Understanding NNN Lease Agreements
Our Calkain specialists are Tampa FL NNN real estate brokers who can provide you with guidance you can benefit from when making investment choices. A NNN lease, also known as a Triple Net Lease, is one of several types of commercial real estate leases. This area of investing can be daunting especially because even though the terminology used has a broad or general meaning it is possible that the exact meaning of an NNN lease might differ by landlord or property. For these reason it is advisable to discuss your NNN lease requirements with experienced NNN real estate brokers in Tampa from Calkain.
Understanding NNN Leases
What makes a NNN lease so unique is that is address the costs and responsibilities of the tenant and landlord. In this case the NNN lease has been structured so that it costs nothing for the landlord and is fully paid for the tenant. Tampa FL NNN real estate brokers from our firm can fully discuss the benefits of this type of arrangement.
General Overview of NNN Leases
- An NNN lease is favorable for the landlord.
- It protects the landlord from any unexpected costs or changes.
- There is a 100% pass through of all expenses; thus, the risks, costs, and responsibilities are that of the tenant.
- An NNN lease can make the sale of a property very appealing to a potential investor.
- There are favorable property taxes attached to NNN lease properties.
Why Tenants Want NNN Leases
You might be wondering why anyone would want to sign an NNN lease when they would be responsible for all risks, costs, and responsibilities of the property. NNN real estate brokers Tampa respects might offer that the reasons why such a lease is favorable to tenants include these reasons:
- The rental is often in a prime location.
- The property has optimal features and functionality.
- The property owner has a respectable portfolio.
- The property is professionally managed and maintained.
NNN lease tenants might include:
- Restaurant franchise
- Dollar stores
- Auto parts stores
The Components of an NNN Lease
An NNN lease typically includes these costs:
- The base rent of the building
- Property taxes
- Property insurance
- Common area maintenance
- Additional costs and fees related to the upkeep and maintenance of the property
When you consider an NNN lease, the expenses that may be noted in any documentation or listing should be taken as a loose estimate based on what is known during the time of the lease negotiation. It is possible to reconcile these expenses on a quarterly, semi-annually, or annual basis, but this will depend on the owner or management company of the property. For this reason you may benefit from the guidance provided by Tampa FL NNN real estate brokers.
Calkain: A Boutique Firm You Can Rely On
NNN leases are not for every investor or business owner. Nor will every property investor want to deal with NNN leases. Whether you are a tenant looking for an NNN lease, a landlord ready to find the right tenants, or a property investor searching to purchase property, our Tampa FL NNN real estate brokers can help you.
- We are well respected in the community.
- We have 13 years of real estate experience.
- We offer transparent, honest advice.
- We are innovative, skillful, and determined to find the right solution to each client’s needs.
If you are considering investing in NNN lease agreements, call us at Calkain today at (703) 787-4714 to speak with Tampa FL NNN real estate brokers.Tampa FL NNN Real Estate Brokers