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Lease of Retail Store with Additional Rent Based on Percentage of...

Pima Arizona Lease of Retail Store with Additional Rent Based on Percentage of Gross Receipts - Real Estate

Name: Pima Arizona Lease of Retail Store with Additional Rent Based on Percentage of Gross Receipts - Real Estate
Brand: US Legal Forms
Rating: 4.87 (434 reviews)

Category:

Leases - Commercial

State:

Multi-State

County:

Pima

Control #:

US-00818BG

Format:

Instant download

Description

This form is a commercial lease of a building and land for the operation of a retail store with a set amount of rent along with a percentage of the gross receipts of the store as additional rent.

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FAQ

Triple Net Lease: It is one of the most common lease types.

And, how the most common retail leases are structured: Single net lease. A single net lease, or net lease, is an arrangement where the tenant pay for utilities and property taxes.

A percentage lease is a type of lease where the tenant pays a base rent plus a percentage of any revenue earned while doing business on the rental premises. It is a term used in commercial real estate.

A common method for determining percentage rent is to use a natural breakpoint. A natural breakpoint is calculated by dividing the base rent by an agreed percentage. The percentage rent payable by a tenant will then be equal to this percentage multiplied by the amount by which gross sales exceeds the breakpoint.

An addendum to a lease is a separate legal document added by the landlord to the original lease agreement between the landlord and a tenant. Lease addenda are used to provide additional information that the original lease does not cover.

Due to its structure, a percentage lease is most commonly used when negotiating with a retail tenant, especially if that tenant is going to be joining in on a multi-tenant retail space like a mall or shopping center. The draw behind this lease type is that it can be mutually beneficial to both the landlord and tenant.

There are, in general, four types of leases: the gross lease, the modified gross lease (or net lease), the triple net lease, and the bond lease.

A net lease is perhaps the most common form of commercial lease agreement. With a net lease, the tenant is responsible for a base rent payment, plus additional expenses associated with the property.

Tenants in percentage leases pay a base rent plus a percentage of their monthly or annual revenue. As a result, the base rent is typically reduced even further compared to a net or gross rent payment. In addition to negotiating the base rent, a breakpoint may be negotiated by the landlord and tenant.

Under this scenario, the Percentage Rent in a letter of intent is written as Tenant to pay Landlord ten percent (10%) of Tenant's Gross Sales at the Property. For example, if the tenant leases 5,000 square feet and first year annual Gross Sales were $1,500,000, tenant would pay landlord $150,000 in Percentage Rent ($

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Requiring Appellant's business to generate sufficient revenue to trigger a "percentage of revenue" rent provision in the Lessee. A percentage lease requires tenants to contribute a portion of their revenue from the rented premises to the landlord in addition to base rent.Property is located on the University of Nevada, Reno campus. For inclusion in the 2017 Census of Agriculture.

Pima Arizona Lease of Retail Store with Additional Rent Based on Percentage of Gross Receipts - Real Estate

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What is the most common type of lease?

Which type of lease is most common for retail property?

What type of lease calls for an additional percentage?

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What type of tenant uses a percentage lease most often?

What are the four primary types of leases?

What is the most common type of commercial lease?

What's the difference between a percentage lease and a net lease?

What is an example of a percentage lease?

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