If a warehouse/office property for lease is listed as: "$11.00/SF/NNN", does that include NNN? or are NNN on top of the $11?
The agent is raising their initial proposal because they said it didn't include the NNN. It seems shady so I am asking you smart folks if "$11.00/SF/NNN" typically means that NNN are included. Thanks!
[{"id": "htocw79", "text": "Nnn is triple net. Landlord doesn't pay triple net.", "replies": [], "depth": 1}, {"id": "htocyuy", "text": "The nets are not inlcuded in the $11/ft", "replies": [{"id": "htpvdrc", "text": "Seems to be the case, thank you", "replies": [], "depth": 2}], "depth": 1}, {"id": "htoeibm", "text": "I read that as NNN being separate", "replies": [{"id": "htpvg3u", "text": "Just what I was looking for, thank you", "replies": [], "depth": 2}], "depth": 1}, {"id": "htoep6m", "text": "$11/SF/Year + NNN fees. Need to ask broker what they are estimating the NNN fees to be.", "replies": [{"id": "htogx82", "text": "Ask for a breakdown of the NNN\u2019s. \n\nI\u2019m sure your client will want to know.", "replies": [], "depth": 2}], "depth": 1}, {"id": "htoil18", "text": "Does not include NNN cost. You should have an agent represent you. Landlord typically pays your broker so it doesn't cost you anything.", "replies": [{"id": "htojf7h", "text": "If it costs the seller, it costs the buyer.", "replies": [], "depth": 2}], "depth": 1}, {"id": "htojlqy", "text": "Make sure you ask for a breakdown of the estimated NNN expenses as well as a historical breakdown. I've seen very similar buildings have very different triple net costs.", "replies": [], "depth": 1}, {"id": "htoosil", "text": "When it doubt, assume you have to pay.", "replies": [{"id": "htpvj6a", "text": "+1 sage advice", "replies": [], "depth": 2}], "depth": 1}, {"id": "htopin6", "text": "11 psf Nnn, plus tmi/cam &amp; taxes/additional rent.  The $11 psf is triple net to the landlord", "replies": [], "depth": 1}, {"id": "htozeq0", "text": "Nope.", "replies": [], "depth": 1}, {"id": "htp09ey", "text": "The triple net is always on top, otherwise it wouldn't be triple net.", "replies": [], "depth": 1}, {"id": "htp13x4", "text": "Nnn would not be included.  This is a triple net lease", "replies": [], "depth": 1}, {"id": "htp25j8", "text": "Y\u2019all are amazing. So many great answers/comments/help. Thank you so much!", "replies": [], "depth": 1}, {"id": "htpc0ty", "text": "NNN means tripple net, which means the rate is net and you take care of the rest.", "replies": [], "depth": 1}, {"id": "htpim64", "text": "Agree with other posts that the nets would be on top of that.\n\nOne point - not everyone understands NNN to mean the same thing. Some leases include management fees, some don't, and some don't specify clearly. It's even more fun when they say triple net and you comment, \"Okay, so the tenant reimburses for taxes, insurance, and such\" and they reply that no, they're the landlord so they cover all that. Okay, so it's really a gross lease, you just like the chic label of NNN. Got it.", "replies": [{"id": "htpu9tn", "text": "Reminds me of a conversation I had with a broker about a Walgreens NNN. \n\nHe said it was NNN... but I would \"only\" be responsible for the roof, exterior and parking lot snow shoveling", "replies": [], "depth": 2}, {"id": "htpua17", "text": "Thank you! My Broker does that, Calls everything triple net when its not actually triple net.", "replies": [], "depth": 2}], "depth": 1}, {"id": "htpntzk", "text": "Advertised that way, tenant would be paying the NNN on top of the $11.", "replies": [], "depth": 1}, {"id": "htptzs3", "text": "in this case $11/SF/NNN could mean NNN included. Or NNN on top. I've learned not to go by what the listing says\n\nNNN can be on top of the listed rate. But it can also be included in the advertised rate. But the landlord can advertise it as NNN and also tell you he's paying the property taxes and CAM, or just the CAM but not the taxes, which then makes the lease not a NNN", "replies": [{"id": "htpvc8u", "text": "This is what I\u2019m seeing here as well. Thank you", "replies": [], "depth": 2}], "depth": 1}, {"id": "htqspec", "text": "NNN= taxes, insurance, common area maintenance", "replies": [], "depth": 1}, {"id": "htsgvvh", "text": "NNN is additional.", "replies": [], "depth": 1}]