Rent Per Square Foot Calculator
Calculate rent per square foot for apartments, offices, retail spaces, warehouses, and other rental properties.
Rent Per Square Foot Calculator
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Rent Per Square Foot Formula
Rent per square foot is used to compare leases across different commercial and residential spaces on a fair basis. It removes the effect of size, letting you compare value directly.
An office space renting for $3,000/month at 1,200 sq ft = $3,000 ÷ 1,200 = $2.50/sq ft/month or $30/sq ft/year. Commercial leases typically quote annual rates; residential leases quote monthly.
Triple Net (NNN) vs. Gross Leases
In a NNN lease, the tenant pays base rent plus taxes, insurance, and maintenance separately. In a gross lease, those costs are bundled into the rent. Always clarify which type before comparing PSF figures.
How to Compare Rental Spaces
- Collect lease info: Monthly or annual rent and the usable square footage for each option.
- Calculate rent per sq ft: Divide rent by square footage.
- Adjust for lease type: Add estimated NNN costs if comparing gross vs. NNN leases.
- Compare the values: Lower PSF means better value per square foot of space.
Typical Commercial Rent Ranges (US)
| Space Type | Avg. Annual Rent/Sq Ft |
|---|---|
| Retail (suburban) | $15–$30/sq ft/yr |
| Office (Class B) | $20–$40/sq ft/yr |
| Office (Class A) | $40–$80/sq ft/yr |
| Industrial/Warehouse | $5–$15/sq ft/yr |
| Flex Space | $10–$20/sq ft/yr |
All Square Foot Calculators
Choose a specialized calculator for your specific project type.
Frequently Asked Questions
Divide the monthly (or annual) rent by the square footage. A $2,400/month apartment with 800 sq ft = $2,400 ÷ 800 = $3.00/sq ft/month.
US office rent averages $20–50/sq ft/year depending on class and location. Class A downtown space can exceed $80/sq ft/year. Suburban Class B space typically runs $15–30/sq ft/year.
Usable sq ft is the space your business actually occupies. Rentable sq ft includes a pro-rata share of common areas (lobbies, hallways, restrooms). Commercial leases charge on rentable sq ft.
Divide by 12. An annual rate of $36/sq ft = $36 ÷ 12 = $3.00/sq ft/month. For a 1,000 sq ft space, that is $3,000/month.
In a NNN lease, add the estimated NNN costs (typically $3–8/sq ft/year) to the base rent per sq ft to get the true cost of occupancy. Always include NNN when comparing leases.