Retail Net Lease (NNN Retail) tenants face specific billing risks tied to how expenses are allocated and reconciled. The most common error appears in the section below. CAMAudit runs 14 forensic detection rules on your reconciliation statement to identify every recoverable dollar.
Structural repair and replacement costs billed as maintenance, particularly parking lot mill-and-pave (which is a capital replacement, not repair) and roof replacement billed as "patching." Property tax increases driven by a sale of the property at a capitalized value well above assessment (sale-triggered reassessment in some states) can also generate sudden, large pass-through increases.
A specialized variant of the Triple Net lease structure optimized for single-tenant retail properties, often freestanding pad sites or anchor-equivalent standalone buildings leased to investment-grade retailers (pharmacy chains, dollar stores, auto parts retailers, fast food franchises). These leases typically feature long initial terms (10 to 20 years), minimal landlord obligations, and corporate guarantees from the tenant's parent entity.
Identical to standard NNN: tenant pays base rent plus pro-rata share of taxes, insurance, and CAM. In single-tenant retail net leases, the "pro-rata share" is effectively 100% since the tenant occupies the entire building. The tenant bears all operating expenses and, depending on the lease's classification as NNN vs. absolute net, may also bear structural costs.
Because these are single-tenant buildings, there is no pro-rata share calculation, the tenant pays 100% of all expenses. Annual reconciliation compares estimated vs. actual total operating costs. Expenses are typically modest (no shared common areas) and dominated by property taxes, building insurance, and parking lot/exterior maintenance.
Upload two PDFs. 14 detection rules. Under 15 minutes. Free.
Audit parking lot and exterior maintenance invoices for capital replacement masquerading as routine repair. Verify that property tax bills reflect the pre-sale assessed value, not a sale-triggered reassessment that substantially increases the tax base. Confirm roof repair invoices represent genuine partial repair and not a full membrane replacement.
Upload two PDFs. 14 detection rules. Under 15 minutes. Free.
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A CAM audit is only as accurate as your lease data. lextract.io extracts 126 structured fields from any commercial lease PDF: CAM definitions, pro-rata share, caps, base year, and audit rights. So you have the exact terms your landlord is supposed to follow.
Go to lextract.ioThis page provides general educational information. It is not legal advice and may not reflect the most current law in your state. Consult a licensed attorney for advice specific to your situation.
