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With over 20,000 NNN Properties for sale, it is important to know how to identify the best NNN Properties for Sale.
The Best Triple Net Properties for Sale Should:
NOT COMPETE WITH AMAZON
Perform well in a recession
Perform well during a pandemic
Be a public corporation
Have an investment-grade credit rating
Have guaranteed lease payments
No rent holidays
Longest possible lease
Multiple renewal options
Have an investment-grade credit rating
Have rent increases at each option period
Have a population of 10,000+ people within a 5-mile radius
Have a stable or expanding population
Have a minimum of 3,000 cars per day passing the property
Have a good number and diversity of employers in the area
Offer a superior return compared to other asset classes
Offer a superior return compared to other triple-net tenants
Have a size and layout that will make it easy to re-tenant the property if necessary
Our AI-agent notifies you within one hour of a property matching your criteria. Don’t miss out—fill out the form, and we’ll do the rest!
NNNs vs DSTs - Which Are Better?
NNNs vs DSTs - Which Are Better?
| Aspect | Triple Net (NNN) Properties | Delaware Statutory Trusts (DSTs) |
|---|---|---|
| Income Stability | High - Income guaranteed for the length of the lease | Low Income projected on sponsor's assumptions |
| Sponsor Risk | None - You are in complete control | High - Dependent on sponsor's competence and integrity |
| Lease Terms | Long-term (10–25 years) | Varies based on portfolio |
| Management | Tenant handles ALL responsibilities | Fully managed by trustee/sponsor |
| Control | High - Direct ownership, full control over decisions | Low - No control over management, lease terms, or sale |
| Tax Benefits | Depreciation deductions, 1031 exchange eligibility | 1031 exchange eligibility |
| Initial Investment | High - Significant upfront capital required | Lower - Accessible with smaller investment amounts |
| Diversification | Low - Typically one property | High - Often includes a portfolio of properties |
| Potential Returns | Potentially high, especially with property appreciation | Potentially lower due to management fees and shared returns |
| Risk | Tenant risk - If tenant defaults, investor covers interim costs | Spread risk - Diversified properties reduce individual property risk |
| Liquidity | Moderate - Direct sale of property possible | Low - Hard to sell shares before trust liquidation |
| Complexity | Lower - Direct property ownership is straightforward | Higher - Complex structure with potential higher fees |
Diversify Your Portfolio Now with Triple Net Properties
With Triple Net Companies, you can find top-rated net lease and 1031 exchange properties for sale that help you earn a steady income for many years with no work. We source NNN properties from multiple listing sites as well as from developers with whom we have deep relationships ensuring that you have timey access to the best properties. Fill out the form. We’ll do the rest.
What Comes with a Triple Net Lease for Sale?
When considering the purchase of a triple net lease (NNN) property, understanding the terms of the lease is critical. These provisions can significantly impact your potential returns and the long-term viability of your investment. Below are the key elements commonly included in a NNN lease and what they mean for you as an investor:
- Rent Amount: The lease specifies the base rent, typically paid monthly by the tenant. Look for provisions such as automatic rent escalations, which ensure your income grows over time. These increases can enhance your long-term return on investment and hedge against inflation.
- Lease Term: A longer lease term with a financially stable tenant provides predictability and reduces turnover risk. Review the start and end dates, and check for renewal options that could extend the tenant’s commitment, further stabilizing your cash flow.
- Property Use: The use clause outlines how the tenant can utilize the property. This ensures the property is used appropriately and aligns with zoning requirements. A well-defined use clause protects the property’s value and minimizes the risk of misuse.
- Pro-rata Operating Costs: In a NNN lease, tenants are typically responsible for covering property taxes, insurance, and maintenance expenses. Some tenants, such as Dollar General, will have you pay the taxes then be reimbursed by Dollar General. Confirm that these expenses are adequately accounted for in the lease terms to avoid unexpected liabilities.
A well-structured lease with a strong tenant will offer stable, passive income with no management responsibilities for many years.
Benefits of a Triple Net Lease for Sale
Triple net leased (NNN) properties offer investors a unique combination of stable income and low management responsibilities, making them an attractive choice for those seeking passive investment opportunities. With NNN leases, tenants cover most, if not all, of the property’s operating expenses, including property taxes, insurance, and maintenance, allowing investors to enjoy predictable income. Additionally, these leases often come with long-term agreements and creditworthy tenants, reducing vacancy risks and providing a reliable cash flow. Investors also benefit from owning real estate tied to essential businesses, while the passive nature of the investment allows them to focus on other ventures or enjoy more personal time.
Exclusive Buyer Representation for Triple Net Investments
Triple Net Companies, Inc. is dedicated exclusively to representing buyers, ensuring our clients have access to the broadest selection of triple net properties nationwide. We source NNN properties from every listing broker, every listing site, and numerous NNN developers, including off-market opportunities currently under construction. Our unwavering loyalty is to you, the investor. Simply share your investment criteria with us, and we will handle the rest with diligence and precision.
For investors seeking to transition from the challenges of property management to the ease of passive income, triple net leased properties offer an ideal solution. With over $2 billion in successfully closed transactions, our expertise and proven track record ensure a seamless experience. We understand that entering the net lease market can be complex and overwhelming, but our experienced team is here to guide you every step of the way. From identifying suitable properties that align with your objectives to managing the intricacies of the transaction, we are committed to delivering exceptional service.
NNN Lease Landlord Benefits
The primary advantage of a triple net (NNN) lease for landlords is the consistent and reliable passive income stream it provides, as well as the assurance that rent will be paid in full and on time for the duration of the lease. Property management responsibilities are eliminated, as the tenant assumes responsibility for expenses such as taxes, insurance, and maintenance. As a result, landlords receive a steady income without the need for active involvement in the property.
Prominent tenants that typically utilize NNN leases include:
- Dollar General for Sale
- CVS
- Walgreens
- AutoZone
- Caliber Collision for Sale
- Starbucks for Sale
- McDonald’s for Sale
- Taco Bell for Sale
- Jack in the Box
- Burger King
Diversified Portfolio
An NNN lease is a valuable addition to an investor’s portfolio, offering diversification and fostering a more balanced investment strategy. By integrating both high-risk and low-risk assets, such as NNN properties, investors can safeguard their portfolios against market volatility. Moreover, the passive income and minimal management requirements of an NNN property free up time and resources, allowing investors to focus on more dynamic or demanding investments.
Tax Benefits of NNN Leases
Investing in triple net (NNN) properties can offer several potential tax benefits that enhance their appeal to investors:
- Depreciation Deductions:
Investors can claim depreciation on the property, even as it appreciates in market value. This allows you to reduce taxable income by deducting a portion of the property’s cost over its useful life. - 1031 Exchange Opportunities:
NNN properties are ideal candidates for 1031 exchanges, enabling investors to defer capital gains taxes by reinvesting proceeds from the sale of one property into a similar “like-kind” property. - Interest Expense Deductions:
If the property is financed, the interest paid on the loan may be tax-deductible, reducing the overall cost of borrowing. - Operating Expense Pass-Throughs:
Since tenants in NNN leases typically cover property taxes, maintenance, and insurance, landlords can avoid these expenses while still benefiting from potential deductions tied to ownership. - Qualified Business Income (QBI) Deduction:
Depending on how the investment is structured, rental income from NNN properties may qualify for the QBI deduction, allowing up to a 20% deduction on qualified income under certain conditions. - Capital Gains Tax Rates:
When selling an NNN property, gains are typically taxed at the favorable long-term capital gains tax rates, provided the property is held for more than one year. - Estate Planning Advantages:
NNN properties can be included in an estate with a step-up in basis for heirs, potentially reducing or eliminating capital gains taxes on inherited properties.
Consulting with a tax professional is essential to understand how these benefits apply to your specific financial situation and investment strategy.
What Are Examples of Triple Net Lease Properties
You are most probably familiar with most triple net properties as most investment-grade retail tenants occupy single tenant net leased properties. Here are some fast-food chains that offer triple net leases:
Fast Food (Quick Service Restaurants): KFC, Dutch Bros, McDonald’s, Bojangles, Starbucks, Burger King
Convenience Stores: 7-Eleven, Circle K, Chevron, and Stripes
Dollar Stores: Dollar General, Family Dollar, Dollar Tree
Auto Repair Shops: AutoZone, Firestone, Jiffy Lube, and O’Reilly
Retail Shops: Home Depot, Sherwin Williams
Medical Offices: Fresenius, DaVita, Aspen Dental
What Does NNN Lease Entail?
An NNN lease, or Triple Net Lease, is a commercial lease agreement where the tenant is responsible for covering three key property expenses in addition to the base rent:
- Property Taxes: The tenant pays all real estate taxes associated with the property.
- Insurance: The tenant covers the cost of insurance premiums for the building.
- Maintenance: The tenant is responsible for maintaining the property, including repairs and upkeep.
This type of lease shifts most of the financial and operational responsibilities from the landlord to the tenant, making it a popular choice for passive investors. Landlords benefit from steady, predictable income with minimal involvement, while tenants gain greater control over property-related expenses.
Landlord Responsibilities: Single-Tenant NNN Property vs. Multi-Tenant NNN Property
| Aspect | Single-Tenant NNN Property | Multi-Tenant NNN Property |
|---|---|---|
| Tenant Responsibilities | The single tenant typically assumes all property-related expenses, including taxes, insurance, and maintenance. | Each tenant is generally responsible for their pro-rata share of taxes, insurance, and maintenance, as defined in their leases. |
| Lease Management | Requires managing only one lease agreement, simplifying administration. | Involves managing multiple leases, ensuring compliance, and addressing varying lease terms and conditions. |
| Maintenance Oversight | The tenant is usually fully responsible for property maintenance and repairs. | The landlord may need to oversee common area maintenance (CAM) and coordinate tenant contributions to shared expenses. |
| Vacancy Risk | Higher risk due to reliance on a single tenant; a vacancy results in 100% income loss. | Lower risk as income is spread across multiple tenants; a single vacancy impacts only a portion of total income. |
| Common Areas | Typically, there are no shared common areas, reducing landlord oversight. | Landlord is responsible for maintaining and managing common areas such as parking lots, hallways, or landscaping. |
| Tenant Turnover | Less frequent tenant turnover, as leases are often long-term (10–25 years). | More frequent tenant turnover, requiring ongoing efforts to find and negotiate with new tenants. |
| Utility Management | Utilities are typically the sole responsibility of the tenant. | Landlord may need to manage shared utilities and allocate costs among tenants. |
| Complexity | Simpler to manage due to a single tenant and minimal landlord obligations. | More complex to manage, requiring coordination of multiple tenants, shared expenses, and potential conflicts. |
Any Disadvantage to Know About?
Even with a single-tenant net leased property leased to a multi-billion-dollar, investment-grade tenant with a 15-year lease, there are potential disadvantages to consider:
- High Dependency on a Single Tenant:
If the property’s income is entirely dependent on one tenant and the tenant defaults, the landlord faces significant income disruption. It is highly recommended to invest in properties with multi-billion-dollar tenants that will guarantee the lease at the corporate level. - Limited Rent Escalation:
Long-term leases often include annual rent increases, typically 1–2%. These increases may not keep pace with inflation or market rent growth. - Illiquidity of Investment:
Despite the high-quality tenant and lease, a single-tenant properties may be challenging to sell quickly. - Market Valuation Sensitivity:
The property’s value is closely tied to the tenant’s lease and credit rating. Any negative change in the tenant’s financial stability or business model could impact the property’s resale value, even if the tenant is still performing under the lease.
How to Find the Best Triple Net Property
Investing in triple net (NNN) properties requires a strategic approach to ensure your investment delivers consistent returns, long-term stability, and minimal risk. The best NNN properties are those that combine tenant reliability, favorable lease terms, and strong market fundamentals. To achieve this, it’s essential to look for properties that meet specific criteria.
An ideal NNN property should feature a tenant that is resilient during economic downturns, such as a public corporation with an investment-grade credit rating, and whose business model does not compete with industry disruptors like Amazon. The property should have a long-term lease with guaranteed payments, no unfavorable “weasel clauses,” and include regular rent escalations and renewal options.
Location is equally critical—properties in areas with a population of at least 10,000 within a five-mile radius, stable or expanding demographics, and high daily traffic (3,000+ cars per day) are more likely to sustain tenant demand. Additionally, regions with a diverse and robust employment base contribute to the property’s long-term value.
Finally, the property itself should offer flexibility, including a size and layout that facilitates easy re-tenanting, if necessary, while outperforming other asset classes and triple-net tenants in terms of returns. By focusing on these attributes, investors can identify NNN properties that offer both financial security and growth potential.
How We Can Help You Find the Best NNN Property
There is only one way to find the best triple net property:
-
- Deal with a broker that represents buyer’s exclusively to avoid any potential conflict of interest of listing brokers pushing their own listing over your best interests.
- Shop the entire market. There are multiple triple net listing sites. Triple Net Companies accesses these sites when searching for the ideal property for you.
- Use Independent Due Diligence: Having the company that will earn a commission based on their recommendation of a property can be a conflict of interest.
- Be set up to receive automated searches so that you are notified the moment a property that meets your requirements becomes available. Triple Net Companies’ automated search engine will notify you within one hour once a property that meets your requirements becomes available.
Why Use Triple Net Companies
At Triple Net Companies
We specialize exclusively in representing buyers. With over 20 years of experience and more than $2 billion in transactions closed, our expertise in effective due diligence is unparalleled. Our relationship with developers gives you access to the best properties before they hit the market. Plus, our services come at no cost to you, as we are compensated by the seller. Choose Triple Net Companies for expert guidance and exclusive opportunities in the triple net property market.
- Exclusive Representation for Buyers
- Proven Track Record
- Access to Exclusive Properties
- Comprehensive Due Diligence
Triple Net Properties for Sale
FAQ’s
A triple net lease requires the tenant to pay, in addition to rent, all of the property expenses that normally would be paid by the property owner, including real estate taxes, insurance, maintenance costs and utilities.
Typically, net lease assets tend to be single tenant, free standing buildings such as banks and fast food restaurants that can come with a corporate guarantee which makes the corporation, not the property, responsible for making your monthly payments.
A single-tenant, net-leased investment is typically a freestanding office, retail, or industrial building that is leased and occupied by one user or one company. Typically the tenant has committed to a long-term lease – usually longer than 10 years, and as long as 25 years with increasing rent over the lease term.
Many net-lease investors have previously owned other types of real estate but are looking for an investment that requires less maintenance and supervision. For example, many apartment investors end up selling their high-maintenance properties and then reinvesting the sale proceeds in single-tenant, net-leased retail properties, as do many landowners who have previously never received any income or tax benefits from their property.
Anyone can invest in single-tenant leased properties. Other than large institutional investors and life insurance companies who invest in triple net leases because of the security they offer, individual investors who own single-family rentals who are just tired of having to deal with tenants or are afraid their equity will be wiped out in another market shift, are ideal candidates, especially since they can sell their rental and exchange that equity, tax free, into a net-leased property.
While there are fewer risks related to investing in single-tenant, net-leased properties, as compared to more speculative real estate investments, tenants with non-investment grade credit profiles offer higher levels of risk. But that risk typically provides higher returns as well. And investors always need to think about the “re-leaseability” of a property if the tenant were to vacate the space.
Unlike traditional real estate investments whose valued is determined exclusively by the real estate itself, a single-tenant, net-leased property’s value is determined by a combination of factors including the tenant’s credit, the length of the lease and rental escalations over the term, and, last but not least, the real estate. In markets where the real estate experiences wide valuation swings, a single-tenant, net-leased property will maintain its value because of its bond-like, long-term lease and the credit tenant guaranty for the lease.
Net-leased properties are like all-weather tires. They are good investments in both good and bad economic times and in hot and cold real estate markets. Here’s why: a single-tenant net lease investment is guaranteed by the lease at pre-set rental rates. As an owner, you know exactly who will be a tenant in your building, how long that tenant will be there and exactly how much rent they will pay. That means you will derive a predetermined income from your investment, as long as the tenant is occupying the asset and current with the terms of their lease.
Testimonials
From the initial consultation to the closing of the deal, their team demonstrated unparalleled professionalism, deep market knowledge, and an impressive commitment to my investment needs.
Phil Gautney
Triple Net Companies exceptional guidance and remarkably thorough due diligence process ensured that my transaction proceeded smoothly. I wholeheartedly recommend their services and look forward to partnering with them for future investments.
Robert Thompson
Reasons Why NNN Properties are Superior to DSTs
Higher Returns
NNN properties typically offer higher returns than DSTs
No Fees
DSTs involve management fees regardless of how well the property performs, while NNN properties do not.
Liquid
NNN Properties are more liquid than DSTs. You can sell you NNN when you want.
Trustworthy Income
NNN investments are typically backed by multi-billion dollar corporations.
Simplified Regulatory Environment
NNN transactions typically involve simpler processes and fewer regulatory complexities compared to DST investments, which are subject to SEC regulations and intermediaries.
More Control
Owning a NNN property will give you control over your investment.
Guaranteed Income
NNN properties provide guaranteed income. DSTs offer preferred returns.
No Commissions
NNN buyers pay no commissions, DSTs may incur commissions ranging from 2% to 10% of invested equity plus backend fees.
Tax Advantages
NNN properties offer potential benefits such as depreciation deductions, enhancing tax efficiency for investors.
Flexibility in Property Selection
Investors have the flexibility to choose NNN properties that best align with their investment goals and criteria.
