A Triple Net (NNN) retail lease is defined as a lease where the tenant (lessee) is responsible for everything associated with the property. The triple net or NNN lease is considered a “turnkey” investment since the landlord is not responsible for paying any repairs or operating expenses. It is very important to read the lease carefully and make sure it is a true NNN lease and that the landlord is not responsible for any expenses. The primary advantages of triple net lease investments are that you get a predictable revenue stream over the life of the lease.  The NNN retail lease is management free, so anyone can own a retail net lease property anywhere in the country because the tenant takes care of everything from the roof, HVAC system, parking lot, taxes, etc.  The landlord’s bottom line is protected even if taxes rise, the HVAC system needs replacing or there is roof damage. Because NNN retail lease shifts the responsibility or risk from the landlord to the tenant, typically the leases do not pay as high of a rate of return or cap rate than the Double Net retail leases.