what does nnn mean

In Leasing Property - Asked by Patrick O. - Mar 19, 2015
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Answer(s)

Sally D.
Vienna, VA

Triple Net

Mar 19, 2015
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Dalip S R.
Broker/Agent
Lumberton, TX

Triple Net lease is where tenant is responsible for property taxes, insurance, common area fees, and any other fees mentioned in your lease. It is usually calculated per sq. ft. and divided between the tenants. Usually a new tenant will pay price per sq. ft.+ NNN.

Mar 20, 2015
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Craig Z.
Broker/Agent
Santa Monica, CA

Dalip S.R. has it right...however I disagree with Jlent L, if negotiated properly a NNN lease can give a tenant more control over the building (if free standing and tenant controls building maintenance). Also, a good broker can add expense stops / caps on increases for controllable costs and carve out any expenses that are deemed commercially unreasonable (such as landlord breakfast, etc....). Tenants can request proper backup to dispute unreasonable pass-though expenses so long as the process is included in the lease.

Mar 23, 2015
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