A NNN (triple net) lease includes base rent plus three costs the tenant pays on top: property taxes, building insurance, and common area maintenance (CAM). It does not by default include the roof, the structure or capital replacements; those stay with the landlord unless the lease moves them to the tenant, as an absolute NNN lease does. This is general information, not legal advice; the lease controls. Background: договор тройной чистой аренды (triple net).
Written by the Реалист team with AI assistance (Claude). Reviewed by Реалист's SEO/GEO review desk (AI-assisted, not independent of Реалист) before it went live. Links checked and page updated 21 October 2026. Реалист sells lease and valuation analysis tools.
Who pays what, by lease type
| Cost line | Брутто | Одиночный net (N) | Двойная чистая аренда (NN) | Тройная чистая аренда (NNN) | Absolute NNN |
|---|---|---|---|---|---|
| Base rent | Арендатор | Арендатор | Арендатор | Арендатор | Арендатор |
| Налоги на недвижимость | Арендодатель | Арендатор | Арендатор | Арендатор | Арендатор |
| Building insurance | Арендодатель | Арендодатель | Арендатор | Арендатор | Арендатор |
| CAM (common areas, upkeep) | Арендодатель | Арендодатель | Арендодатель | Арендатор | Арендатор |
| Roof and structure | Арендодатель | Арендодатель | Арендодатель | Usually landlord | Арендатор |
| Capital replacements | Арендодатель | Арендодатель | Арендодатель | Set by the lease | Арендатор |
This is the usual allocation. A modified gross lease splits costs as the lease writes them, so the name tells you little.
NNN vs gross, and NN vs NNN
| Сравнение | The difference | Проверьте в договоре аренды |
|---|---|---|
| NNN vs gross lease | Gross is one all-in number and the landlord absorbs cost increases. NNN is a lower base rent plus billed charges, and the tenant absorbs increases. | Whether a gross lease has an expense stop or escalation clause |
| NN vs NNN | The extra N is maintenance (CAM). Under NN the landlord keeps the upkeep of common areas. | How CAM is defined and capped |
| NNN vs absolute NNN | Absolute NNN also puts roof, structure and capital items on the tenant. | Who owns the roof and structure |
Пример расчёта (иллюстративные цифры)
Take 10,000 sq ft quoted at $24.00 psf NNN, with estimated nets of $4.00 for taxes, $1.00 for insurance and $3.00 for CAM. These are made-up numbers for the arithmetic only.
- Base rent: $24.00 x 10,000 = $240,000 a year.
- Nets: $8.00 x 10,000 = $80,000 a year.
- All in: $32.00 psf, or $320,000 a year.
A $30.00 gross quote for the same space is the cheaper one. Comparing the two without adding the nets back is an easy error to make.
Where the quoted rate misleads
- Nets are estimates. They are reconciled after year end and the tenant pays any shortfall. A pending tax reassessment can push the true-up well above the quote: see CAM reconciliation.
- CAM is defined by the lease. Management fees, admin loads, capital items amortized into CAM and caps are negotiated, so two buildings quoting the same nets can bill differently.
- The label does not settle the roof. An ordinary NNN lease and an absolute NNN or bondable lease carry the same three letters and are different investments.
Why the structure moves value
Under NNN the tenant absorbs rising taxes, insurance and maintenance, so the landlord's net operating income is steadier than the same income under a gross lease. Whether buyers pay for that is a question for the sales comps, not the label. A single-tenant NNN building is only as good as the tenant's credit and the remaining term: see how to underwrite a single-tenant net lease.
Чего это не заменяет
A выписка из договора аренды points to the clause each term came from, and an underwriting run uses those terms. Neither replaces the lease, a CAM audit, or counsel's advice on what a tenant has agreed to pay.
Вопросы и ответы
What does a NNN lease include?
Base rent plus three costs the tenant pays on top: property taxes, building insurance, and common area maintenance (CAM). Roof, structure and capital replacements are not part of the label; they stay with the landlord unless the lease moves them to the tenant.
What does triple net mean in a commercial lease?
Triple net means the tenant pays the three nets, property taxes, insurance and maintenance, in addition to base rent, so the rent reaches the landlord net of those costs. Single net covers taxes only and double net covers taxes and insurance.
What does psf NNN mean?
It is base rent in dollars per square foot per year, quoted without the net charges. A listing at $24 psf NNN means $24 per square foot of base rent, with taxes, insurance and CAM billed on top.
What are NNN charges?
NNN charges are the tenant's share of the building's property taxes, insurance and common area maintenance, usually quoted as one estimated dollars-per-square-foot figure and reconciled against actual costs after year end.
Is a NNN lease good for a tenant?
It depends on the building and the clauses. The tenant sees the real occupancy cost line by line, but carries increases in taxes, insurance and repairs. Caps on controllable CAM and a clear roof clause matter more than the label.