What is NNN?
NNN stands for triple net lease, which is a type of commercial real estate lease agreement where the tenant is responsible for paying all of the operating expenses associated with the property, in addition to the base rent. These expenses include property taxes, insurance, and maintenance costs, and the owner is generally not responsible for paying any of these expenses. NNN leases are typically used for properties such as retail stores, gas stations, and other commercial properties where the tenant is occupying and using the property for their business operations.
Triple net leases (NNN) can be beneficial for both owners and tenants in different ways.
Benefits for Owners
For owners , NNN leases provide a steady stream of rental income without the need to manage the property or cover the expenses associated with it. This can be especially beneficial for owners who own multiple properties or who don’t want the added responsibility of property management. Additionally, NNN leases can also provide owners with higher rental income as tenants are willing to pay more for the privilege of being responsible for all the operating expenses.
Benefits for Tenants
For tenants, NNN leases can be beneficial because they have more control over the property and can customize it to suit their specific needs. Additionally, NNN leases can provide tenants with more flexibility in terms of budgeting for operating expenses, which can help them make better decisions regarding their business operations.
Overall, NNN leases can be a good choice for both owners and tenants who want a more predictable and stable rental arrangement, where the tenant takes on more of the operating expenses and the landlord receives a stable income without the added responsibilities of property management.
The Onward Real Estate Team is a highly experienced and dedicated group of professional agents who specialize in helping investors and business owners navigate the complex world of triple net leases (NNN). We understand the unique benefits and challenges of NNN properties and have the knowledge and expertise to help clients make informed decisions.
Whether you are looking to purchase a NNN property or lease one, the Onward Real Estate Team can guide you through the process, from identifying the right properties to negotiating favorable lease terms. We have a wide range of NNN properties available in Waco, TX and surrounding areas, and can help you find the perfect location for your business.
At Onward, we are committed to providing personalized and professional service to each of our clients. We take the time to understand our clients’ specific needs and goals, and work closely with clients to develop a customized strategy for achieving success in the NNN market. With the Onward Real Estate Team, you can be confident that you are working with the best in the commercial real estate industry in Waco, Texas.