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Buy, Sell, or Value a Net Lease Property

Thank you for reaching out to Stonecliff. For inquiries or additional information, please contact our team using this form. 

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frequently asked questions

An Absolute NNN (triple-net) lease means the tenant is responsible for all property expenses—including real estate taxes, insurance, maintenance, roof and structure—leaving the landlord with passive, bond-like income. Always confirm via the lease whether roof/structure are explicitly tenant obligations.

CAP Rate = NOI ÷ Purchase Price. For example, if annual NOI is $602,914 and price is $11,710,000, the cap rate is approximately 5.15%. CAP is a snapshot return before financing and taxes.

NOI is gross base rent + contractually owed reimbursements (e.g., NNN reimbursements) minus landlord-paid operating expenses. For Absolute NNN, landlord expenses are typically zero, but verify the lease for any carve-outs (e.g., landlord admin fees, capital reserves, or casualty deductibles).

A Corporate Guaranty means the tenant’s parent company guarantees the lease obligations. Investors often evaluate the guarantor’s credit quality, financial statements, and store count when assessing risk.

Increases are scheduled rent bumps (e.g., 7.5% every five years) during the term and option periods. Options are tenant renewal rights (e.g., 4 × 5-year options). Together, they affect long-term yield growth and hold strategy.

Rent Commencement is the date base rent begins (often after delivery or fixturing). Lease Expiration is the end of the current term. These dates drive the remaining term (“13+ years remaining”) and timeline for rent bumps and options.

Common items include: Offering Memorandum, executed lease + amendments, SNDA/estoppel requirements, site plans and as-builts, rent roll, CAM reconciliation history, tax/insurance details, ALTA survey, title commitment, and environmental reports (Phase I). Request the current OM and data room link from the listing team.

Yes. We welcome broker representation. Please register your client prior to requesting the OM or a site visit. Co-op details are available from the listing team.

Yes. We can run a controlled, NDA-driven process with masked location details. Upon buyer qualification and NDA, we release the full OM and diligence materials.

Current rent & reimbursements, full lease file (with amendments), rent schedule and bump timing, recent CAM/tax/insurance history, tenant sales (if available), any landlord obligations, and a list of capital work completed. With these, we can target the right buyer pool and cap rate.

With clean diligence, 30–45 days is common for single-tenant NNN. Add time for lender underwriting, appraisal, survey updates, title clearance, and estoppel/SNDA if required by the PSA or lender.