What is meant by $/SF/yr relative to base rent, CAM, and Taxes?

When I read that a place is for lease at $20/SF/yr, what is included in that amount? Is this just base rent, is it base rent + CAM, or is it base rent + CAM + porperty taxes. Also is there any operating expenses included in this set of figures?
In Property Management - Asked by James V. - Jan 20, 2010
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Damon D.
Bala Cynwyd, PA

If it only says "$20/sf/yr", and nothing else, there's not enough info to tell if the $20/sf is just the base rent (a net rent number), a gross rent (all inclusive), or a modified net of some kind. In retail in my market, for example, you will 9 xs out of 10 see numbers quoted as $20/sf NNN - the "NNN" after the number tells you that the $20 is for the base rent and there are triple net charges or "extras" (typically CAM, tax, insurance) in addition to the base number. Also, what complicates matters is different people sometimes define "triple net" differently. At the end of the day, when you call to ask what the asking rent is - also ask "what type of lease is it?"; "what are the extras?"; and "can you breakdown what they are for me?"

Jan 20, 2010
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Chris S.
Coeur D'alene, ID

Damon is correct.
You need to know the basis for the rent, is it NNN, FSG or something in between like MG, IG or Modified Net.

Jan 22, 2010
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