Understanding Commercial Lease Financial Terms: Base Rent to Percentage Rent
A complete reference for commercial lease financial terms. Covers base rent, escalations, NNN vs gross, TI allowances, and percentage rent with examples.
Lextract extracted 126 fields from a 48,000 RSF Oklahoma marijuana grow facility lease: cultivation use clause, dedicated power metering, OMMA licensing provisions.
By Angel Campa, Founder · Updated March 2026
Location
Broken Arrow, OK
Size
48,000 RSF
Annual Rent
$480K/yr
Term
60 months
Tenant
Broken Arrow Herbals
Landlord
Oklahoma Agricultural Properties
Large-scale marijuana cultivation facilities occupy industrial buildings but require specialized infrastructure (grow lighting, HVAC, water systems) that creates unusual TI provisions and utility cost structures. Oklahoma's medical marijuana program creates state-specific licensing provisions that differ from Colorado and California cannabis leases.
Lextract extracted the cultivation facility use clause, the specialized utility addendum (tenant pays 100% of power costs via separate meter), the Oklahoma state licensing provisions, and all NNN terms. The below-market rent ($10/RSF) reflects the rural Oklahoma market vs. urban cannabis markets.
126
Fields Extracted
Under 3 minutes
Extraction Time
| Field | Extracted Value | Why It Matters |
|---|---|---|
| Use Clause | Licensed marijuana cultivation facility | Oklahoma OMMA license required — different from dispensary licensing |
| Annual Base Rent | $480,000 | $10/RSF NNN — rural Oklahoma market vs $30+/RSF in urban markets |
| Utility Addendum | Tenant pays 100% power via dedicated meter | Cultivation facilities have extremely high power consumption |
| TI Allowance | $25/RSF for grow infrastructure | Specialized buildout for lighting and HVAC systems |
| State License Requirement | Oklahoma OMMA Grower License | License number must appear in assignment provisions |
| Assignment | Prohibited without OMMA approval | State regulatory approval adds complexity to any assignment |
Cultivation facilities require power, water, and HVAC infrastructure provisions not found in dispensary leases. They are typically in industrial buildings with dedicated utility meters, specialized TI allowances for grow systems, and state grow licensing requirements that differ from retail licensing.
Oklahoma leases reference the OMMA license number, require notification to the landlord of license renewal or revocation, and typically restrict assignment to other OMMA-licensed growers. Lextract extracts all state-specific licensing provisions as structured fields.
A complete reference for commercial lease financial terms. Covers base rent, escalations, NNN vs gross, TI allowances, and percentage rent with examples.
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