Warehouse Lease Cost Calculator
Estimate the total cost of a warehouse lease from square footage, base asking rent, term, escalation, NNN, free rent, and a TI allowance or upfront fit-out.
Warehouse lease cost calculator
Base asking rent prefills from the Q1 2026 (preliminary) Cushman & Wakefield overall asking rent. Escalation, NNN, free rent, and fit-out are inputs you supply.
Warehouse costs by city uses the same Q1 2026 (preliminary) asking rent.
Example size. Replace it with the building you are quoting.
Prefilled from United States (national): $10.20/sf/yr. Source / as of: Cushman & Wakefield, United States Industrial Marketbeat, Q1 2026 (preliminary). Overall weighted asking rent, NNN, all property types.
The prefilled figure is an overall weighted asking rent that Cushman & Wakefield defines as NNN. It is not a gross rent. Leave NNN at $0 unless your quote itemizes an extra operating-expense amount on top of base rent.
Example term. This site does not publish a typical lease length.
Your assumption. Example starts at 0%. Enter the percentage from your proposal. This site does not publish an escalation benchmark.
Escalation compounds on base asking rent only. The NNN estimate stays the same amount each year.
Your assumption. Example starts at $0.00/sf/yr. Enter the operating-expense estimate from your quote. A separate NNN amount is not in the cited Marketbeat.
Your assumption. Example starts at 0 months. Enter the free-rent period in your proposal. This site does not publish a free-rent benchmark.
Free rent is applied from the first month and abates base rent only. The NNN estimate stays payable during free-rent months. Set NNN to $0 if your quote abates operating expenses too.
Your assumption. Example starts at $0.00/sf. A TI allowance reduces net cost once. An upfront fit-out increases it once. This site does not publish a TI or fit-out benchmark.
Total lease obligation
$2,550,000.00
Over 5 years for 50,000 sf
- Effective average rent
- $10.20/sf/yr
- Average monthly cost
- $42,500.00
- Base rent paid
- $2,550,000.00
- NNN / operating expenses
- $0.00
- Free-rent abatement
- $0.00
- Upfront fit-out
- $0.00
Effective average rent is the total lease obligation divided by square feet and by years. Average monthly cost divides that same total by the months in the term. Free rent and the one-time build-out are spread across the term in those two averages.
Asking-rent source / as of: Cushman & Wakefield, United States Industrial Marketbeat, Q1 2026 (preliminary). Overall weighted asking rent, NNN, all property types. Escalation, NNN, free rent, and build-out use the values in the form.
Year-by-year rent
| Year | Base rent $/SF | Base rent | Free months | Abatement | NNN | Year total |
|---|---|---|---|---|---|---|
| 1 | $10.20 | $510,000.00 | 0 | $0.00 | $0.00 | $510,000.00 |
| 2 | $10.20 | $510,000.00 | 0 | $0.00 | $0.00 | $510,000.00 |
| 3 | $10.20 | $510,000.00 | 0 | $0.00 | $0.00 | $510,000.00 |
| 4 | $10.20 | $510,000.00 | 0 | $0.00 | $0.00 | $510,000.00 |
| 5 | $10.20 | $510,000.00 | 0 | $0.00 | $0.00 | $510,000.00 |
Year totals are base rent minus free-rent abatement plus NNN. The TI allowance or fit-out is included in the total lease obligation above and is not repeated in each year.
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How warehouse lease costs are structured
Base rent is the annual charge for the premises, expressed here as dollars per square foot per year. Pick a metro to prefill the overall asking rent from the Q1 2026 (preliminary) Cushman & Wakefield Marketbeat, or type the base rent from a proposal. The same metro figures are on the warehouse costs by city guide and the warehouse lease rates guide.
NNN / operating expenses are the taxes, building insurance, and common-area maintenance a tenant pays on a triple-net lease. The prefilled figure is an overall weighted asking rent that Cushman & Wakefield defines as NNN. It is not a gross rent. Leave NNN at $0 unless your quote itemizes an extra operating-expense amount on top of base rent.
Escalations raise base rent on each anniversary. Enter the percentage in the proposal. Escalation compounds on base asking rent only. The NNN estimate stays the same amount each year.
Free rent is a concession that skips base rent for a stretch of months, usually at the start. Free rent is applied from the first month and abates base rent only. The NNN estimate stays payable during free-rent months. Set NNN to $0 if your quote abates operating expenses too.
TI allowance or upfront fit-out is a one-time build-out amount. A landlord TI allowance reduces the net cash cost. An upfront fit-out you pay increases it. Enter either figure in dollars per square foot. It is applied once, across the whole term, and it is not a rent statistic.
The total lease obligation adds each year's base rent and NNN, subtracts free-rent abatement, then subtracts a TI allowance or adds a fit-out. Effective average rent per square foot divides that total by the square footage and by the years in the term. Monthly cost divides the same total by the number of months. Source / as of: Cushman & Wakefield, United States Industrial Marketbeat, Q1 2026 (preliminary). Overall weighted asking rent, NNN, all property types. The national default is $10.20 per square foot per year.
Warehouse lease cost FAQs
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