COMMERCIAL REAL ESTATE SIMULATOR

CRE District

Build your district. Learn the deal.

Simulation • Quarter 1

$2,500,000

Available capital

0 / 6

Properties owned · equity $0

Level 1

0 XP · Student investor

Fictional district and simplified deals. Progress saves in this browser on this device. Loading saved game…

UNIVERSITY DISTRICT Select a building to explore

Blue: selected · Green: owned

AVAILABLE PROPERTY • Retail

124 Market Street

Asking price$1,200,000

Annual NOI$90,000

Going-in cap rate7.50%

Occupancy92%

Build your underwriting

NOI is rent collected minus operating expenses, before debt. Try different assumptions; your lender uses actual property income at closing.

Occupancy: 92%Potential rent growth: 0%Annual operating expenses ($)

Potential gross rent: $180,000
Effective gross income: $165,600
Projected annual NOI: $90,000
Value at market cap rate: $1,200,000

Value = NOI ÷ 7.5% market cap rate. A lower cap rate means a higher value for the same income.

YOUR NEXT MOVE

Your first deal

Inspect → underwrite → negotiate → finance → operate. Earn XP as you close deals and improve properties.

Advancing a quarter collects 3 months of current cash flow, pays down loans, and applies the next market event. Events follow a fixed learning cycle. Values use constant cap rates.

District journal

Welcome! Analyze a property, inspect it, negotiate, and choose financing.

Net worth: $2,500,000. Goal: acquire and improve all six properties while maintaining cash reserves.