Triple Net (NNN) Lease Calculator
Use our free Triple Net (NNN) Lease Calculator to quickly estimate annual NNN charges (taxes, insurance, CAM), effective net rent, and tenant total occupancy cost, based on inputs like base rent, property taxes, insurance, CAM, and leased area. Perfect for landlords, tenants, brokers, and asset managers.
Triple Net (NNN) Lease Formula
These calculations split building-level expenses to tenants by their pro-rata share and add them to base rent to get the total occupancy cost. Adjust for caps, contribution structures, or specific lease clauses as needed.
How this Triple Net calculator works
The calculator takes building-level recoverable expenses (tax, insurance, CAM, others), multiplies each by the tenant's pro-rata share, and sums them to generate tenant NNN charges. It then adds those charges to base rent to show the tenant's total cost and the landlord's effective net rent. Use it to compare lease structures, evaluate offers, and prepare rent-roll projections. For precise lease negotiation, include documented expense definitions, caps, audit rights, and reconciliation rules.
When to use this Triple Net calculator
During lease negotiations to compare gross vs NNN offers
To model tenant total occupancy cost for budgeting and underwriting
For rent-roll projections and forecasting landlord net cash flow
When verifying CAM reconciliations or estimating year-end reconciliations
To compare full-service gross leases vs NNN leases across properties
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Typical NNN Expense Ranges & Benchmarks
NNN costs vary widely by property type, location, and property condition. Use these rough ranges to sanity-check inputs:
Property taxes
Insurance
CAM (maintenance, landscaping, common utilities)
Total NNN typical (low-mid markets)
Use local data and historical operating statements to refine these benchmarks—market taxes and service levels drive the largest variance.
Frequently Asked Questions
A lease where the tenant pays property taxes, insurance, and common area maintenance (CAM) in addition to base rent—shifting many property-level operating expenses to the tenant.
Usually: Leased Area ÷ Total Building Area. Some leases use rentable vs usable area or specific negotiated shares.
Typically no—capital expenditures are usually excluded or amortized per lease terms; some leases allow amortized capital pass-throughs with limits.
CAM caps limit annual increases or set ceilings on tenant recoveries—protecting tenants from large unexpected expense spikes. They should be modeled when present.
Landlord provides year-end reconciliations showing actual expenses vs tenant estimated payments; tenants then pay shortfalls or receive credits per lease terms.
Yes—many leases include a management fee (%) added to recoverable expenses; confirm if the lease allows this and whether it's capped.
Yes—underwriting often deducts a vacancy/collection loss % from gross base rent to estimate effective rent and NOI.
The calculator works for any NNN structure, but expense mixes differ by asset class—retail often has higher CAM and utilities; industrial may have lower CAM but different tax profiles. Customize inputs per asset class.