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Commercial property, also called commercial real estate, investment property or income property, is real estate (buildings or land) intended to generate a profit, either from capital gains or rental income. [1] Commercial property includes office buildings, medical centers, hotels, malls, retail stores, multifamily housing buildings, farm land ...
A triple net lease (triple-Net or NNN) is a lease agreement on a property where the tenant or lessee agrees to pay all real estate taxes, building insurance, and maintenance (the three "nets") on the property in addition to any normal fees that are expected under the agreement (rent, utilities, etc.).
A commercial leasing agreement is also called a commercial property, commercial real estate, business, industrial, and office space lease. [1] The individual in ownership of the property to be rented is called the lessor or landlord. [2] The lessee or tenant uses and rents the property owned by the lessor and provides them with monetary ...
In commercial real estate leases in the United States, the tenant, rather than the landlord, is usually responsible for real estate taxes, maintenance, and insurance. In a "net lease", in addition to base rent, the tenant or lessee is responsible for paying some or all of the recoverable expenses related to real-estate ownership.
The narrower term 'tenancy' describes a lease in which the tangible property is land (including at any vertical section such as airspace, storey of building or mine).A premium is an amount paid by the tenant for the lease to be granted or to secure the former tenant's lease, often in order to secure a low rent, in long leases termed a ground rent.
LoopNet is an online marketplace for commercial property, primarily providing commercial property listings for sale and for lease in the United States and is currently owned by commercial property data company CoStar Group.