Full Definition
A modified gross lease falls between full-service and NNN. Typical structures include tenant paying utilities and janitorial, landlord paying taxes/insurance/structure. Terms vary widely — always read the specific lease carefully.
Related Terms
Full-Service Lease (Gross Lease)
Lease where the landlord pays all operating expenses (taxes, insurance, maintenance, utilities). Common in office buildings.
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.