The WCA Glossary
Commercial real estate, defined so you can act.
Every term below is defined in one quotable sentence, then explained the way an owner would use it — plain words, sourced from the desk that underwrites the deals.
Terms
The definitions people quote.
Each entry is a definition post with a quotable line and a structured FAQ — built to be cited, and to be right.
Broker Opinion of Value (BOV)
A broker's professional market estimate — the number you can argue with, not an appraisal.
Triple-Net (NNN) Lease
Tenant pays rent plus taxes, insurance, and common-area maintenance — you're buying a rent check and a reversion.
1031 Exchange
A tax-deferred swap: sell one investment property and reinvest the gain into a like-kind replacement within 45/180-day deadlines.
More terms added as the library grows. Everything here is education, not legal, tax, or investment advice.