how do you figure out commercial property lease rates?

Charles, the lease rate, just like the purchase price is determined by basic economics; what is someone willing to pay. To best determine the current lease rates, I would drive around the area of the subject property to find out what the current lease rates are going for (you can also search in loopnet for leases by property type and zip code). Bottom line, there is no formula to determine a lease rate. The current rate will be determined by basic economics

Charles-
Lease rates are determined by several factors such as; property type, property type supply & demand, property value and finishes, desired lease length, lease terms the company's financials, if there are improvements needed to be made to name a few. You'll have to combine all these factors and run a financial analysis to determine an appropriate lease rate for that particular property. I work for one of the largest real estate companies in the world, Jones Lange LaSalle and specialize in assisting landlord and tenants with their leasing needs. Please do not hesitate in contacting me if would like more information. You can email me at angelique.salas@am.jll.com
Angelique M. Salas
Jones Lang LaSalle
Markets Group