When your CRE proforma outgrows spreadsheets
Build, analyze, and share commercial real estate cash flow models from anywhere
Start your free 7-day trial. No demo required.
Model leases, recoveries, development, and debt
Run DCF, sensitivity, and waterfall analyses
Export branded PDF and Excel reports
Share live models instead of passing files around
What sets us apart
PropertyMetrics is web-based commercial real estate investment analysis and valuation software built for CRE proformas that have outgrown spreadsheets. Build complex cash flow models in one shared application, create polished reports, and rely on software tested and maintained by our team.
Easy to learn
Enjoy a simple and intuitive user interface that just makes sense, without weeks of training.
Works in your browser
Works on any Mac, PC, or tablet. No installs, downloads, or VPN hassles, ever.
One shared model
Co-edit with your team or send free read-only links to clients and partners. Everyone sees the same model.
Presentation-ready reports
Export branded PDF and Excel report packages for lenders, investors, and clients.
Straightforward pricing
Choose a monthly or annual plan without implementation fees or expensive desktop licenses.
Tested and maintained
Our team builds, tests, and updates the calculation engine, so your team does not have to maintain a custom spreadsheet.
The hard part is that every lease is different
Each tenant can have different rent steps, recovery structures, expiration dates, renewal assumptions, downtime, tenant improvements, and leasing commissions. Across dozens or hundreds of tenants, those variations turn a spreadsheet into custom financial software your team has to build, test, debug, and maintain.
PropertyMetrics models each tenant’s existing lease and what happens when it expires, then rolls everything into one property-level cash flow forecast. You can also add development costs and loan assumptions, model partnership waterfalls, and run DCF and sensitivity analyses, all in one place.
Start your free 7‑day trial
Cancel anytime. No demo required.
Looking for an ARGUS Enterprise alternative?
PropertyMetrics handles many of the property-level workflows teams use ARGUS Enterprise for, including lease-by-lease cash flow modeling, detailed recoveries, and DCF analysis, in one browser-based application designed to be easier to learn, use, and share.
What others are saying
Your product is great, very intuitive and easier to use than Argus.
John Dickerson
Valuewize
I’m a 30+ year seasoned veteran in shopping center development. PropertyMetrics is an excellent source of information with professional grade software for analysis and presentation. I highly recommend it.
Frank C. Guess
Partner, Barnhart Guess Properties
I am not only an MAI appraiser, but also an investor and syndicator. I find your information and tools invaluable.
Craig A. Schumacher, MAI
Managing Partner, IRV Consultants
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Solutions for every role
Everything you need to underwrite a complex CRE deal
- Underwrite acquisitions, developments, and existing assets
- Build multifamily, office, retail, industrial, and self-storage proformas
- Model lease-by-lease cash flows, recoveries, debt, and partnership waterfalls
- See levered and unlevered IRR, equity multiple, DSCR, and other metrics update as assumptions change
- Share a read-only model or co-edit with your team
- Export branded PDF and Excel report packages
Model complex properties lease by lease
- Build DCF models, proformas, and valuation reports
- Model unlevered cash flows for complex leases and recoveries
- Import multi-tenant rent rolls in bulk
- Review lease audits and present value calculations
- Export PDF and Excel schedules for appraisal reports
Turn your analysis into a polished offering package
- Build branded proformas for complex properties
- Show cash flows, returns, rent rolls, and key assumptions
- Export PDF and Excel reports for pitch decks
- Share a live read-only model with prospective buyers
- Send the analysis to PMX Publisher to create flyers and offering memorandums
Model development costs, loan draws, and lease-up
- Build detailed hard and soft cost budgets
- Tie development costs to construction loan draws
- Forecast interest carry and monthly funding needs
- Review monthly draw schedules and sources and uses
See how the property performs over the loan term
- Model contractual lease cash flows through maturity
- Calculate DSCR, debt yield, and maximum loan proceeds
- See how lease rollover affects cash flow and coverage
- Export PDF and Excel schedules for credit memos
Model the whole deal, from leases to returns
Model leases, recoveries, development costs, and debt in one place
Enter or import the rent roll, other income, operating expenses, development costs, and financing assumptions. Model rent steps, lease expirations, recoveries, tenant improvements, leasing commissions, market leasing, renewals, construction costs, and loan draws.
PropertyMetrics rolls everything into monthly and annual cash flows that update as assumptions change, so you can see the effect on value, debt coverage, and returns.
See how each assumption changes the deal
Run DCF and sensitivity analyses to see how rent, vacancy, financing, and exit assumptions affect value and returns.
PropertyMetrics recalculates IRR, NPV, cash-on-cash return, equity multiple, DSCR, breakeven occupancy, and other key metrics as the model changes.
Calculate partnership waterfalls period by period
Define preferred returns, IRR hurdles, and custom LP/GP splits. PropertyMetrics calculates contributions, distributions, unreturned capital, XIRR, and equity multiples period by period.
No reverse-engineering a partner’s spreadsheet or second-guessing the promote math. Export the full waterfall to PDF or Excel alongside the proforma and DCF.
Turn your model into a presentation-ready report
Create branded PDF and Excel packages with the proforma, rent roll, sources and uses, market leasing assumptions, development budget, draw schedule, maps, and supporting schedules.
Send the analysis to PMX Publisher to build an offering memo without copying data or rebuilding the report.
Share one live model, not another attachment
Invite teammates to co-edit or send clients, consultants, and investors a secure read-only link. Everyone sees the same live model, and read-only viewers are free.
No stale attachments, conflicting files, or uncertainty about which version is current.
Create value, not spreadsheets
Start your free 7-day trial. Cancel anytime.
Frequently Asked Questions
PropertyMetrics is browser-based commercial real estate investment analysis and valuation software for building, analyzing, and sharing commercial real estate cash flow models. Model leases, recoveries, operating expenses, development costs, debt, and partnership waterfalls. Calculate DCF and return metrics, compare scenarios, and export branded PDF and Excel report packages.
Investors, brokers, lenders, developers, and appraisers worldwide use our commercial real estate underwriting and valuation software to estimate property value, test investment scenarios, and evaluate whether a project meets target returns.
Enter or import a rent roll, operating expenses, other income, development costs, and loan assumptions. Add assumptions for vacancy, capital expenditures, market leasing, and inflation.
Our commercial real estate underwriting software calculates monthly and annual cash flows and supporting schedules, including the proforma, lease audit, loan amortization schedule, loan draws, rent roll, and sensitivity analysis. When the analysis is complete, share a live read-only link or export the report package to PDF or Excel.
Everything works in your browser. No downloads or desktop installations required.
For property-level underwriting and valuation, PropertyMetrics covers many of the workflows people turn to ARGUS Enterprise for, including lease-by-lease cash flow modeling, detailed recoveries, and DCF analysis. It runs in your browser, is easier to learn, and costs substantially less.
PropertyMetrics also includes development costs, loan draws, waterfall models, live sharing, team collaboration, and branded PDF and Excel reports. However, ARGUS may remain the better fit for certain specialized institutional or portfolio-level workflows.
Yes. PropertyMetrics is 100 % browser‑based and works on Mac, Windows, iPad, Android tablets, and even phones. No downloads, VPNs, or remote desktops are required.
Yes. Our real estate development software includes functionality for adding development costs and self-funded interest-only construction loans that can fund individual cost line items. We include a monthly loan draw schedule and a detailed monthly sources-and-uses report.
Yes. You can define multi-tier waterfall structures with preferred returns, IRR-based hurdle rates, and custom LP/GP splits at each level. PropertyMetrics calculates period-by-period distributions, tracks unreturned capital balances, and reports XIRR and equity multiples for both partners. The full waterfall is included in PDF and Excel report packages.
Yes. Just paste your rent roll into our preformatted Excel template and drag and drop it. PropertyMetrics auto‑maps tenant names, suite numbers, lease dates, rent steps, recovery structures, and even market‑leasing profiles, importing dozens or hundreds of rows in seconds without re-keying each tenant manually.
Our software is designed for the full spectrum of CRE professionals:
– Appraisers conducting valuations
– Investors evaluating acquisitions
– Developers modeling new projects
– Lenders reviewing loan underwriting
– Brokers preparing offering packages
No. PropertyMetrics is 100% web-based commercial real estate software. There’s nothing to install or maintain, and it works on any device with an internet connection. Updates are automatic, so you always have the latest features without relying on IT.
Yes. We offer a free trial so you can explore the software before subscribing. During your trial, you’ll have full access to all core features, including building proformas, running discounted cash flow (DCF) models, and generating reports. You can test it with your own projects and see how it compares to Excel or other CRE tools. If you decide to continue to a paid plan, you can proceed without losing your work.