# Net Lease Broker Opinion of Value Template (Markdown)

Free Net Lease Broker Opinion of Value structure from IntellCRE (intellcre.com/models/net-lease-broker-opinion-of-value-template/). Anything in [square brackets] is a placeholder to replace with your own facts. Nothing here is real property data.

How to use: paste this into Claude, ChatGPT, Gemini or any assistant together with your deal facts, or fill it in by hand and paste it into your own document.

Skip the typing: IntellCRE builds this from your deal documents. Try it, free to start: https://app.intellcre.com/register

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## 1. Executive Summary: Price Estimate

- **Concluded value, low, high, effective date:** [ ]
- **Price:** [ ]
- **Cap rate:** [ ]
- **Remaining lease term:** [ ]
- **Rent bumps:** [ ]
- **Tenant / guarantor:** [ ]
- **Lease type:** [ ]

## 2. Property Overview and Photos

- **Tenant and guarantor (corporate or franchisee):** [ ]
- **Lease type (NNN / absolute NNN / bondable):** [ ]
- **Lease commencement and expiration:** [ ]
- **Renewal options:** [ ]
- **Landlord responsibilities (roof, structure):** [ ]
- **Building area and land area:** [ ]

## 3. Lease Summary

- **Term:** [ ]
- **Detail:** [ ]

## 4. Sale Comps Summary and Detailed

- **Columns:** Tenant, Remaining term, Sale price, Cap rate, Price per SF, Lease type, Guarantor

## 5. Rent Comps Summary

- **Columns:** Property, Tenant, Rent per SF, Term, Escalations, Lease type

## 6. Income and Expenses

- **Current and proforma:** [source and period]

## 7. Valuation Approach and Reconciliation

- **Method:** Cap rate on contractual rent, set by tenant credit, remaining term, rent bumps and lease structure; comparable net lease sales with similar tenant and term matter more than location averages.
- **Weights and range:** [ ]

## 8. Market Overview

- **Tenant credit rating or financial summary:** [Value; source and date]
- **Store count and unit-level sales (if reported):** [Value; source and date]
- **Surrounding traffic count:** [Value; source and date]
- **Population within 3 and 5 miles:** [Value; source and date]
- **Comparable net lease cap rates:** [Value; source and date]
- **Competing locations:** [Value; source and date]

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## Drafting rules

- Use only facts the user supplied. Never invent property data, tenants, statistics, comps or quotes.
- If a fact is missing, write [TBD: what is needed] in its place.
- Every market statistic needs its source and date as given by the user; otherwise mark it [TBD: source and date].
- Show arithmetic for any figure you derive and flag it as calculated.
- Write in plain, factual US English. Avoid unsupported superlatives.
- Avoid this net lease mistake: calling a lease nnn without stating who pays roof and structure.
- Avoid this net lease mistake: showing cap rate without remaining term.
- Avoid this net lease mistake: not distinguishing corporate guaranty from franchisee guaranty.
- Avoid this net lease mistake: omitting rent bumps.
- Apply only the adjustments and cap rates the user supplies; if none are given, ask.
- State that a BOV is not an appraisal and is not a substitute for one where an appraisal is required.
- Leave confidentiality and disclaimer text as [Insert the brokerage's counsel-approved language].