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People also ask
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What is triple net on a commercial lease?
A triple net lease is commonly known as an NNN lease, it is the opposite of a gross lease and it places responsibility on the tenant to make three payments in addition to the rent. In this lease structure, the tenant agrees to share in all expenses associated with property maintenance, taxes, and insurance.
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What does NNN stand for?
Triple net lease (NNN) is normally a commercial lease where the lessee pays rent and utilities as well as three other types of property expenses: insurance, maintenance, and taxes.
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What does $20 NNN mean?
NNN – Triple Net –This type of lease rate includes the base rental rate plus the three N's. One “N” stands for property taxes, one for property insurance, and the final “N” stands for common area maintenance (CAMs).
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What is a triple net lease vs lease?
In a single net lease, the tenant pays a lower base rent in addition to property taxes. Double net leases include property taxes and insurance premiums plus a base rent. A triple net lease (NNN) includes property taxes, insurance, and maintenance costs.
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What does $18 NNN mean?
NNN – Triple Net –This type of lease rate includes the base rental rate plus the three N's. One “N” stands for property taxes, one for property insurance, and the final “N” stands for common area maintenance (CAMs).
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What does NNN mean on a commercial lease?
Triple net lease (NNN) is normally a commercial lease where the lessee pays rent and utilities as well as three other types of property expenses: insurance, maintenance, and taxes.
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What does $28 NNN mean?
A triple net lease (triple-net or NNN) is a lease agreement on a property where the tenant promises to pay all expenses, including real estate taxes, building insurance, and maintenance. These expenses are in addition to the cost of rent and utilities. NNNs are one type of commercial property net lease.
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What does $12 sf NNN mean?
Commercial spaces may be advertised as “$12/psf NNN” meaning $12 per square foot is the base rent and the NNN expenses will be in addition to that. CAM, or common area maintenance, is one of the three NNN Expenses that commercial tenants pay for as additional rent.
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