NNN can be used in both commercial and residential. NNN is just one kind of lease type. The lease can be gross lease, NN lease, or NNN lease.
It does not matter what kind of the lease type when you invest, either gross lease, or NN lease, or NNN lease. However it matters, what you buy.
NNN当然值得投资。 NNN is often used in commercial. 如果你想买商业地产， 关键要看location/什么样的生意。 NNN is also used in residential lease if the tenants pay rent, property tax and insurance.
In my opinion, to buy good NNN commercial properties, I will only work with the broker who represents the brand name's office, especially the largest broker; not small broker; because the small borker does not have enough resources and strong tenants.
NNN can be used in both commercial and residential. NNN is just one kind of lease type. The lease can be gross lease, NN lease, or NNN lease.
It does not matter what kind of the lease type when you invest, either gross lease, or NN lease, or NNN lease. However it matters, what you buy.
NNN当然值得投资。 NNN is often used in commercial. 如果你想买商业地产， 关键要看location/什么样的生意。 NNN is also used in residential lease if the tenants pay rent, property tax and insurance.
In my opinion, to buy good NNN commercial properties, I will only work with the broker who represents the brand name's office, especially the largest broker; not small broker; because the small borker does not have enough resources and strong tenants.
我记得群里有个叫Amy的群友， 她讲的商业地产投资有价值。多读读她的贴吧。
https://bbs.wenxuecity.com/inv-invest/1745411.html
增值非常有限，风险又大，长期回报率不如住宅。商业地产里长期回报最好的是公寓楼和 self storage，这两种地产都不是 NNN, 为什么它们的回报率最高呢？因为租金不受租约限制，不怕空置。NNN 要实现高回报率，只能买空置的很便宜的地产，然后租出去，但是这种操作难度大，银行还不给贷款，不能利用杠杆，还需要运气，大部分人不知道怎么找商业租客，还有 tenant improvement 费用，一般这种都是众筹集资操作的，不适合个人投资者。如果买现成的 NNN, 就是每月有现金流，升值比较慢，碰上加息，空置这种情况，房子的贬值可以抵消多年的现金流。很多投资人只要租客还在，就没有意识到这些风险，房子不像股票每天的价格变化都看得见，房东看不见市场的价格就眼不见心不烦，房子贬值了也不知道。
现在买债券的话，降息以后债券价格也会涨，一样的道理，而且债券流动性好得多，又不需要6% 的 commission。现在星巴克的房子 cap rate 是5.5%上下，七八年前只有4%，如果你是4% 买的，现在房子已经贬值很多了，如果是贷款买的话，损失更大，只是很多房东不知道而已。
去看看加息以来 REIT 跌了多少？地产再加杠杆跌得更多。最大的NNN 地产的 REIT 股票代号 “O”, 看看十年涨幅多少？有没有涨幅超过住宅？有没有涨幅超过 SPY?
下面是 O (Realty Income) １０年的股价走势：