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Wanting to build a commerical building, please explain NNN lease
Posted on 5/11/17 at 5:22 pm
Posted on 5/11/17 at 5:22 pm
I have an opportunity to build a commercial building and move an existing business, that I'm part owner of, and have two tenants. I'm in the process of having an elevation drawn of the building and one of the possible tenants is asking about a NNN lease. I have researched this but would like a common sense explanation of a NNN Lease. Would someone be kind enough to share some education with me?
1
Posted on 5/11/17 at 5:52 pm to broadhead
Instead of the tenant paying you one fixed amount and then you paying all the expenses, each tenant pays their pro-rata share of common area maintenance, property taxes, and insurance.
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