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Enter the full legal name of this party exactly as it appears on their ID or business registration.
Enter the full legal name of this party exactly as it appears on their ID or business registration.
A Triple Net (NNN) Lease is the commercial lease structure in which the tenant pays base rent plus all three 'nets' — real property taxes, building insurance premiums, and maintenance and operating costs — in addition to base rent. This shifts virtually all ownership costs to the tenant, making the landlord's income largely passive and predictable. Widely used for retail, restaurant, industrial, and office tenancies. NNN leases require detailed CAM (Common Area Maintenance) reconciliation provisions, expense cap mechanisms, and audit rights to prevent abuse. One of the most complex lease forms in commercial real estate. Fill out this free triple net (nnn) lease agreement template online, e-sign it digitally, and download a legally valid PDF. no account or lawyer needed. Sections: Parties, Premises & Term.
This Triple Net Lease Agreement (the "Lease") is entered into as of ______________ by and between ______________, located at ______________ ("Landlord"), and ______________, located at ______________ ("Tenant").
Landlord hereby leases to Tenant, and Tenant hereby leases from Landlord, the premises consisting of approximately 0 rentable square feet located at ______________ (the "Premises"). This Lease grants Tenant the non-exclusive right to use the Common Areas of the building and project in common with other tenants and Landlord, subject to the rules and regulations established by Landlord from time to time.
The term of this Lease (the "Term") shall commence on ______________ (the "Commencement Date") and shall expire on ______________ (the "Expiration Date"), unless sooner terminated in accordance with the provisions hereof.
Tenant shall pay Landlord monthly base rent of $0.00 per month (the "Base Rent"), due and payable in advance on the first day of each calendar month throughout the Term. Base Rent shall be increased on each anniversary of the Commencement Date as follows: ______________. If the Commencement Date is not the first day of a calendar month, Tenant shall pay a prorated amount of Base Rent for the partial month. All rent shall be payable at Landlord's address set forth above, or at such other place as Landlord may designate in writing. If any rent is not received within five (5) days of its due date, Tenant shall pay a late charge equal to 5% of the overdue amount.
This Lease is a triple net lease. In addition to Base Rent, Tenant shall pay or reimburse Landlord, as additional rent, for Tenant's proportionate share of all of the following costs and expenses (collectively, "Additional Rent") in connection with the Premises and the building and project in which the Premises are located: (a) TAXES: All real property taxes, special assessments, and other governmental charges levied against the Premises, the building, and the land, including any increase therein resulting from any reassessment triggered by a sale or other transfer of the Premises. (b) INSURANCE: Landlord's cost of maintaining property insurance (fire, extended coverage, and such other hazards as Landlord deems appropriate), commercial general liability insurance, and such other insurance as Landlord may reasonably require for the building and project. (c) OPERATING COSTS AND CAM: All costs of operating, managing, maintaining, repairing, and replacing the building and project, including but not limited to: property management fees (not to exceed 5% of gross rents), utilities for common areas, cleaning and janitorial services for common areas, landscaping and snow removal, security systems, parking lot maintenance and resurfacing, elevator maintenance, fire protection systems, and all other costs reasonably incurred in the operation of a first-class commercial property. Tenant shall receive annual reconciliation statements and shall have the right to audit Landlord's records within 60 days of receipt.
Notwithstanding the foregoing, Controllable Operating Costs (defined as all CAM costs other than insurance, real estate taxes, and costs directly attributable to Tenant) shall not increase by more than 5% per calendar year on a cumulative, compounding basis. The cap applies only to Controllable Operating Costs and does not apply to insurance premiums, real estate taxes, utilities, or costs resulting from extraordinary events.
"Tenant's Proportionate Share" means a fraction, the numerator of which is the rentable square footage of the Premises (0 sq. ft.) and the denominator of which is the total rentable square footage of the building, as determined by Landlord. Tenant's Proportionate Share may be adjusted if the total rentable area of the building changes. Landlord shall provide Tenant with an estimate of Additional Rent for each calendar year, and Tenant shall pay such estimated amounts in equal monthly installments. At the end of each calendar year, Landlord shall provide Tenant with an annual reconciliation statement, and any overpayment shall be credited to Tenant's next installment, or any underpayment shall be paid by Tenant within 30 days.
Upon execution of this Lease, Tenant shall deposit with Landlord the sum of $0.00 as a security deposit. The security deposit shall be held by Landlord without interest (except as required by law) as security for Tenant's faithful performance of all terms and conditions of this Lease. Landlord may use any portion of the security deposit to remedy Tenant's default or to pay costs of cleaning and repair at the expiration of the Lease. Landlord shall return the unused portion of the security deposit within 30 days after the expiration of the Term and Tenant's full vacation and surrender of the Premises.
Tenant shall use the Premises solely for the following purpose: ______________ (the "Permitted Use"), and for no other purpose without Landlord's prior written consent. Tenant shall not use the Premises for any unlawful purpose or in any manner that will increase Landlord's insurance premiums or violate any certificate of occupancy, zoning ordinance, or applicable law. Tenant shall operate continuously during normal business hours throughout the Term.
Tenant shall, at Tenant's sole cost and expense, keep and maintain the Premises and all fixtures, equipment, and improvements therein in good order, condition, and repair, and in compliance with all applicable laws, including: (a) interior surfaces, floors, walls, and ceilings; (b) all plumbing, electrical, heating, ventilating, and air conditioning (HVAC) systems serving the Premises exclusively; (c) all plate glass; (d) Tenant's signs; and (e) all other portions of the Premises not specifically maintained by Landlord. Landlord shall be responsible for maintaining the structural elements of the building, roof, foundation, and exterior walls, and shall maintain and repair all building systems (HVAC, plumbing, electrical) that serve multiple tenants in common.
Tenant shall not make any alterations, improvements, or modifications to the Premises without Landlord's prior written consent, which shall not be unreasonably withheld for non-structural improvements. All approved alterations shall be made by licensed contractors at Tenant's expense and in accordance with plans and specifications approved by Landlord. Tenant shall provide lien waivers from all contractors. Unless Landlord notifies Tenant in writing at the time of approval, all alterations shall remain on the Premises at the expiration of the Lease and shall become Landlord's property.
Tenant shall not assign this Lease or sublet the Premises or any portion thereof without Landlord's prior written consent, which shall not be unreasonably withheld. Landlord's consent shall not be required for an assignment to an affiliate of Tenant or in connection with a merger or acquisition involving Tenant, provided that the assignee's financial condition is equal to or greater than Tenant's. Any permitted assignment shall not release Tenant from its obligations under this Lease.
This Agreement shall be governed by and construed in accordance with the laws of the State of ______________, without regard to its conflict-of-laws principles.