Neutral leverage
An investment situation in which the cost of borrowed funds is exactly equal to the yield provided by the investment.
Net present value (NPV)
The sum of all future cash flows discounted to present value and netted against the initial investment.
Net operating income (NOI)
The potential rental income plus other income, less vacancy, credit losses, and operating expenses.
Neighborhood center
This center is designed to provide convenience shopping for the day-to-day needs of consumers in the immediate neighborhood. According to ICSC’s SCORE publication, a supermarket anchors half of these centers, while about a third have a drug...
Negative leverage
Borrowed funds are invested at a rate of return lower than the cost of funds to the borrower.
Multiple-use office space
Office space that can be used for a variety of purposes; sometimes referred to as generic office space.