At Calkain, we’ve seen the rise in popularity of NNN retail Virginia investments and there are many reasons for this. These types of transactions are ideal for investors who want a solid return but prefer not to have to deal with all of the costs and management responsibilities associated with normal commercial property ownership. When it comes to all there is to know about NNN retail Virginia offers, we encourage you to contact us for a one-on-one meeting to learn more.
The typical NNN retail Virginia property is an industrial building, office complex, or retail establishment. The property is occupied by only one tenant and the lease agreement signed between both property owner and tenants is for a term of a minimum of ten years or longer. In addition to paying rent on the property, the tenant is also responsible for other expenses, including maintenance, repairs, property taxes, and insurance.
Benefits of NNN Retail Lease Properties
There are multiple benefits to both the property owner and the tenant in NNN retail Virginia lease agreements. For the property owner, the long-term lease agreement means a long-term guarantee income. Long-term leasing also means less tenant turnover, eliminating the costs of painting and/or remodeling every time a new tenant moves in, something very common in traditional types of commercial property rentals. And since owners are not responsible for the operating expenses and maintenance of the building, there is also much less record keeping necessary.
One of the most attractive benefits of Virginia NNN retail lease for property owners is that they are not financially responsible for the upkeep and repairs of the property. Not only does this mean savings when it comes to janitorial, landscaping, snow plowing, and maintenance repairs, but it also applies to major costs that may arise, such as roof replacement, HVAC system issues, parking lot repair, etc. Any repair is the responsibility of the tenant.
Risks of NNN Retail Lease Properties
Like all investments, there are some risks that are associated with NNN retail in Virginia lease properties. One of the biggest risks is finding a tenant who you are confident will be in business for at least the duration of your lease. If there is only one tenant in your building, if the go out of business, not only do you lose your rental income, but you are also now responsible for all the costs associated with the building. In order to minimize these risks, many property owners find the most stable tenants to rent to are companies who have a nationwide or franchise presence.
There is much less risk for investors who purchase property that offers multiple spaces to rent to multiple tenants. In these types of investments, the tenants pay a pro rata share of the NNN retail lease based on the percentage of space they are renting on the property.
Find Out if NNN Retail Lease Properties Is for You
If you are considering investing in a net-lease property, contact Calkain. Our team had more than number of years of experience and can help you decide if this is the best option for your investment portfolio. Call us today at (703) 787-4714 to find out more about NNN retail Virginia opportunities.NNN Retail Virginia