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📊 Quick Valuation

GRM Calculator

Calculate Gross Rent Multiplier to quickly compare property values relative to gross rental income. A fast screening tool for CRE investment opportunities.

6–12x
Typical CRE GRM
Price ÷ Rent
GRM Formula
Quick Screen
Best Use
⚡

GRM Calculator

Three modes for any analysis scenario

$
$
All rental income before expenses
$
#
$
#
Gross Rent Multiplier
—
—
Property Price
—
Annual Gross Rent
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Monthly Rent
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Understanding Gross Rent Multiplier

A quick screening tool for comparing CRE investment opportunities.

What GRM Tells You

GRM = Purchase Price ÷ Annual Gross Rent. A GRM of 8 means it takes 8 years of gross rent to equal the purchase price. Lower GRM = potentially better value. It is a rough screening tool — not a replacement for cap rate or full underwriting since it ignores expenses.

GRM vs Cap Rate

GRM uses gross rent (before expenses). Cap rate uses NOI (after expenses). GRM is faster to calculate when you don't have expense data. Cap rate is more accurate. Use GRM to quickly screen properties, then run cap rate and DSCR analysis on the ones that pass the initial filter.

Typical GRM Ranges

Multifamily: 7–12x. Retail: 6–10x. Office: 8–14x. Industrial: 6–9x. Lower GRM markets tend to have higher cap rates and higher yields but potentially more risk. Gateway cities (NYC, SF, LA) often have GRMs of 15–20+ due to appreciation expectations.

Limitations of GRM

GRM ignores operating expenses entirely. A property with 8x GRM but 60% expense ratio may perform worse than one with 10x GRM and 30% expenses. Always follow up with NOI, cap rate, and DSCR analysis. GRM is the starting point, not the finish line.

Average GRM by Property Type

Typical ranges across major CRE asset classes.

Property TypeGRM RangeImplied Cap RateNotes
Multifamily (B/C)7–10x6–8%Higher expenses, value-add potential
Multifamily (A)10–15x4–6%Lower cap rate, appreciation play
Retail (NNN)8–12x5.5–7%Low expenses, tenant pays most
Industrial6–9x5–7%Low expense ratio, strong demand
Office (Suburban)8–12x6.5–8.5%Higher expenses, tenant risk
Self-Storage7–10x5.5–8%Operator-intensive

Frequently Asked Questions

Common questions about GRM in CRE.

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CRE CALCULATORS

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