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In a NNN lease the tenant (person leasing the property) is liable for the taxes, insurance, and CAM (Common Area Maintenance) expenses.
In a Gross Lease, the tenant pays a fixed amount of rent to the Landlord and has no other expenses to pay.
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What is an NNN Lease?
NNN lease means triple net lease which is common in commercial leases. "Net Lease" is a term used to signify a lease structure in which the tenant or lessee is responsible for paying a portion all of the common expenses related to real estate ownership.
Where can one find more information about NNN Leases?
An NNN Lease is a net lease, structured as a turnkey investment property in which the tenant is responsible for paying the three major expenses associated with commercial real estate ownership. More information can be found on several different websites or within a real estate manuel.
How do you obtain funding for a NNN Lease on an investment grade tennat?
BLP Financial can monetize triple net bondable leases which are also known as hell or high water leases. We can lend against gross lease amount for either acquisition or development projects and in some cases can even finance 100%. What's takes as collateral is an assignment of the lease payment stream from the investment grade entity which leaves the property free and clear of any liens which in most cases can be used as a sweetener for the investment grade entity to sign off on this type of lease.
How do commercial leases differ from residential leases?
Commercial leases are generally locked up for a much longer term then residential leases, and it's much, much harder to break a commercial lease. One big difference between commercial leases and residential leases that a lot of people don't realize is that commercial leases are not subject to many of the consumer protection laws that residential leases are. Make sure you know what you're getting into before signing. Most commercial leases are NNN which require the lessee to pay all utilities, insurance, and property taxes. Most residential leases are on a Gross rental basis and do not directly pay NNN charges. Commercial Appraiser http://www.harriscompanyrec.com
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