Weighted Average Lease Term (WALT) Calculator

Estimate weighted average lease term (WALT) for a commercial portfolio using aggregate weighted lease-years and leased area. Optional renewal assumptions provide a scenario-adjusted WALT for risk planning.

Use lease-year·ft² units. Example: 5 years × 100,000 ft² = 500,000 lease-year·ft².
Total occupied and contracted area included in the WALT boundary.
Defaults to 0% if blank.
Defaults to 0 years if blank.

Educational estimate. Confirm lease definitions and lender reporting rules before using in formal disclosures.

Examples

  • Weighted lease-year area 4,750,000 and total leased area 850,000 ft², optional fields blank ⇒ Portfolio WALT: 5.59 years; Renewal-adjusted WALT: 5.59 years.
  • Weighted lease-year area 6,300,000 and area 900,000 ft², 40% renewal probability, 2.5-year extension ⇒ Portfolio WALT: 7.00 years; Renewal-adjusted WALT: 8.00 years.

FAQ

What is a good WALT target?

Targets vary by asset class and strategy, but longer WALT generally indicates lower near-term rollover risk.

Should vacant area be included?

No. WALT is usually computed on leased area under contract, while vacancy is tracked separately.

Why add a renewal-adjusted result?

It helps compare a contractual baseline with a scenario that reflects likely tenant renewals.

Additional Information

  • Base WALT equals weighted lease-year area divided by total leased area, reported in years.
  • The optional renewal adjustment adds probability multiplied by average extension to the base WALT.
  • Use one measurement basis consistently (for example, rentable square feet) across all leases.
  • This calculator summarizes portfolio-level WALT and does not replace asset-level covenant tests.

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