Glossary of terms used on this site
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| Term | Definition |
|---|---|
| Negotiable |
The ability to be transferred or assigned to the ownership of another. Flexible on price.
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| Net Lease |
A lease in which there is a provision for the tenant to pay, in addition to rent, certain costs associated with the operation of the property. These costs may include property taxes, insurance, repairs, utilities, and maintenance. There are also “NN” (double net) and “NNN” (triple net) leases. The difference between the three is the degree to which the tenant is responsible for operating costs.
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| Net Operating Income |
Gross income after deducting for operating expense but before deducting for income taxes and interest.
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| Net Present Value |
Net Present Value Is a standard method for using the time value of money to appraise long-term projects. Used for capital budgeting, and widely throughout economics, it measures the excess or shortfall of cash flows, in present value terms, once financing charges are met.
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| Net Profit |
The profit from a business after subtracting all operating expenses from the Net Operating Income.
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| Non-Compete Clause |
A clause that can be inserted into a lease specifying that the business of the tenant is exclusive in the property and that no other tenant operating the same or similar type of business can occupy space in the building.
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| Novation |
An action that substitutes a new party and discharges one of the original parties to a contract, by agreement of all parties.
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