I'm new, how do I triple net a commercial property? Any tips!

Member since 2019 · 2 posts · 1 vote

Hello! I'm new on commercial real estate, I have a property that I want to put on Triple Net lease. The property is in Auburndale, Florida, the building has about 1,600 sq feet. How do I find tenants? Any contracts I can look for example? And how I can advertise it? Any tips would be great! Thanks

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Ronald RohdePro Member

Attorney · Dallas, TX · Member since 2016 · 5k+ posts · 2k+ votes

Signage. Post on Craigslist and Facebook. What class is the property? I assume commissions won't be enough to attract most commercial brokers.

Hire a lawyer to provide a custom NNN lease for your building.

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Michael K GallagherBusiness Member
Real Estate Agent · Columbus OH · Member since 2018 · 1k+ posts · 1k+ votes
4y
Hey Jonathan, Your best bet is to really find a great land lord rep in that area. they will have all the systems set up already on how to advertise, and will your best bet on how to navigate the NNN lease. Is the property a stand alone unit? What business is currently or previously using the space? Depending on the type of space and what features it has, ceiling heights, docs, etc, will really drive what kind of tenant you will be marketing towards. Happy to discuss more, and I'm happy to connect you with a broker in your market, I work with a couple that might serve your area.
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Ronald RohdePro Member
Attorney · Dallas, TX · Member since 2016 · 5k+ posts · 2k+ votes
4y
Signage. Post on Craigslist and Facebook. What class is the property? I assume commissions won't be enough to attract most commercial brokers.
Hire a lawyer to provide a custom NNN lease for your building.
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Joel OwensBusiness Member
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Real Estate Broker · Canton, GA · Member since 2010 · 15k+ posts · 11k+ votes
4y
Before going wild and spending all this money you need to know current zoning and use for your building. You also need to find a highly skilled and experienced retail leasing broker local to that market.

When I buy properties to stabilize for cash in markets across the country I find the most experienced locally to help reposition the building.

A leasing broker can perform a (void analysis) to determine possible highest and best use for the property and what tenants are expanding, relocating, or starting a new business in the area.

Definitely get a good commercial attorney familiar with NNN and retail. You do not want to (wing it) to save costs in commercial. This is the big arena where mistakes can be amplified costing hundreds of thousands to millions in costs or potential upside value. I estimate certain costs happening each time I buy. Commercial attorney for lease negotiation. Leasing broker for locating tenants and getting LOI's etc.
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John M.
Investor · Fairfax, VA · Member since 2015 · 1k+ posts · 801 votes
4y
You can advertise it in loopnet
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