Philadelphia Pennsylvania Triple Net Lease for Industrial Property

Name: Philadelphia Pennsylvania Triple Net Lease for Industrial Property
Brand: US Legal Forms
Rating: 4.55 (375 reviews)

Category:

Landlord Tenant - Commercial Leases - Triple Net

State:

Multi-State

County:

Philadelphia

Control #:

US-01668-AZ-3

Format:

Instant download

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.

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FAQ

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.

There are three basic types of net leases: single, double, and triple net leases. With a triple net lease, the tenant promises to pay all the expenses of the property, including real estate taxes, building insurance, and maintenance. These payments are in addition to the fees for rent and utilities.

From an investor standpoint, NNN Leases/Triple Net Leases offer a stable long-term real estate investment where the owner/investor has very little to do with the active management of the property. Normally, these leases are with credit worthy tenants with corporate guarantees.

NNN Cap Rate You will see all NNN properties for sale advertised with the cap rate, or capitalization rate, usually between 5.50% and 7.00%. This number is the level of equity return on your investment for a single year. A higher cap rate, which would indicate slightly more risk, typically provides a better ROI.

Benefits of a Triple Net Lease The most obvious benefit of using a triple net lease for a tenant is a lower price point for the base lease. Since the tenant is absorbing at least some of the taxes, insurance, and maintenance expenses, a triple net lease features a lower monthly rent than a gross lease agreement.

In general, a property with an 8% to 12% cap rate is considered a good cap rate. Like other rental property ROI calculations including cash flow and cash on cash return, what's considered "good" depends on a variety of factors.

Another advantage is that these leases tend to be quite flexible: caps to tax increases, insurance increases, etc. For the landlord, triple net leases can be a reliable source of income and have very few overhead costs. The landlord also does not have to play an active role in the management of the property.

In general, cap rates tend to vary based on location (and can range anywhere from 4% to 7%, though most tend to be somewhere between 4.8% and 5.25%), according to a few different variables including: Geographical Location.

What Is a Good Cap Rate for Multifamily Investments? Multifamily properties have one of the lowest average cap rates of any property asset type due to its lower risk. Overall, a good cap rate for multifamily investments is around 4% 10%.

Real estate subject to a triple net lease is sold on a cap rate based on the creditworthiness of the tenant. The cap rate is the capitalized annual rate of return that the marketplace requires for there to be a purchase of the property.

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Register to bid on this Industrial Property online. We work with local residents to ensure that our properties and tenants become part of the fabric of the community.Avison Young uses cookies to enhance your user experience. To find out more, read our privacy policy. Double net (NN) leases are also common in commercial real estate. Landlords who are in foreign land can lease out their commercial property with a triple net lease structure. Browse apartments and houses for rent, check prices, view property details, find the perfect place and submit your rental application with RentCafe. Results 1 - 14 of 14 — Search the most complete Johnstown, PA real estate listings for sale. Commercial real estate market report.

Philadelphia Pennsylvania Triple Net Lease for Industrial Property

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What are the three units in a triple net lease?

What is a triple net lease typically used for?

What is the benefit of a NNN lease?

What is a good cap rate for NNN?

Why do companies do triple net leases?

What is an acceptable cap rate on rental property?

Are triple net leases worth it?

What is a good cap rate for a triple net lease?

What is a good cap rate for a triplex?

What is a cap rate on a triple net lease?

Interesting Questions

What is a triple net lease for industrial property in Philadelphia?

What are the advantages of a triple net lease for industrial property in Philadelphia?

Are there any disadvantages to a triple net lease for industrial property in Philadelphia?

What expenses are typically covered under a triple net lease for industrial property in Philadelphia?

Can the landlord increase property taxes during a triple net lease?

Is tenant responsible for property insurance in a triple net lease for industrial property in Philadelphia?

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