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What does a NNN Lease Include?

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0 2024-07-25T19:50:26+00:00
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Wondering what does a NNN lease include? A Triple Net Lease (NNN), also known as a triple-net lease, is a type of commercial real estate lease agreement. Here’s what it includes:

  1. Base Rent:

    • The tenant pays a fixed base rent to the landlord.

    • This rent covers the use of the property space.

  2. Operating Expenses: The tenant directly pays for operating expenses, including:

    • Property Taxes: The tenant’s share of property taxes.

    • Building Insurance: Insurance costs related to the property.

    • Maintenance: Costs for maintaining common areas and building repairs.

  3. Utilities:

    • If individual metering is available, the tenant pays utility providers directly.

    • Otherwise, the landlord apportions costs based on usage.

NNN leases provide transparency and control over expenditures, commonly used in commercial properties like retail centers, offices, and industrial spaces. I hope you get an idea of what does NNN include.

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