Glossary
Triple Net (NNN) Lease
A lease in which the tenant pays property taxes, insurance, and maintenance in addition to base rent.
In a triple net (NNN) lease, the tenant is responsible for the three 'nets' — property taxes, building insurance, and maintenance — on top of base rent, leaving the landlord with a more predictable, passive income stream. NNN structures are common in single-tenant retail and industrial and are often favored by investors seeking durable, low-management cash flow, including 1031 exchange buyers.