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What is one tenant’s triple-net share?

Enter the property’s yearly taxes, insurance, and CAM, and this tenant’s square footage. You’ll see their share of each cost, the monthly estimate, the cost per square foot, and what they owe or are owed against the estimates they paid.

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One tenant's triple-net share

Split taxes, insurance and CAM for one tenant

Three short steps. The result updates as you type.

You're looking at a worked example. Replace any number with your own.

Step 1: The property's yearly costs

Whole-property totals for the year. Leave a line blank if this lease doesn't pass it through.

The year's real estate tax bill for the whole property.

The annual premium on the property policy, from your insurance renewal.

Recoverable common-area costs from your operating statement. Leave out anything the lease excludes.

The total area the lease divides by, usually stated in its pro-rata share definition.

Step 2: This tenant's lease

The rentable area of their space, from the premises section of the lease.

Use 12 for a full year. For a tenant who moved in on July 1, enter 6.

Step 3: What they've already paid

The total of the monthly tax, insurance and CAM estimates they paid, for example 12 × $800 = $9,600.

Tenant owes you

$400

Their share of taxes, insurance and CAM is $10,000 (6.67% of the property). They paid $9,600 in estimates, so you bill them the difference.

Pro-rata share6.67%3,000 of 45,000 sq ft
NNN share for the year$10,000Taxes + insurance + CAM
Monthly estimate$833Share ÷ 12 months
Cost per sq ft$3.33Per year

An estimate for one tenant: a straight share by square footage, prorated by month. It skips caps, base years, exclusions, gross-ups and admin fees. The lease controls.

How we got this number
  1. Pro-rata share3,000 sq ft ÷ 45,000 sq ft6.67%
  2. Part of the yearA full year, so no proration100%
  3. Property taxes share$60,000 × 6.67%$4,000
  4. Insurance share$18,000 × 6.67%$1,200
  5. CAM share$72,000 × 6.67%$4,800
  6. NNN share for the year$4,000 + $1,200 + $4,800$10,000
  7. Monthly estimateEach line ÷ 12 months: $333 + $100 + $400$833
  8. Cost per sq ft$10,000 ÷ 3,000 sq ft$3.33
  9. Less estimates already paidTheir monthly NNN payments, added up− $9,600
  10. Tenant owes you$10,000 − $9,600$400

Free template

Get the CAM reconciliation worksheet

The spreadsheet version: recoverable pool, each tenant's share, caps, proration, admin fee and the true-up balance. Comes with the reconciliation and audit checklists.

  • CAM reconciliation worksheetSpreadsheet template
  • CAM Reconciliation ChecklistPrintable checklist
  • CAM Audit Checklist for Landlords and TenantsPrintable checklist

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Step by step

How to use the NNN lease calculator

  1. Enter the property's yearly costs

    The tax bill, the insurance premium, and the recoverable CAM total, plus the property's rentable square footage.

  2. Add this tenant's space

    Their square footage from the lease and, if they weren't there all year, the months they occupied.

  3. Compare with what they paid

    Enter the NNN estimates they paid. The result shows the true-up and every step of the math.

What the result means

What this calculator covers, and what it doesn’t.

01 / Included

A straight pro-rata split

Each of the three costs times the tenant's share of the square footage, prorated by months occupied and rounded to whole dollars per line, then compared with the estimates paid.

02 / Not included

Lease-specific rules

Caps on controllable expenses, base years or expense stops, exclusions, gross-ups for vacancy, admin fees, and day-by-day proration.

03 / Best use

Check one tenant quickly

Sanity-check a tenant's year-end statement, set next year's monthly estimates, or show a prospective tenant what NNN will cost them per square foot.

Method

How this is calculated.

Steps

  1. Pro-rata share = tenant square feet ÷ property square feet.
  2. Each of taxes, insurance, and CAM = annual cost × pro-rata share × (months occupied ÷ 12), rounded to whole dollars per line.
  3. Total = the three lines added together; monthly figure = total ÷ months occupied.
  4. Balance = total − NNN estimates already paid, if you enter them.

What it leaves out

  • Caps and base-year stops.
  • Exclusions and gross-ups.
  • Administrative fees.
  • Denominators other than total rentable area.

Method checked October 4, 2026. General information for commercial property owners, not legal, tax, or accounting advice. The signed lease controls.

Good to know

NNN allocation questions, answered.

What does NNN (triple net) mean?

In a triple-net lease the tenant pays base rent plus its share of the three "nets": property taxes, property insurance, and common area maintenance (CAM). The landlord passes those operating costs through to tenants rather than absorbing them in the rent. Leases that pass through only one or two of the three are sometimes called single-net or double-net, so check which costs your lease actually lists.

Read the guide to triple-net leases
How is a tenant's share usually calculated?

Most leases use a pro-rata share: the tenant's rentable square footage divided by the property's total rentable square footage. A 3,000 sq ft space in a 45,000 sq ft center has a 6.67% share. Some leases define the denominator differently, such as leased or occupied area instead of total area, or exclude an anchor that pays its own costs, so use the lease's exact definition before relying on the result.

How does the calculator handle a tenant who moved in mid-year?

Enter the number of months the tenant occupied the space. Each expense is multiplied by the pro-rata share and then by the months occupied divided by 12, so a tenant there for 6 months is allocated half a year's share. It works in whole months; if the lease prorates by the day, adjust the result by hand.

Why is the monthly figure divided by months occupied rather than 12?

If a tenant occupied for six months, its allocation is already prorated to half the annual expense. Dividing that by six shows the realistic monthly estimate the tenant actually experienced, rather than an artificially low twelfth. Each line is rounded to whole dollars separately, so the monthly total can differ by a dollar or two from the annual total divided by the months.

How do I set monthly NNN estimates for next year?

A common approach is to start from this year's actual share, adjust for anything you already know will change, such as a new tax assessment or an insurance renewal quote, and divide by 12. Many leases let the landlord revise estimates once a year, and some require written notice first. Setting estimates close to the real cost keeps the year-end true-up small for both sides.

Are taxes and insurance treated differently from CAM?

Often, yes. Leases that cap yearly increases usually cap only controllable CAM costs such as landscaping, janitorial, and repairs, while taxes and insurance pass through in full because the landlord can't control them. Taxes can also be billed on the tax authority's schedule rather than in monthly estimates. This calculator treats all three costs the same way, so apply any lease-specific rules separately.

See which expenses belong in CAM
What isn't included here?

Caps on controllable expenses, base-year expense stops, excluded cost categories (capital items, leasing costs, management fees beyond an allowed percentage), administrative fees, and vacancy gross-ups. Each of those is lease-specific. The CAM reconciliation calculator handles a year-over-year cap on CAM.

Open the CAM reconciliation calculator
What should I send the tenant with the reconciliation?

Most leases call for an annual statement showing the property's actual costs for each category, the tenant's share percentage, the amount allocated to them, the estimates they paid, and the resulting balance. Keeping the tax bill, insurance invoice, and CAM ledger behind each figure makes it much easier to answer questions. The CSV download from this calculator lays out the same figures for one tenant.

CAM reconciliation: what it is and how to calculate it

General information for commercial property owners, not legal, tax, or accounting advice. The signed lease controls.

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