What percentage of sales should rent be for retail?

Commercial tenants should be able to spend 5% to 10% of their gross sales per foot on rent. Your gross sales divided by the location's square footage will give you sales per square foot. For example, you estimate your business will make $300,000 per year in total sales, and you are looking at a 1,500 square foot space.

US Legal Forms
Localized Forms
New York
Bronx
Percentage Shopping Center Lease Agreement

Bronx New York Percentage Shopping Center Lease Agreement

Name: Bronx New York Percentage Shopping Center Lease Agreement
Brand: US Legal Forms
Rating: 4.82 (489 reviews)

Category:

Landlord Tenant - Commercial Leases - Shopping Centers

State:

Multi-State

County:

Bronx

Control #:

US-01626

Format:

Instant download

Description

This form is for the lease of property to be used as a shopping center. The landlord warrants that the demised premises may be used, but not limited to such use, by tenant, among others, for the conduct of a mercantile business of the type and kind known as a variety store, discount store, dollar store or variety discount store.

Revocation of Statutory Durable Power of A...

View this form

Freeware License Terms

View this form

Modification Agreement

View this form

Jump Bid

View this form

How to fill out Bronx New York Percentage Shopping Center Lease Agreement?

If you need to get a trustworthy legal document provider to obtain the Bronx Percentage Shopping Center Lease Agreement, consider US Legal Forms. Whether you need to launch your LLC business or manage your asset distribution, we got you covered. You don't need to be well-versed in in law to locate and download the appropriate template.

You can search from more than 85,000 forms arranged by state/county and case.
The self-explanatory interface, number of supporting materials, and dedicated support make it easy to locate and execute different paperwork.
US Legal Forms is a trusted service offering legal forms to millions of users since 1997.

You can simply select to search or browse Bronx Percentage Shopping Center Lease Agreement, either by a keyword or by the state/county the form is created for. After locating required template, you can log in and download it or save it in the My Forms tab.

Don't have an account? It's effortless to start! Simply locate the Bronx Percentage Shopping Center Lease Agreement template and take a look at the form's preview and description (if available). If you're comfortable with the template’s language, go ahead and click Buy now. Create an account and select a subscription plan. The template will be instantly ready for download once the payment is processed. Now you can execute the form.

Taking care of your legal affairs doesn’t have to be pricey or time-consuming. US Legal Forms is here to prove it. Our extensive collection of legal forms makes these tasks less costly and more affordable. Set up your first company, arrange your advance care planning, create a real estate agreement, or complete the Bronx Percentage Shopping Center Lease Agreement - all from the convenience of your sofa.

Form Rating

4.82

Satisfied(489)

Form popularity

FAQ

Commercial tenants should be able to spend 5% to 10% of their gross sales per foot on rent. Your gross sales divided by the location's square footage will give you sales per square foot. For example, you estimate your business will make $300,000 per year in total sales, and you are looking at a 1,500 square foot space.

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. You as the landlord must pay for routine maintenance, any necessary repairs, along with insurance.

A typical structure is 6 percent of the total rent for the first five years of the lease, 3 percent of the total rent for the next five years and 1.5 percent of the rent for the remaining term.

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.

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 $150,000 in Percentage Rent ($

Lease commission will be recorded as expense on the lease comment date if the lease contract is the finance lease with sale option. The transaction will classify as expense on the income statement.

1. Single Net 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.

Percentage leases are most commonly used for retail properties (especially malls). In a percentage lease, tenants pay a base rent plus a portion of the gross sales they make from conducting business in the building.

Commission is calculated on a lease by the gross lease value paid to the landlord. If it's a multi-year lease, it is paid on the gross value of the multi-year lease. For example, if a lawyer signs a three year lease, pays $2,000 a month, the lawyer pays a $24,000 annual rent to the landlord.

Ask for a rent-free period.Consider the duration of the term.Avoid putting your name down as the lessee.Keep away from personal guarantees.Negotiate repair obligations.Ensure that there's a break clause.Decide security of tenure.Look into a sub-letting clause.

Interesting Questions

More info

Percentage rent lease concept in retail real estate explained. Must take retail delivery from dealer's stock and terms subject to vehicle availability.To learn more about becoming a mall tenant, fill out the online form and a leasing representative will contact you about suitable space options. 9000 SF of Retail or Medical Space Available at 310 East Gun Hill Road, Bronx NY 10467. On the Southeast Corner of Perry Avenue. Search Bronx, NY retail space for lease on CityFeet. From Bronx, NY small retail spaces to space in shopping centers, find the option for your needs. JLL, as exclusive agent, is pleased to offer for sale 3217 Westchester Avenue. Sign Up for the Monthly Retail Newsletter. If you are thinking of taking up a commercial lease there is a lot to consider.

Bronx New York Percentage Shopping Center Lease Agreement

Description

Related forms

Viewed forms

How to fill out Bronx New York Percentage Shopping Center Lease Agreement?

Show more info

Form Rating

Form popularity

FAQ

What percentage of sales should rent be for retail?

What is the most common lease for retail property?

What are leasing commissions a percentage of?

How is rent percentage calculated on a lease?

What is an example of a percentage lease?

Is leasing commission an expense?

What is the most common commercial lease?

Which lease is most commonly used for retail properties?

How are lease commissions calculated?

How do you negotiate a shop lease?

Interesting Questions

What is Bronx Percentage Shopping Center Lease Agreement846174?

What are the key factors to consider before signing Bronx Percentage Shopping Center Lease Agreement846174?

What is the duration of Bronx Percentage Shopping Center Lease Agreement846174?

How much will it cost to lease a space in the shopping center?

What are the maintenance responsibilities of the tenant?

Can I use the leased space for any purpose?

More info

Trusted and secure by over 3 million people of the world’s leading companies