True NNN leases mean the landlord's only ongoing obligation is to collect rent. The tenant handles roof, structure, parking lot, taxes and insurance. This is the structure most commonly seen on single-tenant retail (Walgreens, Dollar General, Starbucks pads), credit-tenant industrial, and ground leases.
Not every "NNN" listing is actually triple-net. "NNN with landlord roof responsibility" or "NNN with caps on CAM" are common variations that shift some risk back to the landlord. Buyers and brokers screening NNN inventory should always read the actual lease, not the marketing label — especially around roof, structure, and parking lot replacement reserves.
