Minnesota Triple-Net Office Lease of Commercial Building
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How to fill out Triple-Net Office Lease Of Commercial Building?
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FAQ
The main disadvantage of a triple net lease in commercial real estate is the higher monthly costs as opposed to those in double or single net lease structures. Furthermore, since tenants become responsible for taxes, this puts them on the hook for any tax-related liabilities such as fines and penalties.
A triple net lease, also known as an NNN Lease, is a lease in which the tenant agrees to pay their pro-rata share of all expenses associated with property maintenance, taxes, and insurance, in addition to a predetermined base rental rate. These expenses are commonly referred to as operating expenses.
Despite their potential risks, NNN investment properties may provide investors with a reliable source of rental income, the stability of long-term tenants, and the benefits of dependable cash flow without the burden of property management.
How to calculate a triple net lease. For a triple net lease, the lessee must pay the base rent, property taxes, insurance, and common area maintenance (CAM) expenses. These charges are often lumped into one estimated annual rate that the lessee is required to pay.
With a triple net lease (NNN), the tenant agrees to pay the property expenses such as real estate taxes, building insurance, and maintenance in addition to rent and utilities. Triple net leases are commonly found in commercial real estate.
While NNN properties for sale come with a range of cap rates, they are typically advertised with a cap rate of 5.5% to 7%. The higher the cap rate, the higher the risk and potential return on investment.
The biggest risk with a net lease is that if the main tenant default or declare bankruptcy, it can be incredibly difficult to find a new tenant to replace the original tenant.
The main disadvantage of a triple net lease in commercial real estate is the higher monthly costs as opposed to those in double or single net lease structures.
