NNN Lease Calculator
Calculate triple net lease costs including base rent, CAM, taxes, insurance, and management fees. Free, instant, no login required.
What is a NNN Lease?
A triple net lease (NNN) is a commercial lease agreement where the tenant pays base rent plus three additional expenses: property taxes, insurance, and common area maintenance (CAM). This structure shifts most operating costs from the landlord to the tenant.
NNN leases are the most common lease structure for single-tenant retail, industrial, and some office properties. They provide landlords with a predictable net income stream while giving tenants more control over property expenses.
NNN vs Gross vs Modified Gross
In a gross lease, the landlord pays all operating expenses and bundles them into a single rent amount. In a modified gross lease, certain expenses are shared between landlord and tenant.
In a NNN lease, the tenant pays base rent plus all three net charges (taxes, insurance, and CAM). Understanding the difference is critical when comparing lease proposals because the "headline rent" on a NNN lease will always appear lower than a comparable gross lease.
Typical NNN Costs by Property Type
NNN expenses vary significantly by property type and location. Retail properties typically see higher CAM charges due to parking lot maintenance, landscaping, and common area utilities. Industrial properties tend to have lower CAM but may carry higher insurance costs.
As a general benchmark, total NNN charges typically range from $3 to $12 per square foot annually, depending on property type, age, and market. Always verify actual operating expenses with the landlord before signing.
How CAM Charges Work in a Triple Net Lease
CAM charges in a NNN lease cover the tenant's pro rata share of common area expenses. These typically include landscaping, parking lot maintenance, exterior lighting, property management fees, and shared utilities.
Tenants usually pay estimated monthly CAM charges throughout the year, with a reconciliation at year-end to adjust for actual expenses. Understanding CAM caps, exclusions, and base year provisions is essential for controlling occupancy costs.
Need to analyze a real NNN lease?
CREagentic's Lease Abstract Agent extracts every CAM provision, cap, and exclusion automatically. Start free.