See through the clutter. Shop with clarity.
Every OM, normalized. Every deal, underwritten to your exchange.
Every deal, in focus.
Closed access. Currently inviting select exchangers. The methodology is public, in full, on our methodology page.
Median stress Dark Shell Score across the scored universe.
How much of a buyer's equity survives if the tenant goes dark at lease expiration and the box has to be re-leased, in the stress case, on a 0–100 scale. Every other number on this platform, every cap rate, every proforma, every match, exists to move this one.
How the score is built →Every listing here is already underwritten to the dark-shell scenario.
Not a feed of listing metadata. A normalized, scored universe: asking cap rate modeled against what survives if the tenant goes dark at lease expiration. Here is the live shape of it, by tenant sector.
Cap rate against tenant credit
Where the scored universe concentrates: higher cap rates sit at the top, stronger tenant credit to the left. The dense cells are where the sub-institutional net-lease bid actually clears.
Asking cap rate (rows) × tenant credit tier (columns) · cell = scored listings
The pre-underwritten universe.
Every offering memorandum is normalized into one schema and scored on what survives if the tenant goes dark at lease expiration. You search a universe that has already been underwritten, not a feed of listing metadata.
Your team, in one place.
Shop 1031 is the live-deal tool our advisors use with you. Configure your buyer profile once and route a shortlist to an advisor. No LOI, no obligation, one shared workspace from intake to identification.
We start where most people stop.
Dark Shell Scoring does not ask whether the tenant will renew. It asks what the buyer owns if the tenant does not: how much invested equity survives a dark shell across base, bear, and stress vacancy. That is where our underwriting begins.
Illustrative. Each listing is scored on its own base / bear / stress decomposition.
Buy the deal whose worst day is best.
Platforms map the market. Professionals close the deal. We structure the middle.
It's your money. You worked hard to pick the best listing broker, to grind out the best deal, and get the best purchase price. What was all that worth if you don't use the best tools available to find your replacement property?
Three underwritten replacements that satisfy your exchange in 14 days, or Shop 1031 covers your QI setup fee.
For verified buyer profiles in an active identification window. See Terms §7A for the criteria-matched definition, cure path, and caps.
Field notes & methodology
Why the 45-day clock is a search-friction problem
The 1031 identification window punishes buyers who shop listing metadata. We reframe replacement search as a downside-survivability problem and show why it compresses time-to-identify.
Read the field note → MethodologyReading a Dark Shell Score in ninety seconds
A field guide to the survival-ratio decomposition: terminal value, vacancy carry, re-leasing cost, and the band that weights the stress case without ignoring base-case resilience.
Read the field note → Field noteSub-institutional NNN: where the mispricing lives
Below the institutional bid and above the retail-broker floor sits a band of single-tenant assets that almost nobody underwrites tenant-out. That gap is the opportunity.
Read the field note →