NNN Commercial Real Estate for Sale
Real estate investors and property owners are turning to NNN commercial real estate for sale instead of traditional investment properties. An NNN lease, also referred to as a triple net lease, is a type of real estate lease agreement where the tenant who rents the property is responsible for the expenses to keep up the property, such as real estate taxes, insurance, maintenance, and more. These are expenses that are usually paid for by the property owner in a traditional landlord/tenant relationship.
If you are considering NNN commercial real estate investment, contact Calkain to discuss the types of properties we have that would be fit the type of commercial real estate investment you are looking for. In the meantime, the following is a brief overview of NNN commercial leases.
Types of Leases
In traditional commercial real estate, the type of lease that is usually signed between the landlord and the tenant is referred to as a gross lease. In this type of agreement, the landlord is typically responsible for the real estate taxes, property liability insurance, maintenance, and repairs.
In a single net lease, the tenant is responsible for one of the normal property expenses, usually the property taxes. In a double net lease, the tenant is responsible for two expenses, sometimes the property taxes and the property liability insurance. In a triple net lease (also referred to as a NNN commercial lease), the tenant is responsible for all expenses including the property taxes, the property liability insurance, and the maintenance and upkeep of the property.