What does "$4.00/1.10 NNN" mean?

[Aaron Xie]

Could anyone help explain this simple term to me? Thanks. 

[Mike L.]

It means that the rent is $4.00 per square foot per month, plus an additional $1.10 per square foot per month for triple net (NNN) charges. Triple net charges are property taxes, property insurance, and common area maintenance. The landlord tracks the triple net charges and bills them back to the tenant. $1.10 is an estimate. If, at the end of the year, the actual NNN expenses are different from what the landlord billed the tenant, then they do a reconciliation to either pay back or charge more to the tenant the difference.

So, the tenant has to pay a total of $5.10 per square foot per month total.

Let me know if you still have questions.