NNN Leases in Virginia
In commercial real estate, the NNN lease—commonly referred to as the triple net lease—but what does that really mean? Below, you will find more information about the NNN leases in Virginia and how it may be the ideal investment decision for you to pursue. If you have any additional questions or if you would like to set up a consultation with one of the associates, please reach out to us today. We would like to help you get started on your journey.
What is a NNN Lease in Virginia?
A Virginia NNN lease is an investment property that is most likely occupied by one tenant who has chosen a long-term lease. When this is the case, the tenant is then responsible for the operating expenses of the property. Many consider a triple net lease to be a turnkey-style investment because the landlord will not have to pay for the operating expenses. This means that the owner simply owns the land and collects a rent check while the tenant maintains their facilities. The expenses included are usually: Insurance, Utilities, Taxes, Repair and Maintenance
What kinds of properties are typically associated with triple net leases?
There are many different property types that are associated with triple net leases. These can range from retail buildings, to restaurants, to office buildings, and hotels. These buildings are typically fully leased by one or more tenants.