Also known as a Net Lease -- As used in the Income Approach -- A form of lease agreement which primarily mandates that the tenant pay not only a base monthly rent, but the taxes, insurance and maintenance of the property.
A lease of property whereby the tenant (lessee) is responsible for paying a prorated portion of all operating expenses. Also termed Triple Net Lease. Most retail properties will have NNN leases.
A lease in which the tenant (lessee) pays a prorata share of normal property expenses such as real estate taxes, insurance, maintenance, etc., thereby assuring the landlord (lessor) of a fixed income.