The NNN is rent in addition to base rent and the cost of utilities.
Triple Nets are estimated for the year and typically paid together with rent each month. At the end of the year the actual cost of NNN is calculated and reconciled with the tenant if the estimation differed from the actual expenses.
In addition, there are also:
Single Net Lease – In addition to base rent, the tenant also pays their proportionate share of property taxes.
Double Net Lease – In addition to base rent, the tenant also pays their proportionate share of property taxes and property insurance
Want to learn more about other topics? Check out our Education Hub.
All information provided has been obtained from sources deemed reliable. However, neither CIP Austin nor any of its brokers, agents, employees, officers, directors or affiliated companies (collectively, CIP Austin and Related Parties) have made an independent investigation of the Information or the Information sources, and no warranty or representation is made by CIP Austin and Related Parties as to the accuracy of such Information. The Information is submitted subject to the possible errors or omissions, and no person or organization should rely on the Information, unless such person or organization has conducted and independent investigation to confirm the accuracy thereof.