Base rent is the stated minimum or fixed rent payable for a leased premises before separately specified charges or sales-based rent.
How it works in retail
It may be quoted per month, per year or per unit of floor area. Escalations and payment schedules are set by the lease.
A retail example
A 1,000-square-foot store quoted at $30 per square foot per year has annual base rent of $30,000, before other charges.
What to keep in mind
Compare quotes on the same area and time basis. Base rent may exclude taxes, insurance, maintenance, utilities and other occupancy costs.
Examples are illustrative. Terminology and measurement conventions can vary by business and market.