triple net lease
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What does NNN mean in a commercial lease?
The triple net (NNN) in a commercial real estate lease stands for Net, Net, Net which are the taxes, property insurance, and common area maintenance charges that Tenants or Lessees pay for in addition to their base rent. For example say you find Austin commercial real estatequoted as $14 NNN.?/div>What Does Triple Net NNN Mean in a Commercial Real Estate
What is an nnnn?
NNNs are just one type of commercial property net lease. A single net lease requires tenants to pay property taxes in addition to rent, and a double net lease typically tacks on property insurance. Key Takeaways
What is a triple net lease (NNN)?
With atriple netlease (NNN), the tenant agrees to pay the property expenses such as real estate taxes, building insurance, and maintenance in addition to rent and utilities. Triple net leases are commonly found in commercial real estate.
What are the NNN expenses?
The NNN expenses usually include your proportionate share of the exterior maintenance of the building, property insurance and property taxes. They are usually quoted on a per square foot basis. Are There Any Other Expenses to Consider?