Full Definition
Single-tenant net lease properties are commercial buildings leased to one tenant for a long term (usually 10-25+ years) under NNN or absolute NNN structure. Common examples: Walgreens, CVS, Dollar General, AutoZone, Chick-fil-A, Starbucks. Popular with passive investors and 1031 buyers.
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.
Multi-Tenant Property
Commercial property with multiple tenants. Includes retail shopping centers, office buildings, and industrial parks.
Absolute NNN Lease
The purest form of NNN lease — tenant is responsible for everything including roof and structure.