Full Definition
A Double Net (NN) lease is similar to triple net but with landlord retaining responsibility for structural components — typically roof, structure, and sometimes HVAC. NN leases typically command lower rents than NNN and trade at slightly wider cap rates to compensate for the landlord's operational risk.
Related Terms
NNN Lease (Triple Net Lease)
A commercial lease where the tenant pays property taxes, insurance, and maintenance on top of base rent — making the landlord's income almost entirely passive.
Absolute NNN Lease
The purest form of NNN lease — tenant is responsible for everything including roof and structure.