Net Income

Revenue minus expenses.

Net Lease

A Lease type whereby the Tenant (lessee) agrees to pay its (proportionate) share of all recoverable expenses of the building, such as taxes, insurance, utilities, repairs and maintenance.

Net Operating Income (NOI)

The income from a property or business after deducting operating expenses but before deducting taxes and interest.

Net Present Value (NPV)

A financial appraisal method that measures the surplus and shortfall of cash flows in present value terms of a proposed investment. Simply put, NPV = present value of net cash flows.

Net Yield

The rate of return on an investment after all expenses have been deducted.

Nonrecourse Debt

A type of loan where, if the borrower defaults, the lender may only take the property pledged as collateral but not seek personal judgment against the borrower.