The total floor area within a building available for tenant occupation and lease, excluding common areas, mechanical rooms, stairwells, elevator shafts, and other non-leasable spaces.
Net leasable area (NLA) is the denominator used in retail property analysis to calculate per-square-foot rent and occupancy metrics. It differs from gross building area by excluding all areas not available for tenant use. In retail centers, NLA is the standard basis for occupancy cost ratios (rent as a percentage of tenant sales) and is the foundation for pro-rata share calculations. BOMA and ICSC publish measurement standards that define NLA in office and retail properties respectively. Accurate NLA measurement is critical for lease abstractions involving percentage rent, pro-rata share, and operating expense calculations.
What accuracy can you realistically expect from AI lease abstraction tools? We break down field-level accuracy rates, where AI excels, where it struggles, and how to validate output.
Compare the top AI lease abstraction tools for commercial real estate in 2026. We review Lextract, Prophia, Kolena, Leasecake, MRI Software, and more — with pricing, accuracy, and use-case guidance.
Free AI lease abstraction tools are fast and easy — but they have real limitations. Here is what free tools deliver, what they miss, and when you need structured output instead.
Upload a commercial lease PDF and get 125+ structured fields — including all the terms defined in this glossary — extracted in under 3 minutes. $20 per lease.
Upload Your Lease