Triple net (NNN) advice needed.

[Nolan Gottlieb]

Have you ever purchased any triple net properties? I know a NNN owner who has a VERY good tenant, nationally recognized, in place in an old walmart building. They've been tenants for 24 years with no intention of leaving, it's not retail. The building is in need of a new TPO roof, but they don't have the $800K needed to put a new roof on. He said he'd be willing to sell it to the right buyer and put a new roof on it as a part of the contract. I just don't have any experience in this world and would love to connect with someone who has bought something like this to ask some questions. Any recommendations?

[Chris Seveney]

@Nolan Gottlieb

What's your questions? First thing of course with any commercial deal is to review the lease. Typically in the lease deals we have seen a single tenant building with a NNN lease the tenant is responsible for the roof.