Question 1

What is a triple-net lease?

Accepted Answer

A triple-net lease is one that requires the tenant to pay 
a.rent.
b.real estate taxes.
c.leasehold improvements/repairs.

Question 2

Explain a zoning law.

Accepted Answer

A zoning law is a law established by the local governing body that per- mits or restricts certain types of businesses from operating in specific locations.Some examples of zones are residential, industrial, commer- cial, retail, or any combination of these.

Question 3

Define "right of first refusal."

Accepted Answer

Right of first refusal is a negotiated contract term that protects a les- see from having his rented property sold to a third party without the lessee having the first option to purchase the property.A sale to a third party could put a lessee out of business.The lessee, under the terms of right of first refusal, has the first right to purchase the property.If the lessee refuses to make the purchase, the property can be placed on the open market for sale.

Question 4

What is meant by the term "turnkey" operation?

Accepted Answer

The answer of What is meant by the term "turnkey"...

Question 5

List five factors that should be considered when evaluating a site.

Accepted Answer

The answer of List five factors that should be considered...

Question 6

What are some of the resources to find future development plans for a given geographic area?

Accepted Answer

The answer of What are some of the resources to...

Question 7

Define demographic data.

Accepted Answer

The answer of Define demographic data....

Quiz 3: Site Selection