What is a triple net lease in commercial real estate?

@keshawn 

A triple net lease (NNN lease) is a type of lease agreement commonly used in commercial real estate where the tenant is responsible for paying not only the rent but also additional expenses associated with the property. These expenses typically include property taxes, insurance, and maintenance costs, hence the reference to "triple net". In a triple net lease, the tenant assumes a significant portion of the ongoing costs of property ownership, while the landlord retains ownership and investment benefits. The tenant typically pays a lower base rent in exchange for assuming these additional expenses.