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.
Lease under which the tenant pays the agreed-upon rent plus utilities, taxes, insurance and maintenance.