Offering Memorandum · Net Lease

Free Net Lease Offering Memorandum (OM) Template: PowerPoint, Google Slides & AI

A brokerage-neutral net lease offering memorandum in the same page order as the default OM in IntellCRE, with the pages net lease buyers actually ask for. Placeholders only, no invented data.

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What makes a net lease OM different

A net lease is a bond-like contract on a building. Buyers price the tenant's credit, remaining term, rent bumps and who bears roof and structure, so the document is built around a lease abstract and a tenant overview rather than an operating statement.

That is why this template does not reuse a generic deck. The questions buyers ask first about net lease property are specific, and the document should answer them without being asked:

• Who is the tenant, who guarantees the lease, and what is their credit?
• How many years remain, and what are the rent increases?
• Who is responsible for the roof and structure?
• Are there purchase options, a right of first refusal or termination rights?

The metrics buyers look for

The summary page of this net lease OM is built around six numbers. Show only the ones you can support with a source or a calculation.

• Price
• Cap rate
• Remaining lease term
• Rent bumps
• Tenant / guarantor
• Lease type

The property-data table beside them covers: tenant and guarantor (corporate or franchisee), lease type (nnn / absolute nnn / bondable), lease commencement and expiration, renewal options, landlord responsibilities (roof, structure), building area and land area.

The net lease-specific pages

Lease Summary

Columns: term-by-term lease abstract. State the as-of date and where the figures come from.

Tenant and Credit Overview

Columns: Item, Detail, Source. Cite documents, not memory.

Comparables

Sale comps use these columns: Tenant, Remaining term, Sale price, Cap rate, Price per SF, Lease type, Guarantor. Rent or rate comps use: Property, Tenant, Rent per SF, Term, Escalations, Lease type.

Assumptions to state

Every projection in a net lease OM rests on assumptions a buyer will test. The Assumptions page has rows for: rent schedule, renewal probability, residual value assumption, landlord expense (if any), financing terms, exit cap rate.

Back it up: documents to have ready

A net lease OM is only as credible as the documents behind it. Collect these before you publish figures.

Lease

• Lease, amendments, commencement and rent commencement letters: Contract rent is the asset
• Estoppel and SNDA: Confirms no defaults and no offsets
• Guaranty and franchise agreement, if a franchisee tenant: Corporate and franchisee credit differ
• Right-of-first-refusal, purchase option and kick-out provisions: These affect exit

Credit

• Tenant and guarantor financial statements: Credit sets the cap rate

Physical

• Roof, structure and parking condition reports where the landlord is responsible: Hidden landlord obligations

Environmental

• Phase I environmental report: Gas stations, dry cleaners and similar uses need extra care

Sales

• Unit-level sales reports, if available: Supports renewal likelihood

Common net lease mistakes

• Calling a lease NNN without stating who pays roof and structure
• Showing cap rate without remaining term
• Not distinguishing corporate guaranty from franchisee guaranty
• Omitting rent bumps

Market data

The market page has rows for: tenant credit rating or financial summary, store count and unit-level sales (if reported), surrounding traffic count, population within 3 and 5 miles, comparable net lease cap rates, competing locations. Put the source and the date next to each one.

Use it with AI: Claude, ChatGPT, Gemini

Paste your deal facts and get a draft net lease OM in this structure. The prompt uses only the facts you give it and marks gaps as [TBD].

You are a commercial real estate marketing analyst helping a broker draft a Net Lease Offering Memorandum (Net Lease OM).

Draft the Net Lease OM in the structure below. Use ONLY the facts I give you. Where a fact is missing, write [TBD: what is needed] instead of guessing.

STRUCTURE
1. Intro
   - Cover Page: [Property name]; [Address]
   - Presented By: [Brokerage]; [counsel-approved disclaimer]
2. Executive Summary
   - Price estimate: [$]
   - Price: [ ]
   - Cap rate: [ ]
   - Remaining lease term: [ ]
   - Rent bumps: [ ]
   - Tenant / guarantor: [ ]
   - Lease type: [ ]
   - Tenant and guarantor (corporate or franchisee): [ ]
   - Lease type (NNN / absolute NNN / bondable): [ ]
   - Lease commencement and expiration: [ ]
   - Renewal options: [ ]
   - Landlord responsibilities (roof, structure): [ ]
   - Building area and land area: [ ]
3. The Asset
   - Property Overview: [Description]
   - Photos and Area: [Captions; area description]
   - Points of Interest: [List with distances]
4. Lease Summary
   - Term: [ ]
   - Detail: [ ]
5. Tenant and Credit Overview
   - Item: [ ]
   - Detail: [ ]
   - Source: [ ]
6. Financials
   - Income and Expenses / Development Budget: [Current and proforma; source and period]
   - Assumptions: Rent schedule, Renewal probability, Residual value assumption, Landlord expense (if any), Financing terms, Exit cap rate
7. Sale Comparables
   - Sale Comps Summary: Tenant, Remaining term, Sale price, Cap rate, Price per SF, Lease type, Guarantor
8. Rent Comparables
   - Rent Comps Summary: Property, Tenant, Rent per SF, Term, Escalations, Lease type
9. Market Overview
   - Tenant credit rating or financial summary: [Value; source and date]
   - Store count and unit-level sales (if reported): [Value; source and date]
   - Surrounding traffic count: [Value; source and date]
   - Population within 3 and 5 miles: [Value; source and date]
   - Comparable net lease cap rates: [Value; source and date]
   - Competing locations: [Value; source and date]
10. Advisory Bios and Contact Us
   - Advisors: [Name, title, license, contact]

RULES
- Use only facts the user supplied. Never invent property data, tenants, statistics, comps or quotes.
- If a fact is missing, write [TBD: what is needed] in its place.
- Every market statistic needs its source and date as given by the user; otherwise mark it [TBD: source and date].
- Show arithmetic for any figure you derive and flag it as calculated.
- Write in plain, factual US English. Avoid unsupported superlatives.
- Avoid this net lease mistake: calling a lease nnn without stating who pays roof and structure.
- Avoid this net lease mistake: showing cap rate without remaining term.
- Avoid this net lease mistake: not distinguishing corporate guaranty from franchisee guaranty.
- Avoid this net lease mistake: omitting rent bumps.
- Leave confidentiality and disclaimer text as [Insert the brokerage's counsel-approved language]; do not write legal text.

BEFORE YOU DRAFT
If essential facts are missing, ask me up to 8 short questions first, then draft once I answer.
If I say "just draft it", draft now and list every [TBD] at the end.

OUTPUT
Return the Net Lease OM as clean Markdown, one heading per section above, followed by a checklist of every [TBD] item and every number I should double-check against source documents.

MY DEAL FACTS
[Paste property details, financials, rent roll, comps, market notes and anything else here.]

Fill it from a real deal

With the IntellCRE MCP connector, your assistant can pull the property, its unit mix and rents, and its selected comps from IntellCRE before it drafts. Or let IntellCRE build the document from your deal files: try IntellCRE, free to start.

Frequently asked questions

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