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Join us as we speak with Chris Sands, found of Sands Investment Group, a commercial real estate broker specializing in retail, convenience stores, office, and other commercial properties.

Helpful Links

https://signnn.com/

https://signnn.com/associates/chris-sands/

Episode Highlights

• A triple net lease (NNN Lease) is one in which the tenant agrees to pay for all expenses, including property taxes, utilities, and common area maintenance. While common for retail properties, Chris said he has seen an increasing trend of these leases across other property types as well. 
  
  
• Each broker at Sands makes 400 to 500 calls per week (about 100 calls per day) to source deals. They also specialize in specific property types such as gas stations or fast food restaurants.
  
  
• Depending on the property and the market, Chris and his team typically sell properties at a cap rate of 4% to 8%.
  
  
• The cap rate is also affected by who is backing the lease. For example, although Chick-fil-a restaurants are sometimes sold to franchisees, the lease is still backed by the corporate Chick-fil-a balance sheet, which results in a lower cap rate (i.e., higher sales price) than would a different franchise restaurant backed by the individual franchisee.