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How do you find NNN properties for sale?
The short answer
To find NNN properties for sale, start with commercial listing platforms, net lease brokers, and property owners. Websites such as LoopNet and Crexi advertise triple net lease properties for sale, but not every opportunity reaches the public market.
Read the full answer ↓Where do you find NNN properties and triple net lease listings?
An asking price is not a verified property valuation. Buyers must examine actual rental income, lease obligations, and investment risks.
Four common sources provide different opportunities.
Investors may also find NNN properties for sale by owner. However, the listing source does not determine property value or investment quality.
$51.4 billion
U.S. net lease investment sales in 2025
According to Northmarq’s Q4 2025 Single-Tenant Market Snapshot, U.S. net lease investment sales totaled $51.4 billion in 2025. This figure covers the broader net lease market, not exclusively NNN properties.
What is a triple net lease agreement?
A triple net lease generally requires tenants to pay property taxes, insurance, and maintenance alongside base rent.
Understanding what is included in a triple net lease matters because some agreements leave roof or structural repairs with the landlord. An absolute net lease generally transfers more expenses to the tenant, depending on the signed terms.
How do off-market NNN properties for sale work?
Off-market NNN properties are properties offered privately without broad public advertising.
Owners or developers may approach brokers before publicly listing a property.
As a Certified Commercial Investment Member (CCIM) with more than 40 years of commercial real estate experience, I evaluate tenant guarantees, lease income, and property fundamentals before recommending a purchase.
An off-market property is not necessarily undervalued. Its financial performance and asking price still require verification.
How can buyers evaluate triple net lease properties for sale?
Before requesting extensive documents, review five essentials:
A capitalization rate measures annual net operating income (NOI) relative to a property’s purchase price, as explained by Nareit.
Cap rate
Net operating income ÷ Purchase price
For example, $150,000 in annual net operating income divided by a $3 million purchase price equals a 5% cap rate.
High cap rate NNN properties may carry greater tenant, location, or lease-expiration risks.
Review our guide to evaluating an NNN leased property.
Key NNN property terms
- Off-market property
- Real estate marketed without broad advertising.
- Cap rate
- Annual net operating income divided by purchase price.
- Offering memorandum
- Seller-prepared investment marketing document.
- Sale-leaseback
- Property sale followed by a lease to the seller.
How should 1031 buyers conduct a triple net lease property search?
According to IRS Publication 544, investors generally have 45 days to identify replacement property and 180 days to complete a deferred exchange, subject to applicable tax-return deadlines.
I recommend verifying tenant guarantees, financing, title, and closing feasibility before identifying replacement properties.
Key takeaways
- Search public marketplaces and broker networks.
- Explore developer and off-market opportunities.
- Verify tenant credit, lease obligations, and income.
- Screen exchange properties for closing feasibility.
Browse our NNN real estate for sale or share your investment criteria with Triple Net Companies.
Finding NNN properties for sale is straightforward. Selecting sound investments requires independent underwriting.
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