好的NNN物业和residential 一样：
Locaiton: population growing areas; average income plus areas; and business freindly regualtion/policy areas.
Tenant: focus on daily needs business: the largest fast food restaurants chains; and service business which can not be replaced by on-line/website-barber, nail, pet service, dental etc. -Focus on national brand chains, high margin & low skilled labor intensive service business.
Guarantor: lease guarantor is Very Important. If the lease guarantor is by franchiser- be ware and cautious of the private equity company behind it. Make sure it's reputable company. If the lease guarntor is by the chain corporation, it is better choice. For example, if your tenant is Olive Garden, the lease guaranteed by Darden Restaurants is better than some operators who bought franchise of Darden Restaurant.
Leaes term: 15 years are better than 25 or 30 years. Due to the shortage of fast-food drive thru retail buildings; - shortage because of highly regulated commercial land and local goverment policies,building costs increases. It is difficult to have drive-thru window allowed and building permitted. There are more good restaurants looking for sites than the available buildable sites. 15 year lease gives the flexibility to raise rents.
Size: 1500 to 4000 sqft are better if for single tenants- easy to re-tenant. Try to stay away from large buildings- especially pharmacy related -Walgreen, Rite-aide, CVS-
