Kings New York Triple Net Lease for Industrial Property

State:
Multi-State
County:
Kings
Control #:
US-01668-AZ-3
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Word; 
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Description

This form is for the lease of a commercial building. The document also provides that this lease will in all respects be treated as a triple net lease with all costs and expenses paid for by the lessee, including, but not limited to, real and personal property taxes; fire, casualty, theft, and liability insurance; trash removal; water, gas, electricity and other utilities; repairs and maintenance and all improvements.

As a leading provider of commercial real estate services, Kings New York offers a range of attractive leasing options, including the renowned Triple Net Lease for industrial properties in New York. The Triple Net Lease (NNN) is a popular choice among property owners and tenants alike, as it provides a fair and flexible arrangement for both parties. In a Triple Net Lease agreement, the tenant assumes responsibility for three essential expenses: property taxes, insurance, and maintenance. This leasing structure allows the landlord to transfer the burden of these costs to the tenant, resulting in a simplified and streamlined leasing process. With a Triple Net Lease, the tenant is essentially responsible for the property's operating costs, in addition to the rent. Kings New York recognizes that not all industrial properties have the same leasing requirements, and therefore offers different types of Triple Net Leases tailored to specific needs. These variations may include: 1. Absolute Triple Net Lease: In this type of lease, the tenant is responsible for all property-related expenses, including structural repairs, roof maintenance, and even major capital expenditures. This lease provides the highest level of control and cost-sharing for the tenant. 2. Modified Triple Net Lease: With a modified lease, the tenant shares some responsibilities with the landlord, usually related to structural repairs or capital improvements. These shared costs can be negotiated based on the specific property and tenant requirements, providing a more balanced leasing arrangement. 3. Double Net Lease: While not strictly a Triple Net Lease, the Double Net Lease is also commonly associated with industrial properties. In this lease structure, the tenant assumes responsibility for property taxes and insurance, while the landlord maintains responsibility for maintenance and repairs. 4. Bendable Lease: This lease type is specifically designed for tenants with credit issues or those who may not have the financial strength to assume all the costs associated with a Triple Net Lease. In a bendable lease, the tenant pays a higher base rent, and the cost of property taxes, insurance, and maintenance is included in the rent. Kings New York understands the importance of a fair and transparent leasing process, and their team of experienced real estate professionals is available to guide tenants and landlords through the complexities of Triple Net Leases for industrial properties. With their extensive knowledge of New York's real estate market and dedication to client satisfaction, Kings New York aims to provide the most suitable leasing solutions for all parties involved.

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FAQ

A triple net lease (triple-net or NNN) is a lease agreement on a property whereby the tenant or lessee promises to pay all the expenses of the property, including real estate taxes, building insurance, and maintenance.

Triple Net Leases A tenant will pay a monthly base rent, along with property and real estate taxes, insurance on the building, and substantially all maintenance costs. Maintenance costs in a triple net lease will generally include both operational expenses and capital expenditures.

In a single net lease, the tenant pays a lower base rent in addition to property taxes. Double net leases include property taxes and insurance premiums, in addition to the base rent. A triple net lease includes property taxes, insurance, and maintenance costs, in addition to the base rent.

Triple Net Lease Expenses The tenant in a triple net lease pays for all three categories of expenses on top of his base rent, as well as his own personal insurance premiums, utilities, and for things such as janitorial services.

A triple net lease (triple-net or NNN) is a lease agreement on a property whereby the tenant or lessee promises to pay all the expenses of the property, including real estate taxes, building insurance, and maintenance. These expenses are in addition to the cost of rent and utilities.

A triple net lease, also known as an NNN Lease, is a lease in which the tenant agrees to pay their pro-rata share of all expenses associated with property maintenance, taxes, and insurance, in addition to a predetermined base rental rate. These expenses are commonly referred to as operating expenses.

Calculating a Triple Net Lease Triple net leases are calculated by adding the yearly taxes on the property and the insurance for the space together and dividing that amount by the building total rental square footage.

Double net leases include property taxes and insurance premiums, in addition to the base rent. A triple net lease includes property taxes, insurance, and maintenance costs, in addition to the base rent.

To determine the triple net lease amount for each renter, add those monthly expenses and the monthly rental per square foot charges and multiply it by the number of square feet a renter is leasing. That is the monthly triple net lease amount.

In a triple net lease, op/ex consists of three main elements: property taxes, insurance and common area maintenance (CAM) fees. In a triple net lease, your annual rental obligation, called gross rent, will be your base rental rate plus operating expenses.

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This trend of NNN properties is growing in all sectors of CRE, not just in the retail real estate market nationwide. Triple net leases are sometimes abbreviated to NNN in a property listing.GXO is creating game-changing opportunities with our ever evolving logistics and supply chain management. Rent To Own CT Real Estate 247 Homes For Sale Zillow. Grants Pass has 53 commercial real estate spaces for lease, representing 287,716 sqft space. MGR's offerings also encompass a wide array of residential homes and investment properties for sale or lease in the Southern California …. Find commercial space and listings in Lake Ozark. New York YIMBY says "Yes In My Backyard" to new development, covering construction and real estate from a pro-growth perspective. Nehemiah properties.

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Kings New York Triple Net Lease for Industrial Property