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Real Estate and Classified Ad Abbrevations and Acronyms (Subscribe) Comprehensive guide to common abbreviations and acronyms used in real estate listings and classified ads.

Land Terms

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NNN (NNN lease) new

Triple net lease.
A common abbreviation used in finance, investment, classified advertising, and real estate.

A triple net lease is a lease agreement, usually long-term commercial or industrial, in which the tenant (lessee) agrees to pay all operating and property expenses in addition to periodic rent, including taxes, insurance, maintenance, utilities, and assessments.

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NOI (N.O.I.) new

Net opertaing income.
A common abbreviation used in finance, investment, and real estate. Net operating income is the amount remaining after deducting operating expenses from gross income.
It is used to calculate the cap rate of an income property.

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NP

Non-performing (as in a note or mortgage).

A common abbreviation used in real estate listings.

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o/p

Original price.
A common abbreviation used in real estate listings and classified advertisements.

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O/P

Original price.
A common abbreviation used in real estate listings and classified advertisements.

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OWC

Owner will carry.
A common real estate and finance abbreviation referring to the availability of owner or seller financing. This term is also common in real estate listings and classified advertisements.

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pl

Swimming pool.
A common abbreviation used in real estate listings and classified advertisements.

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R.E.

Real estate.
A common abbreviation used in real estate listings and classified advertisements.

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RE

Real estate.
A common abbreviation used in real estate listings and classified advertisements.

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T.I.

Tenant improvements.
A common abbreviation used in real estate listings and advertising.

Tenant improvements (TI's) are interior structural changes made to a commercial or residential building prior to tenant occupancy. The nature and extent of such changes are varied and depend on the needs and desires of the future tenant. The tenant may take possession of a grey shell, vanilla shell, or completely improved interior space depending on these needs and desires. Responsibility for design of, installation of, and payment for tenant improvements is negotiated at the time of the lease agreement.
The landlord may furnish all or part of the tenant improvements, or may offer a financial incentive in the form of a tenant improvement allowance (TIA), usually on a per square foot basis. Landlord-provided tenant improvements can be either "under-ceiling" or "slab-to-slab".
Examples of tenant improvements may include HVAC systems, plumbing and wiring, partitions and interior walls, flooring, ceiling tiles, lighting, signs, shelves, restroom fixtures, fire protection, and security systems.

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TI

Tenant improvements.
A common abbreviation used in real estate listings and advertising.

Tenant improvements (TI's) are interior structural changes made to a commercial or residential building prior to tenant occupancy. The nature and extent of such changes are varied and depend on the needs and desires of the future tenant. The tenant may take possession of a grey shell, vanilla shell, or completely improved interior space depending on these needs and desires. Responsibility for design of, installation of, and payment for tenant improvements is negotiated at the time of the lease agreement.
The landlord may furnish all or part of the tenant improvements, or may offer a financial incentive in the form of a tenant improvement allowance (TIA), usually on a per square foot basis. Landlord-provided tenant improvements can be either "under-ceiling" or "slab-to-slab".
Examples of tenant improvements may include HVAC systems, plumbing and wiring, partitions and interior walls, flooring, ceiling tiles, lighting, signs, shelves, restroom fixtures, fire protection, and security systems.

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TI's

Tenant improvements.
A common abbreviation used in real estate listings and advertising.

Tenant improvements (TI's) are interior structural changes made to a commercial or residential building prior to tenant occupancy. The nature and extent of such changes are varied and depend on the needs and desires of the future tenant. The tenant may take possession of a grey shell, vanilla shell, or completely improved interior space depending on these needs and desires. Responsibility for design of, installation of, and payment for tenant improvements is negotiated at the time of the lease agreement.
The landlord may furnish all or part of the tenant improvements, or may offer a financial incentive in the form of a tenant improvement allowance (TIA), usually on a per square foot basis. Landlord-provided tenant improvements can be either "under-ceiling" or "slab-to-slab".
Examples of tenant improvements may include HVAC systems, plumbing and wiring, partitions and interior walls, flooring, ceiling tiles, lighting, signs, shelves, restroom fixtures, fire protection, and security systems.

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TIS

Tenant improvements.
A common abbreviation used in real estate listings and advertising.

Tenant improvements (TI's) are interior structural changes made to a commercial or residential building prior to tenant occupancy. The nature and extent of such changes are varied and depend on the needs and desires of the future tenant. The tenant may take possession of a grey shell, vanilla shell, or completely improved interior space depending on these needs and desires. Responsibility for design of, installation of, and payment for tenant improvements is negotiated at the time of the lease agreement.
The landlord may furnish all or part of the tenant improvements, or may offer a financial incentive in the form of a tenant improvement allowance (TIA), usually on a per square foot basis. Landlord-provided tenant improvements can be either "under-ceiling" or "slab-to-slab".
Examples of tenant improvements may include HVAC systems, plumbing and wiring, partitions and interior walls, flooring, ceiling tiles, lighting, signs, shelves, restroom fixtures, fire protection, and security systems.

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V.S.I.

Vanilla shell improvements.
A common abbreviation used in real estate listings and advertisements.

Vanilla shell improvements are improvements made to a commercial or residential building resulting in a a minimally finished interior. VSI's usually include ceilings, lighting, plumbing, heating and cooling (HVAC), interior walls (painted or unpainted), electrical outlets, rest rooms, and a concrete floor. A vanilla shell is considered ready to lease and ready for tenant improvements. Usually, vanilla shell improvements are not completed until the lease agreement between the tenant and landlord has been negotiated and executed.

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VSI

Vanilla shell improvements.
A common abbreviation used in real estate listings and advertisements.

Vanilla shell improvements are improvements made to a commercial or residential building resulting in a a minimally finished interior. VSI's usually include ceilings, lighting, plumbing, heating and cooling (HVAC), interior walls (painted or unpainted), electrical outlets, rest rooms, and a concrete floor. A vanilla shell is considered ready to lease and ready for tenant improvements. Usually, vanilla shell improvements are not completed until the lease agreement between the tenant and landlord has been negotiated and executed.

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VSI's

Vanilla shell improvements.
A common abbreviation used in real estate listings and advertisements.

Vanilla shell improvements are improvements made to a commercial or residential building resulting in a a minimally finished interior. VSI's usually include ceilings, lighting, plumbing, heating and cooling (HVAC), interior walls (painted or unpainted), electrical outlets, rest rooms, and a concrete floor. A vanilla shell is considered ready to lease and ready for tenant improvements. Usually, vanilla shell improvements are not completed until the lease agreement between the tenant and landlord has been negotiated and executed.

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WBS (Wbs, wbs, w.b.s.) updated

Wood-burning stove.
A common abbreviation used in real estate listings and classified advertisements.

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