New - 30 Mins Ago
$105,000
Active
1
Beds
1
Baths
510
Sqft
--
Acres
2207 S Ocean Blvd #617, MYRTLE BEACH, SC 29577
MLS#: 2626706
Last updated: November 2026
A triple net lease, or NNN lease, means you pay base rent plus your share of the property's three main operating costs: property taxes, building insurance and maintenance. Your monthly cost is base rent plus these pass-throughs, and the pass-throughs can change each year, so budget for the total, not the rent alone.
Triple net leases are common for retail, restaurants and freestanding buildings, and they confuse a lot of first-time tenants. Here's how they work and what to check before you sign one on the Grand Strand.
This guide is part of our guide to buying or leasing commercial property in Myrtle Beach.
In this guide:
- What are the three nets?
- How does a triple net lease affect what you actually pay?
- Why do property taxes matter in a Horry County NNN lease?
- What should you look for in the NNN section of the lease?
- Is a triple net lease bad for tenants?
- How do you budget for a triple net lease?
- Who handles what in a typical triple net lease?
- What about absolute or bondable net leases?
- What else do people ask about this?
- Ready to talk about commercial space on the Grand Strand?
What are the three nets?
The three nets are property taxes, insurance and maintenance. In a triple net lease, the landlord passes these costs to the tenant, usually as a monthly estimate on top of base rent, then reconciles against actual costs after the year ends.
- Taxes: your share of the property tax bill.
- Insurance: your share of the landlord's building insurance. You'll usually carry your own liability and contents policy too.
- Maintenance: often billed as common area maintenance (CAM): landscaping, parking lot, lighting, trash and similar costs.
In a multi-tenant building, your share is usually based on your square footage divided by the building's leasable square footage. Check how the lease defines both numbers.
How does a triple net lease affect what you actually pay?
The rent in the listing is rarely your full monthly cost. A space with a low base rent and high NNN charges can cost more than one with a higher rent and lower charges. Always ask for the current estimated NNN charges and the last year or two of actual costs.
Because taxes, insurance and maintenance change, your total cost can rise even when base rent stays flat. On the coast, insurance costs deserve particular attention. Ask the landlord how the building's insurance has changed and what the lease lets them pass through.
Why do property taxes matter in a Horry County NNN lease?
Commercial property in South Carolina is generally assessed at a higher ratio than an owner-occupied home. That's set by state law, and the county and any city or special district set the millage. If the property is sold or reassessed, the tax bill, and your share of it, can change.
Ask whether the lease caps how much of a tax increase from a sale can be passed through to you. Some tenants negotiate this. You can look up a property's tax history on the Horry County or Georgetown County website.
Talk to Our Team About Commercial Space
What should you look for in the NNN section of the lease?
The definition of operating expenses is where most surprises hide. Read what's included and what's excluded. Watch for:
- Capital repairs, like a new roof or parking lot, billed to tenants instead of spread over their useful life.
- Management or administrative fees added on top of expenses.
- No cap on how much controllable expenses can rise each year.
- No right to audit the landlord's books.
- Vague language on who replaces HVAC units.
Our guide on what CAM charges are and why they go up goes deeper into the maintenance piece.
Is a triple net lease bad for tenants?
Not necessarily. NNN leases are standard in many property types, and base rent is often lower because the landlord isn't absorbing operating cost risk. The key is knowing your total cost and having protections against surprise increases.
If you want more predictability, ask about a gross or modified gross lease. Our guide on NNN vs gross vs modified gross leases compares them.
How do you budget for a triple net lease?
Build your budget on total occupancy cost, then add a cushion. Start with base rent for each year of the term, including scheduled increases. Add the landlord's current NNN estimate, then compare it with the last one or two years of actual costs. If actual costs ran above the estimate, assume you could see a year-end bill.
Then think about what could move. Insurance on coastal buildings and property taxes after a sale are two items to ask about directly. Controllable costs like landscaping and management are easier to cap in the lease.
Finally, plan for the costs that sit outside NNN charges in many leases: your own utilities, janitorial, your HVAC service contract, your own liability and contents insurance, and repairs inside your space.
Talk to Our Team About Commercial Space
Who handles what in a typical triple net lease?
Responsibilities are set by the lease, not by the label. In many multi-tenant NNN leases, the landlord manages the property and bills tenants for shared costs, while each tenant maintains its own space. Roof, structure and parking lot replacement may stay with the landlord or be passed through. HVAC is a common gray area, so ask who repairs and who replaces it.
Write the answers down and compare them with the lease draft before you sign.
What about absolute or bondable net leases?
Some leases go further than standard triple net. In what's often called an absolute net lease, the tenant may be responsible for everything, including the roof and structure, with almost no landlord obligations. These are more common with single-tenant buildings and national tenants.
If a lease puts structural repairs on you, get a thorough inspection first. See do you need an inspection before you lease or buy.
Related guides:
- What's the Difference Between NNN, Gross and Modified Gross Leases in Myrtle Beach?
- What Are CAM Charges in a Commercial Lease, and Why Do They Go Up?
- Should I Lease or Buy My Business Space in Myrtle Beach?
- How Do I Buy or Lease Commercial Property in Myrtle Beach?
What else do people ask about this?
What does NNN stand for?
Triple net. The tenant pays base rent plus a share of property taxes, building insurance and maintenance.
Are NNN charges fixed?
No. They're usually estimated monthly and reconciled once a year against actual costs, so they can go up or down.
Can I negotiate NNN charges?
You usually can't change the taxes, but you can often negotiate caps on controllable expenses, exclusions for capital repairs, and audit rights.
Who pays for the roof in a triple net lease?
It depends on the lease. Many NNN leases keep the roof and structure with the landlord, but some pass them to the tenant. Read the repair section closely.
How do I estimate my total cost?
Add base rent to the landlord's current NNN estimate, then ask for the last one or two years of actual operating costs to check the estimate.
This article is general information, not legal, tax or financial advice. Rules and requirements change. Talk to a South Carolina attorney, CPA or lender about your situation, and confirm current requirements with the agency involved.
Ready to talk about commercial space on the Grand Strand?
Whether you are leasing your first space, buying a building for your business or adding an investment property, a short call with our team can help you sort out the options and the next steps. No pressure, and no commitment.
