The easiest time to clarify a requirement is before the first tour. Define the use, area, size, total budget, and target opening date. Keep the same comparison sheet through the search so each new property is measured against the business, not just the last tour.
Read the rent quote in full
Base rent is only the starting amount. Under many NNN leases, the tenant also pays an allocated share of property taxes, insurance, and common area costs. A gross quote may include some expenses, but the lease can still allow increases and separate charges. Ask exactly what is included.
CAM means common area maintenance. Ask for the current estimate, prior reconciliations, allocation method, exclusions, and any negotiated caps. Separate a landlord’s estimate from an enforceable cap. Use the calculator to compare quoted costs without mixing annual and monthly rates.
Understand the improvement allowance
A tenant improvement allowance is a contribution governed by the lease. Ask which costs qualify, who approves plans, when money is reimbursed, and what paperwork is required. Set the allowance beside a real construction budget and a cash-flow schedule. Do not assume the landlord funds the work before you pay contractors.
Use the letter of intent to surface disagreements
The LOI is where the parties outline business terms before the full lease. Discuss premises, term, rent, expenses, delivery, improvements, timing, options, and guarantees. Have counsel review which provisions, if any, are binding; the title “letter of intent” does not settle that question.
A practical sequence
- Requirement brief: define use, geography, budget, and timing.
- Shortlist and tours: collect plans and expense information.
- Feasibility: investigate approvals, utilities, construction, and access.
- Business terms: negotiate the LOI and remaining open questions.
- Lease review: have the complete lease and exhibits reviewed.
- Delivery and opening: coordinate possession, permits, construction, utilities, insurance, and the move.
Ask the city about the exact business use and your design team about required work. For accessibility, the Department of Justice’s small-business primer is a useful starting reference.