what is NNN?

buying a "nnn" property
In Buying Property - Asked by Jay B. - Jun 15, 2014
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Answer(s)

Brian S.
Las Vegas, NV

“NNN” is a term for Net Lease. The tenant is responsible to pay the common area costs or portion thereof as a separate charge in addition to the lease rate. A NNN lease rate is typically lower that other lease types because these expenses are paid on top of the lease rate instead of included. NNN fees are also commonly referred to as CAM charges (Common Area Maintenance).

Jun 16, 2014
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Steve C.
Broker/Agent
Frederick, MD

In a commercial real estate, a net lease requires the tenant to pay, “addition rent” also called “pass throughs” of some or all of the property expenses that normally would be paid by the property owner. (known as the "landlord" or "lessor").
The precise expenses that are passed through to the tenant are usually specified in a written lease are generally pro-rated among the tenants based on the square footage of the area occupied by each tenant. The term "net lease" is distinguished from the term "gross lease". In a net lease, the property owner receives the rent "net" after the expenses that are to be passed through to tenants are paid. In a gross lease, the tenant pays a gross amount of rent, which the landlord can use to pay expenses or in any other way as the landlord sees fit.
In a single net lease tenant is responsible for paying property taxes. In a double net lease (Net-Net or NN), tenant is responsible for property tax and building insurance. A triple net lease (Net-Net-Net or NNN) the tenant pays all real estate taxes, building insurance, and maintenance (the three "Nets") in addition to any normal fees that are expected under the agreement (rent, utilities, etc.).

Jun 16, 2014
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Jient L.
Tarzana, CA

As a Tenant, you try to avoid triple and/or double net Lease; you can not exactly predict and/or k now what the Landlord/ Lessor pass on to you. For example: the Lessor may sole decide on plastering the entire building, paving the parking lot or replacing the roof and you will be at the mercy of those expenses. Hopefully the property is not for sale; else, you will be at the mercy of any increase of Property tax also.
Avoid, avoid NN or NNN Lease; else your check book is at the mercy of the Lessor!!

Jun 16, 2014
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David P.
Broker/Agent
Winter Haven, FL

NNN is the term for Triple Net Lease, or Net Lease. The tenant pays all operating expenses, including their proportionate share of building repairs and maintenance, janitorial and landscaping etc.

Jun 19, 2014
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Andrew L.
Broker/Agent
Riverdale, NY

NNN is an acronym for Net, Net, Net commonly known as "Triple Net" Lease, or Net Lease or the term I like best is "Absolute Net."
This means that the tenant is not only responsible to pay for rent, but the tenant is responsible for everything related tot he property, the property's expenses, management, maintenance, interior, exterior and structural repairs. This is an ideal form of lease for a landlord property owner to receive the rent from the tenant without any expenses whatsoever.

Jun 26, 2014
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Andrew L.
Broker/Agent
Riverdale, NY

NNN is an acronym for Net, Net, Net commonly known as "Triple Net" Lease, or Net Lease or the term I like best is "Absolute Net."
This means that the tenant is not only responsible to pay for rent, but the tenant is responsible for everything related tot he property, the property's expenses, management, maintenance, interior, exterior and structural repairs. This is an ideal form of lease for a landlord property owner to receive the rent from the tenant without any expenses whatsoever.

Jun 26, 2014
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Jen S.
Broker/Agent
Cotuit, MA

It is a term for a triple net lease. You should consult your Realtor or real estate attorney to be sure you understand all terms and conditions of your lease before entering into one.

Jul 15, 2014
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