Citypoint Group

CRE Term of the Week: Triple Net Lease (NNN)

A Triple Net Lease (NNN) is a type of commercial lease where the tenant is responsible for three major costs in addition to base rent:
1️⃣ Property Taxes
2️⃣ Insurance
3️⃣ Maintenance/Repairs
This lease structure is common in retail centers, office buildings, and freestanding commercial spaces.

Why it matters:
For landlords: Predictable income with fewer responsibilities
For tenants: Greater control over the property and often lower base rent

📊 Example: A tenant leasing a retail storefront under a NNN lease pays their own taxes, handles maintenance (like snow removal or HVAC repair), and contributes to insurance—on top of their rent.

📍 Considering NNN investments or signing one as a tenant? Know the pros, cons, and obligations before you commit.
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Meet the newest member of the Citypoint team!

With expertise, drive, and a client-first mindset, Steve Costello is here to help you achieve your real estate goals.

Steve Costello is a dedicated real estate professional specializing in multifamily and commercial properties. With a passion for real estate and a client-first mindset, he is committed to helping investors, buyers, and sellers navigate the market with confidence. Backed by Citypoint and a growing expertise in the industry, Steve provides valuable insights and strategic guidance to help clients maximize their investment potential. Whether you’re a first-time investor or looking to expand your portfolio, Steve is ready to support you at every step, ensuring a seamless and rewarding experience in multifamily real estate!