Triple Net Lease
A triple net lease (NNN) is a commercial lease in which the tenant pays base rent plus property taxes, insurance, and maintenance, transferring most operating expenses from the landlord to the tenant.
Example: A property owner signs a 12-year NNN lease with a national retailer; the tenant pays base rent plus property taxes, insurance, and CAM charges, while the landlord’s obligation is limited to financing and capital improvements.
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