Full-Service vs. NNN Office Leases in Omaha

Two office suites can quote the same rate per square foot and cost very different amounts to occupy. The difference is usually the lease type. Here is how the three common structures work and how to compare them on equal terms.

Full-Service Gross

A full-service lease bundles everything into one rate. Base rent covers property taxes, building insurance, common-area maintenance, janitorial service, and utilities. You pay one number each month and the landlord handles the rest.

The catch is the base year. Most full-service leases set the building's operating expenses in the first year as the baseline, and if those expenses rise in later years, you pay your share of the increase. Ask what the base-year expenses are and how increases are calculated.

Triple-Net (NNN)

A triple-net lease separates base rent from operating costs. You pay base rent plus your proportional share of the three "nets": property taxes, insurance, and common-area maintenance. Utilities and janitorial for your own suite are usually on you as well.

NNN rates look lower on a listing because they leave the operating expenses out. The landlord should give you a current operating-expense estimate per square foot. Add it to the base rent and you have a number you can compare against a full-service quote. NNN leases are more transparent about where the money goes, and tenants who manage their own utilities carefully can come out ahead.

Modified Gross

Modified gross sits in the middle. The landlord covers some operating costs and the tenant covers others, and the split varies from building to building. Common versions have the landlord paying taxes and insurance while the tenant pays utilities and janitorial. Read the lease carefully, because "modified gross" has no fixed definition.

Comparing Apples to Apples

Put every quote on the same footing before you decide:

1. Build the total occupancy cost. Base rent plus estimated operating expenses plus any utilities or janitorial you will pay directly. Do this per square foot per year, then multiply by rentable square feet.
2. Ask about the load factor. Rentable square feet include a share of common areas. A building with a 12 percent load factor and one with 20 percent are not the same deal at the same rate.
3. Ask what happens to expenses over time. Base-year increases in a full-service lease and pass-through reconciliation in an NNN lease can both move the number.
4. Ask what is capped. Some leases cap annual increases in controllable operating expenses. That is worth negotiating.
5. Factor in concessions. Free rent, a tenant-improvement allowance, or a moving allowance change the effective rate.

What We Do at Millennium Plaza

Our suites at Millennium Plaza on West Dodge Road are quoted NNN, so the base rent and the operating expenses are visible separately and you can see what the building costs to run. Ask for the current operating-expense estimate before you sign. The building's amenities, including heated underground parking, the board room, the training room, and the fitness center, are available to tenants.

The Market Right Now

Vacancy in the West Dodge submarkets has been well above the metro average in 2026, which means tenants have real leverage on rate and concessions. That is worth knowing when you negotiate anywhere on the corridor, including with us.

If you are sizing a space, our guide to how much office space your business needs is the place to start. When you are ready to see a suite, get in touch.

NRS Properties

NRS Properties manages single-family homes and commercial space in the Omaha metro area. Whether you’re looking for a well-maintained rental home or commercial space on West Dodge Road, we’re here to help. Contact us to learn about available properties.