That means that the only expense you’ll have as a commercial real estate owner is the mortgage expense!
This is an overall concept that says that you, as the property owner, do not have to pay any expenses on the property. The three N’s stand for: Property Insurance, Real Estate Taxes and Common Area Maintenance (CAM). In other words, the lessee handles all property expenses directly. That means that the only expense you’ll have as a commercial real estate owner is the mortgage expense!