Convenience shops with single tenant net leases in the United States had an average length of 11 years as of the first quarter of 2023. Educational establishments and dollar stores, had the longest lease length of over 14 years. Triple net leases (NNN) are single tenant leases, where in addition to rent and utilities, the tenant is responsible for the additional property expenses, including taxes, insurance, and maintenance. These leases are common for office, retail, industrial, and logistics properties.
Average length of commercial real estate single tenant net leases in the United States in 1st quarter 2023, by property type (in years)
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Avison Young. (May 5, 2023). Average length of commercial real estate single tenant net leases in the United States in 1st quarter 2023, by property type (in years) [Graph]. In Statista. Retrieved May 09, 2024, from https://www.statista.com/statistics/1393957/commercial-property-rental-average-lease-length/
Avison Young. "Average length of commercial real estate single tenant net leases in the United States in 1st quarter 2023, by property type (in years)." Chart. May 5, 2023. Statista. Accessed May 09, 2024. https://www.statista.com/statistics/1393957/commercial-property-rental-average-lease-length/
Avison Young. (2023). Average length of commercial real estate single tenant net leases in the United States in 1st quarter 2023, by property type (in years). Statista. Statista Inc.. Accessed: May 09, 2024. https://www.statista.com/statistics/1393957/commercial-property-rental-average-lease-length/
Avison Young. "Average Length of Commercial Real Estate Single Tenant Net Leases in The United States in 1st Quarter 2023, by Property Type (in Years)." Statista, Statista Inc., 5 May 2023, https://www.statista.com/statistics/1393957/commercial-property-rental-average-lease-length/
Avison Young, Average length of commercial real estate single tenant net leases in the United States in 1st quarter 2023, by property type (in years) Statista, https://www.statista.com/statistics/1393957/commercial-property-rental-average-lease-length/ (last visited May 09, 2024)
Average length of commercial real estate single tenant net leases in the United States in 1st quarter 2023, by property type (in years) [Graph], Avison Young, May 5, 2023. [Online]. Available: https://www.statista.com/statistics/1393957/commercial-property-rental-average-lease-length/