Back-of-Napkin Spreadsheet Instructions

This spreadsheet is designed for speed, helping you go from raw deal info to a “Yes” or “No” decision in under 60 seconds.

Download Your Spreadsheet

Watch This First

Quick Start Steps

Step 1: Enter the Basics

Plug in:

  • Purchase Price
  • Square Footage
  • Market Rent ($/SF)
  •  
Step 2: Set Your Assumptions

Adjust:

  • Construction Cost ($/SF)

  • Vacancy Rate (start ~8–10%)

  • Operating Expenses (start ~25%)

  • Cap Rate (be accurate – this matters a LOT)

  •  
Step 3: Review the Output

  • The model will:

    • Calculate NOI

    • Determine total project cost

    • Show a Go / No-Go based on developer spread

    👉 If it’s a “Go” → dig deeper
    👉 If it’s a “No” → move on fast

The Golden Rule

ONLY EDIT BLUE CELLS

  • Blue cells = inputs you can change

  • Black/gray cells = formulas

Changing formulas can break the model, so tread carefully.

What This Model is Built For

This is a high-level screening tool.

Use it when:

  • You get an OM

  • You’re talking to an owner

  • You see a deal and want a quick gut check

Need a hand?

Have questions or want help using the spreadsheet?

Reach out anytime:
📩 shop@hungry-inc.com