How much does NNN cost per square foot?
Using our example above, say the commercial real estate agent tells you the NNN charges/expenses are $6.00 per square foot, per year. Then to find out your total monthly rent, you will have to add the $24.00 base rent and add $6.00, then divide by 12 months, then multiply by the total square feet you will be leasing.
What does NNN mean in commercial real estate?
Wonder no more. In this post, we’ll demystify what the heck NNN means next to all those Office, Warehouse and Retail Space listings you’re seeing online. NNN stands for Triple Net rent. In this type of commercial real estate rent, you pay the amount listed and you also have pay additional costs (usually Operating Expenses) on top of that.
What kind of expenses are included in NNN?
The NNN expenses usually include your proportionate share of the exterior maintenance of the building, property insurance and property taxes. They are usually quoted on a per square foot basis. Are There Any Other Expenses to Consider? The short answer is, yes.
What does it mean to pay nnn for office space?
For example: say the Office Space listing you’re interested in says the rent is $24.00 NNN per sqft/year. The $24.00 number is your Base Rent. That’s the minimum amount that you pay in rent just to lease the space. In addition to Base Rent, you will pay have to pay additional money to cover the Operating Expenses (or NNN or Triple Net Expenses).
Using our example above, say the commercial real estate agent tells you the NNN charges/expenses are $6.00 per square foot, per year. Then to find out your total monthly rent, you will have to add the $24.00 base rent and add $6.00, then divide by 12 months, then multiply by the total square feet you will be leasing.
Wonder no more. In this post, we’ll demystify what the heck NNN means next to all those Office, Warehouse and Retail Space listings you’re seeing online. NNN stands for Triple Net rent. In this type of commercial real estate rent, you pay the amount listed and you also have pay additional costs (usually Operating Expenses) on top of that.
For example: say the Office Space listing you’re interested in says the rent is $24.00 NNN per sqft/year. The $24.00 number is your Base Rent. That’s the minimum amount that you pay in rent just to lease the space. In addition to Base Rent, you will pay have to pay additional money to cover the Operating Expenses (or NNN or Triple Net Expenses).
The NNN expenses usually include your proportionate share of the exterior maintenance of the building, property insurance and property taxes. They are usually quoted on a per square foot basis. Are There Any Other Expenses to Consider? The short answer is, yes.
Where can I find NNN properties for sale?
LoopNet also attracts the largest community of commercial real estate professionals looking for NNN Properties with more than 7 million members comprised of brokers, corporate executives, service providers, and more than 3 million buyers, tenants and other principals. Find NNN Properties for sale at LoopNet.com.