Length of commercial single-tenant net leases U.S. 2024, by property type

Published by Statista Research Department, Jan 28, 2025

Convenience shops with single tenant net leases in the United States had an average length of 14 years as of the second quarter of 2024. Quick service restaurants were the second property type in the ranking, with an average length of 12.6 years. 

Triple net leases (NNN) are single tenant leases, where in addition to rent and utilities, the tenant is responsible for the additional property expenses, including taxes, insurance, and maintenance. These leases are common for office, retail, industrial, and logistics properties.

Average length of commercial real estate single tenant net leases in the United States in 2nd quarter 2024, by property type (in years)

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Release date

July 2024

Region

United States

Survey time period

Q2 2024

Number of respondents

494 respondents

Special properties

single tenant net leases

Supplementary notes

Other retail includes grocery stores, cellular stores, mattresses, fitness centers, and other store types that do not fit into the listed categories.

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