NNN
Business & Finance abbreviation · Real Estate & Mortgage
| Stands for | Triple net lease |
|---|---|
| Categories | Business & Finance |
NNN stands for Triple net lease, a real estate & mortgage abbreviation.
Commercial lease in which the tenant pays the three main property costs, real estate taxes, building insurance and maintenance, in addition to base rent, leaving the landlord with a predictable net income.
Example: The pharmacy signed a 15-year NNN lease, so the owner just collects rent.
Usage notes
Single-tenant NNN properties leased to national chains are popular with investors seeking passive income. Rents are often quoted as a dollar amount per square foot "NNN," with estimated tenant expenses listed separately. An "absolute NNN" lease also makes the tenant responsible for structural repairs.
Related abbreviations
More real estate & mortgage abbreviations
- MBR – Master bedroom
- MIP – Mortgage insurance premium
- MLO – Mortgage loan originator
- MLS – Multiple listing service
- NMLS – Nationwide Multistate Licensing System
- NN – Double net lease
- NOD – Notice of default
- NOI – Net operating income
- P&I – Principal and interest
- PITI – Principal, interest, taxes and insurance
- PMI – Private mortgage insurance
- POA – Property owners association