction loan with I/O period, origination fees, and prepaid interest

  • Built-in refinance logic: perm loan sized off forward NOI and cap rate, with amortization, prepay penalties, and payoff timing

  • Fixed or floating rate structures with SOFR curve, spread, rate cap, and floor

5-Tier Equity Waterfall

  • IRR-based promote structure with preferred return, GP/LP splits, and sponsor fees (asset management, disposition)

  • Full partnership returns: profit, IRR, and equity multiple by entity

Structure

10 tabs, cleanly separated into Inputs (Unit Mix, Costs, Assumptions), Outputs (Investment Summary, Annual P&L), and Calculations (Monthly P&L engine, Waterfall, Debt Tables), with a Navigation tab so you always know where everything lives.

Who it's for: Developers, sponsors, acquisition analysts, and brokers underwriting ground-up commercial projects (office, retail, industrial, flex).

What our customers are saying

  • A smiling CRE professional in a suit standing inside a modern office building with glass walls.

    "The Fractional Analyst team stepped in when we had a gap in our analyst pool. They have been working with us for about two years. They have seamlessly provided the expertise and support we needed to streamline our operations and make smarter, data-driven decisions."

    Clay Heighten - Principal

    Caddis Partners

  • Commercial real estate professional with dark hair and beard wearing a blue suit and light blue shirt, smiling against a plain background.

    "Our family office needed a solution to manage legacy real estate assets. They have been instrumental to streamline our valuation and underwriting processes."

    James Gueits - Principal

    MHP Operator

  • A circular logo with a dark background and green outline, featuring a stylized tree design in green within.

    "We had a robust multifamily acquisition pipeline in Q2/Q3 '25 and needed additional support. The Fractional Analyst team knocked out over 50 underwritings for us in that time period and provided valuable market research in the process."

    Oakdale Capital

  • A middle-aged commercial real estate professional with a bald head and a gray beard, smiling, wearing a blue plaid button-up shirt, outdoors with green foliage in the background.

    "We had some advanced modeling needs in the affordable housing space. The Fractional Analyst team dove into our financial model and our comparables template and automated quite a bit, saving my team dozens of hours, so we can focus on doing deals. Great team!"

    Robert Sheppard - Founder, Managing Partner

    Vital Housing

  • A professional CRE analyst wearing glasses, a navy suit, light blue shirt, and a patterned tie, smiling against a plain gray background.

    "Having a tailored and precise model became the cornerstone of our capital raising efforts. The TFA team's ability to simplify complex structures gave me & my investors the confidence to move forward."

    Justin Britto - Founding Partner

    CenTria Living

  • A smiling CRE professional with dark hair and a beard outdoor in snow, wearing a checkered coat and a blue scarf, with a building and snow-covered ground in the background.

    "I needed a mixed-use development model that would impress key stakeholders. Their model provided an exceptional level of detail, making it easy to present insights to our investors."

    Tamer Celik - COO

    VisoneCo

  • Silhouette of a person's profile against a glowing blue circular background.

    "My banker was appalled with my partner's model. When he saw what The Fractional Analyst team put together, the approval process was infinitely smoother."

    Robert Dew - Principal

    Castello Divino

  • Close-up of a smiling commercial real estate professional man with glasses and gray hair, in an indoor setting.

    "Their meticulous attention to detail ensured my reports were backed by solid data. Their support has been invaluable, and I highly recommend their services to anyone in the industry!"

    Steven Fox - Appraiser

    Binyan Kesef

  • A young CRE professional with curly brown hair, wearing a dark jacket, standing outdoors with a beach in the background.

    "The Fractional Analyst team provided an institutional-grade industrial acquisition model and complementary pitch deck to support our capital raise. Great and efficient process!"

    Aiden Samuels - Partner

    Avid Asset Management

  • Abstract logo with white geometric lines on a gold background

    "We needed a debt book and supporting market data for a luxury for-sale home development in the rockies. The design and analyst team at The Fractional Analyst knocked it out of the park."

    Dean Sparks - Founder & CEO

    Altoma Real Estate Advisors

  • Silhouette of a man in profile against a backlit blue circle

    "I am a private practice physician. I have little experience with real estate finance. I engaged The Fractional Analyst team for financial modeling support. Not only did they provide a sophisticated model, they walked me through how to use it and present it to my bank. Exceptional team!"

    Parker Velargo - Physician

  • Multifamily and commercial real estate professional standing against a white wall, wearing glasses, a purple polo shirt, and black pants, with a slight smile.

    "I needed a model for single family development. The mixed-use development from The Fractional Analyst was a good start. Really looking forward to CoreCast!"

    Doug Taylor - Owner

    Safe Haven Homes, LLC

  • A young CRE professional with curly hair, glasses, and a beard, dressed in a suit and tie, posing against a neutral background.

    "I needed some additional support on a LIHTC underwriting project. The Fractional Analyst team had it turned back around in a week. Great group!"

    Delvin Hall - Founding Principal

    Onyx Equity Partners

  • A young commercial real estate woman with dark hair smiling outdoors with trees and water in the background.

    "I have downloaded a few resources from The Fractional Analyst. As a broker, it's always nice to have professional resources readily available to show to clients."

    Sarah Humbargar - Associate Broker

    Sherpa CRE

  • Silhouette of a man's profile in front of a bright blue circular background, dark surrounding.

    "The financial models from The Fractional Analyst are top notch. I purchased the multifamily acquisition model and the mixed-use development model. I needed a few upgrades, and the team was quick to provide them."

    Jason Glick - Principal

    GPG Properties

  • Silhouette of a person's profile in front of a bright blue circular background in darkness.

    "I had a hard time finding quality financial models until I came across The Fractional Analyst. Count me in as a lifelong customer!"

    Jason Beckstrom - Principal

    Beckstrom Company, LLC

  • A smiling middle-aged real estate professional with light skin, gray hair, wearing glasses, a white shirt, and a blue checkered blazer on a gray background.

    "I needed an equity waterfall added to my financial model. The Fractional Analyst team had a good template. I requested a couple tweaks, which they excecuted to my approval, and got the task done in just a few days."

    Todd Jensen - SVP Investments

    Sila Realty Trust

  • Silhouette of a man in profile against a bright blue circular background in a dark setting.

    "I work in the Data Center development space. Very few know how to build a data center development model. When I engaged The Fractional Analyst, I wasn't exactly sure what to expect. After just 3 weeks (with regular check-ins), I was blown away but what they had put together. I highly recommend their off-the-shelf and custom financial models."

    Joseph Strobele - Principal

    Crystal Peak Data Centers

  • Black and white photo of a smiling CRE professional with short hair.

    "We didn't have the bandwidth internally to create a financial model, but we desperately needed one. After working with The Fractional Analyst, we got exactly what we needed. Highly recommend!"

    James Alfandre - Principal

    Urban Alfandre

  • Close-up of a smiling commercial real estate professional with light skin and brown hair.

    "We work with the good ol' boys in real estate that for some reason are still doing $100M deals in their head. We engaged The Fractional analyst to check our partners' assumptions. We are sure grateful for their work!"

    Kirk Walton - Managing Principal

    GPWM Funds

  • A young CRE lender in a dark blue pinstripe suit with a white shirt and dark tie, posing against a plain gray background.

    "I had dozens of deals that I needed underwriting and diligence support on. The Fractional Analyst team stepped up and provided that support."

    Tyler Kight - Broker

    The Appanage Group

  • A CRE professional in a business suit and blue tie standing in a store or bar with shelves of bottles behind him.

    "I needed two financial feasibility studies done in two totally different markets. The Fractional Analyst team delivered on that request and did a great job, complete with financial models, market research, and stakeholder-ready presentations."

    Johnny Vassallo - Founding Principal

    MOS RE

  • White Stone Development Partners logo with gold and black text

    "We needed a new multifamily acquisition model. We also needed modeling support in our existing development model. The Fractional Analyst team did a great job on both."

    Whitestone Development Partners

  • A CRE professional with a shaved head and beard standing in front of a grey garage door, wearing a black t-shirt and a light denim button-up shirt with rolled-up sleeves.

    "Our group is headquartered in Toronto and invests into the States. We relied on underwriting and market research support from The Fractional Analyst. Fantastic team!"

    Jeff Webb - COO

    Made by Gatehouse

FAQ

  • After completing your purchase, you’ll receive an email with a secure download link. You can also access your files anytime through the confirmation page immediately after checkout.

  • Most downloads are provided in Excel (.xlsx), PDF, or PowerPoint (.pptx) formats depending on the product. Each listing specifies the exact formats included.

  • Absolutely. All templates are fully editable and fully unlocked. You can modify formulas, branding, and inputs to fit your project or client deliverable.

  • Your purchase email includes a download link valid for 24 hours. We update these files periodically. If you ever want an updated copy, reach out to us at info@thefractionalanalyst.com for a discount code (80% off current price). We’ll get you taken care of!

  • Due to the nature of the product being sold – digital file downloads – all orders are final. Your satisfaction is our highest priority. Please contact us at info@thefractionalanalyst.com with any comments/concerns. Thank you for your order!

  • Each purchase grants a single-user license. If you’d like to use the file across your firm or with multiple team members, please contact us for multi-user or firm-wide licensing options.

  • Our templates are optimized for desktop. Some functions may not work perfectly in Google Sheets or on Mac, though most users find they can still adapt the file with minor adjustments.

  • Yes — we specialize in custom real estate financial models and investment deck design. If you need a model/deck built or adapted for your unique deal structure, visit our On Demand Analyst page or email info@thefractionalanalyst.com

  • We offer 1:1 training for $145/hr. You can reach us at info@thefractionalanalyst.com to set up a call.