Common Real Estate Terms

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There are currently 3 names in this directory beginning with the letter N.
Net Absorption
Net Absorption refers to the net square footage leased within a specific geographic area or defined sub-market over a fixed period. It is calculated by offsetting the leased space against the vacated space within the same area during the same period.
Net Operating Income (NOI)
Net Operating Income (NOI) encompasses all revenue generated from a property, excluding operating expenses. This metric does not include capital expenditures and debt service in its computation.
Normal Wear and Tear
Normal Wear and Tear denotes the natural deterioration or loss in value resulting from regular and reasonable use by a tenant. Typically, a tenant is not held responsible for normal wear and tear upon vacating the premises.
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