Those who work in commercial real estate know that the triple net lease or, commonly called, NNN lease is only becoming popular by the day. Despite the popularity, the NNN lease is still frequently misunderstood by many commercial real estate professionals, and of course, the general public. So, let's better understand the triple net lease, its pros and cons, and look at how to find NNN properties for sales.
What is a triple net lease?
A triple net lease or an NNN lease is a type of lease agreement in which the tenant agrees to pay for all operating expenses associated with a property and the rent cost. Each “N,” or “net” in triple net designates one operating expense category that the tenant is responsible for. The operating expenses of commercial properties include real estate taxes, building insurance, and maintenance.
To understand more clearly, in a single net lease agreement, the tenant agrees to pay for one of the above expenses. Likewise, in a double net lease agreement, the tenant agrees to pay for two of these expenses. So, a triple net lease agreement means that the tenant is responsible for all three property expenses.
NNN lease pros and cons
A triple net lease can be beneficial for both owners and tenants. As you imagine from the owner's perspective, the NNN lease looks quite lucrative. The owners are free from incurring any unexpected or inconsistent costs over time. This ensures that their income from the property remains steady.
When you look at the triple net lease from the tenant’s standpoint, the key benefit is that you get the total control of a property without even owning it. This is helpful when you’re buying a franchise of a fast-food brand, as you might want to give the property a complete makeover and make a few other adjustments before you're ready for business. Also, since the tenants are taking on most of the cost, these properties are available at lower rent rates.
The tenants mostly bear the downsides associated with triple net lease agreements. Firstly, they take on more expenses, more management, and other responsibilities that come with the NNN lease. Even when the business of the tenants takes a hit, they are still required to pay the same rent cost to the owners. Apart from this, they are also required to pay for weather damage and other repairs.
How to find NNN properties for sale
Finding NNN properties for sale can sometimes be tricky. Many listing platforms do not provide filters that can help you exclusively look for NNN properties and other associated aspects. That said, there exist a few that lets you search for specific properties with NNN leases.
You can explore these below-mentioned platforms to find NNN properties for sale. Some of these will allow you to search properties by asset class, tenant type, and tenant names to help you find a triple net proprietary ideal for you.
- Marcus & Millichap
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5 DIY Christmas tree ornamentsRead More
It’s that time of the year where everything is just so ethereal and mesmerizingly beautiful. The snowflakes are a treat to watch and super fun to play with. Shopping is indeed a major part of the season, where one needs to purchase everything from Christmas trees to presents to Christmas tree ornaments. But wouldn’t it be nice, if we could make our own personalized Christmas ornaments? Christmas sale is on almost everywhere and purchasing from the Christmas ornaments clearance wouldn’t be the apt thing to do. DIY’s are here to your rescue and now it’s time for us to make our very own Christmas tree ornaments.
Here are 5 Christmas tree ornaments that you can make yourself
- You can design glass ornaments: Glasses can be found in abundance at one’s home and to convert it into glass Christmas ornaments, one would need glass paint, stickers, glitters, rhinestones, and other decorative items. From used glass tumblers to glass bowls, one can use anything that’s available and convert it into beautiful Christmas ornament balls. But before you start painting your glass bowl, make sure you wear gloves and are extremely cautious and careful while painting it. This DIY is ideal for adults and not for kids without adult supervision.
- Nature is the way to go: From seashells to used wood logs, you can use a range of naturally available items and make beautiful Christmas tree ornaments and wooden Christmas ornaments. Wooden spoons, wooden plates, and wooden logs can be used to make these ornaments. Glitters or rhinestones can be added to them along with some design using acrylic paint. Seashells can be collected in bowls and decorated with bows made of color paper. Just by using what’s available, one can indeed do a lot.
- Bits and pieces: Creating a creative piece of the ornament using bits and pieces of material available is the new trend, which is both creative and light in one’s pocket. Used socks can be used to create an animal like a toy which will look great on your Christmas tree. Used pompoms to old buttons, anything, and everything can be combined to create a beautiful piece of Christmas ornament.
- Books are the way to go: Hang in your favorite Christmas book and make your tree look breathtakingly beautiful.
- All that bling: Hanging old jewelry on your Christmas tree will beautify your tree even more. Just pick up the ones that are too old to use, arrange them beautifully and hang it on your tree. These can also be used inside bowls as outdoor Christmas ornaments balls.
Try these Christmas ornaments at home and make this festive season even more colorful and fun.
5 budget Android smartphones to noteRead More
With smartphone technology evolving each day and rates soaring higher than ever before, it has become increasingly difficult to decide on the best phone. A strange case of the paradox of choice, smartphone shopping can be an anxiety-inducing task for many. To help you avoid the stress of choosing the right smartphone, here is a brief list of the top five great budget Android smartphones in the market right now.
Google Pixel 6a
Priced at the higher end of the budget range, the Google Pixel 6a costs $450 and checks a lot of boxes for what you would expect from a smartphone; a Tensor chipset, a 6 GB RAM, 12 Megapixel rear camera with an ultrawide lens, an IP67 rating, and more. The phone offers 4,400 mAh of battery, along with 5G connectivity and hearing aid compatibility.
OnePlus N20 5G
The Nord N20 5G costs only $299, but offers a decent experience with its Snapdragon 695 Processor and 6 GB RAM. The 4,500 mAh battery on the phone gives it around 10 hours of screen time, and the 33W SuperVOOC ensures quick and efficient charging. The phone has a stellar design for its price range, and offers three years of bi-monthly security patches.
Samsung Galaxy A53
The Samsung Galaxy A53 has an Exynos processor and a 120 Hz OLED display with an under-display fingerprint sensor, a 64-megapixel primary camera and 12-megapixel ultra wide camera. Priced at $450, the phone is slated to get four years of OS updates and five years of security patches, implying that the phone will stay up to date and secure until 2027. It uses an Android 12 with One UI 4.1 operating system, 6 GB RAM, and offers 5,000 mAh of battery.
Moto G Stylus 2022
Miss using the stylus? The Moto G Stylus 2022 is one of the only phones in the budget range that offers a stylus that tucks into the device. The phone offers decent performance with its MediaTek Helio G88 SoC and 6 GB RAM, along with a smooth 90 Hz display, and a 5,000 mAh battery. The rear camera has a 50 MP primary, while the front camera has a 16 MP resolution. The phone is priced at $300, making it a rather affordable Android smartphone option among the best ones.
The Nokia G50 has a 6.82 inch display, with a Snapdragon 480 chipset, and is available in two RAM sizes – 4 GB or 6 GB. It features Android 11 software and offers a 5,000 mAh battery, ensuring lasting excellence in terms of performance for casual usage. Priced at $299, the phone is extremely affordable, and has a 48 MP rear camera, for brilliant picture quality.
While some phones offer better specs than others, it is up to the customer to decide what they are looking for; lasting battery, excellent graphics, camera quality, or its gaming performance. While the best budget smartphones try to offer a little bit of everything, they may also sometimes lack in terms of build quality, processors, or storage options. For the smart buyers out there, it is all about choosing the right smartphone to match their needs and usage goals.