<?xml version="1.0"?>
<edgarSubmission>

    <schemaVersion>X0708</schemaVersion>

    <submissionType>D/A</submissionType>

    <testOrLive>LIVE</testOrLive>

    <primaryIssuer>
        <cik>0001927621</cik>
        <entityName>AEI Net Lease Portfolio 20 DST</entityName>
        <issuerAddress>
            <street1>30 E 7TH STREET</street1>
            <street2>SUITE 1300</street2>
            <city>ST. PAUL</city>
            <stateOrCountry>MN</stateOrCountry>
            <stateOrCountryDescription>MINNESOTA</stateOrCountryDescription>
            <zipCode>55101</zipCode>
        </issuerAddress>
        <issuerPhoneNumber>651-227-7333</issuerPhoneNumber>
        <jurisdictionOfInc>DELAWARE</jurisdictionOfInc>
        <issuerPreviousNameList>
            <value>None</value>
        </issuerPreviousNameList>
        <edgarPreviousNameList>
            <value>None</value>
        </edgarPreviousNameList>
        <entityType>Other</entityType>
        <entityTypeOtherDesc>Statutory Trust</entityTypeOtherDesc>
        <yearOfInc>
            <withinFiveYears>true</withinFiveYears>
            <value>2022</value>
        </yearOfInc>
    </primaryIssuer>

    <relatedPersonsList>
        <relatedPersonInfo>
            <relatedPersonName>
                <firstName>Marni</firstName>
                <middleName>J</middleName>
                <lastName>Nygard</lastName>
            </relatedPersonName>
            <relatedPersonAddress>
                <street1>30 E 7th Street</street1>
                <street2>Suite 1300</street2>
                <city>St. Paul</city>
                <stateOrCountry>MN</stateOrCountry>
                <stateOrCountryDescription>MINNESOTA</stateOrCountryDescription>
                <zipCode>55101</zipCode>
            </relatedPersonAddress>
            <relatedPersonRelationshipList>
                <relationship>Executive Officer</relationship>
                <relationship>Director</relationship>
            </relatedPersonRelationshipList>
            <relationshipClarification>President of the Issuer's Manager</relationshipClarification>
        </relatedPersonInfo>
        <relatedPersonInfo>
            <relatedPersonName>
                <firstName>Advisors, Inc.</firstName>
                <lastName>AEI Trust</lastName>
            </relatedPersonName>
            <relatedPersonAddress>
                <street1>30 E 7th Street</street1>
                <street2>Suite 1300</street2>
                <city>St. Paul</city>
                <stateOrCountry>MN</stateOrCountry>
                <stateOrCountryDescription>MINNESOTA</stateOrCountryDescription>
                <zipCode>55101</zipCode>
            </relatedPersonAddress>
            <relatedPersonRelationshipList>
                <relationship>Promoter</relationship>
            </relatedPersonRelationshipList>
            <relationshipClarification></relationshipClarification>
        </relatedPersonInfo>
        <relatedPersonInfo>
            <relatedPersonName>
                <firstName>Manager, LLC</firstName>
                <lastName>AEI Trust</lastName>
            </relatedPersonName>
            <relatedPersonAddress>
                <street1>30 E 7th Street</street1>
                <street2>Suite 1300</street2>
                <city>St. Paul</city>
                <stateOrCountry>MN</stateOrCountry>
                <stateOrCountryDescription>MINNESOTA</stateOrCountryDescription>
                <zipCode>55101</zipCode>
            </relatedPersonAddress>
            <relatedPersonRelationshipList>
                <relationship>Promoter</relationship>
            </relatedPersonRelationshipList>
            <relationshipClarification></relationshipClarification>
        </relatedPersonInfo>
        <relatedPersonInfo>
            <relatedPersonName>
                <firstName>20 Depositor, LLC</firstName>
                <lastName>AEI Net Lease Portfolio</lastName>
            </relatedPersonName>
            <relatedPersonAddress>
                <street1>30 E 7th Street</street1>
                <street2>Suite 1300</street2>
                <city>St. Paul</city>
                <stateOrCountry>MN</stateOrCountry>
                <stateOrCountryDescription>MINNESOTA</stateOrCountryDescription>
                <zipCode>55101</zipCode>
            </relatedPersonAddress>
            <relatedPersonRelationshipList>
                <relationship>Promoter</relationship>
            </relatedPersonRelationshipList>
            <relationshipClarification></relationshipClarification>
        </relatedPersonInfo>
        <relatedPersonInfo>
            <relatedPersonName>
                <firstName>Keith</firstName>
                <lastName>Petersen</lastName>
            </relatedPersonName>
            <relatedPersonAddress>
                <street1>30 E 7th Street</street1>
                <street2>Suite 1300</street2>
                <city>St. Paul</city>
                <stateOrCountry>MN</stateOrCountry>
                <stateOrCountryDescription>MINNESOTA</stateOrCountryDescription>
                <zipCode>55101</zipCode>
            </relatedPersonAddress>
            <relatedPersonRelationshipList>
                <relationship>Executive Officer</relationship>
            </relatedPersonRelationshipList>
            <relationshipClarification>Chief Financial Office of the Issuer's Manager</relationshipClarification>
        </relatedPersonInfo>
        <relatedPersonInfo>
            <relatedPersonName>
                <firstName>Kevin</firstName>
                <lastName>Steele</lastName>
            </relatedPersonName>
            <relatedPersonAddress>
                <street1>30 E 7th Street</street1>
                <street2>Suite 1300</street2>
                <city>St. Paul</city>
                <stateOrCountry>MN</stateOrCountry>
                <stateOrCountryDescription>MINNESOTA</stateOrCountryDescription>
                <zipCode>55101</zipCode>
            </relatedPersonAddress>
            <relatedPersonRelationshipList>
                <relationship>Executive Officer</relationship>
            </relatedPersonRelationshipList>
            <relationshipClarification>Chief Operating Officer of the Issuer's Manager</relationshipClarification>
        </relatedPersonInfo>
    </relatedPersonsList>

    <offeringData>
        <industryGroup>
            <industryGroupType>Commercial</industryGroupType>
        </industryGroup>
        <issuerSize>
            <revenueRange>Decline to Disclose</revenueRange>
        </issuerSize>
        <federalExemptionsExclusions>
            <item>06b</item>
        </federalExemptionsExclusions>
        <typeOfFiling>
            <newOrAmendment>
                <isAmendment>true</isAmendment>
                <previousAccessionNumber>0001927621-22-000003</previousAccessionNumber>
            </newOrAmendment>
            <dateOfFirstSale>
                <value>2022-09-21</value>
            </dateOfFirstSale>
        </typeOfFiling>
        <durationOfOffering>
            <moreThanOneYear>false</moreThanOneYear>
        </durationOfOffering>
        <typesOfSecuritiesOffered>
            <isEquityType>true</isEquityType>
        </typesOfSecuritiesOffered>
        <businessCombinationTransaction>
            <isBusinessCombinationTransaction>false</isBusinessCombinationTransaction>
            <clarificationOfResponse></clarificationOfResponse>
        </businessCombinationTransaction>
        <minimumInvestmentAccepted>50000</minimumInvestmentAccepted>
        <salesCompensationList>
            <recipient>
                <recipientName>AEI Securities, Inc.</recipientName>
                <recipientCRDNumber>6158</recipientCRDNumber>
                <associatedBDName>None</associatedBDName>
                <associatedBDCRDNumber>None</associatedBDCRDNumber>
                <recipientAddress>
                    <street1>1300 Wells Fargo Place</street1>
                    <street2>30 East Seventh Street</street2>
                    <city>St. Paul</city>
                    <stateOrCountry>MN</stateOrCountry>
                    <stateOrCountryDescription>MINNESOTA</stateOrCountryDescription>
                    <zipCode>55101</zipCode>
                </recipientAddress>
                <statesOfSolicitationList>
                    <state>AZ</state>
                    <description>ARIZONA</description>
                    <state>CA</state>
                    <description>CALIFORNIA</description>
                    <state>FL</state>
                    <description>FLORIDA</description>
                    <state>IL</state>
                    <description>ILLINOIS</description>
                    <state>IA</state>
                    <description>IOWA</description>
                    <state>MN</state>
                    <description>MINNESOTA</description>
                    <state>TX</state>
                    <description>TEXAS</description>
                    <state>WI</state>
                    <description>WISCONSIN</description>
                </statesOfSolicitationList>
                <foreignSolicitation>false</foreignSolicitation>
            </recipient>
            <recipient>
                <recipientName>Avantax Investment Services, Inc.</recipientName>
                <recipientCRDNumber>13686</recipientCRDNumber>
                <associatedBDName>None</associatedBDName>
                <associatedBDCRDNumber>None</associatedBDCRDNumber>
                <recipientAddress>
                    <street1>3200 Olympus Boulevard</street1>
                    <street2>Suite 100</street2>
                    <city>Dallas</city>
                    <stateOrCountry>TX</stateOrCountry>
                    <stateOrCountryDescription>TEXAS</stateOrCountryDescription>
                    <zipCode>75019</zipCode>
                </recipientAddress>
                <statesOfSolicitationList>
                    <value>All States</value>
                </statesOfSolicitationList>
                <foreignSolicitation>false</foreignSolicitation>
            </recipient>
            <recipient>
                <recipientName>Concorde Investment Services, LLC</recipientName>
                <recipientCRDNumber>151604</recipientCRDNumber>
                <associatedBDName>None</associatedBDName>
                <associatedBDCRDNumber>None</associatedBDCRDNumber>
                <recipientAddress>
                    <street1>19500 Victor Parkway</street1>
                    <street2>Suite 550</street2>
                    <city>Livonia</city>
                    <stateOrCountry>MI</stateOrCountry>
                    <stateOrCountryDescription>MICHIGAN</stateOrCountryDescription>
                    <zipCode>48152</zipCode>
                </recipientAddress>
                <statesOfSolicitationList>
                    <value>All States</value>
                </statesOfSolicitationList>
                <foreignSolicitation>false</foreignSolicitation>
            </recipient>
            <recipient>
                <recipientName>Aurora Securities</recipientName>
                <recipientCRDNumber>46147</recipientCRDNumber>
                <associatedBDName>None</associatedBDName>
                <associatedBDCRDNumber>None</associatedBDCRDNumber>
                <recipientAddress>
                    <street1>2565 West Maple</street1>
                    <city>Troy</city>
                    <stateOrCountry>MI</stateOrCountry>
                    <stateOrCountryDescription>MICHIGAN</stateOrCountryDescription>
                    <zipCode>48084</zipCode>
                </recipientAddress>
                <statesOfSolicitationList>
                    <state>AL</state>
                    <description>ALABAMA</description>
                    <state>AK</state>
                    <description>ALASKA</description>
                    <state>AZ</state>
                    <description>ARIZONA</description>
                    <state>CA</state>
                    <description>CALIFORNIA</description>
                    <state>CO</state>
                    <description>COLORADO</description>
                    <state>CT</state>
                    <description>CONNECTICUT</description>
                    <state>DE</state>
                    <description>DELAWARE</description>
                    <state>DC</state>
                    <description>DISTRICT OF COLUMBIA</description>
                    <state>FL</state>
                    <description>FLORIDA</description>
                    <state>GA</state>
                    <description>GEORGIA</description>
                    <state>HI</state>
                    <description>HAWAII</description>
                    <state>ID</state>
                    <description>IDAHO</description>
                    <state>IL</state>
                    <description>ILLINOIS</description>
                    <state>IN</state>
                    <description>INDIANA</description>
                    <state>LA</state>
                    <description>LOUISIANA</description>
                    <state>MD</state>
                    <description>MARYLAND</description>
                    <state>MI</state>
                    <description>MICHIGAN</description>
                    <state>MN</state>
                    <description>MINNESOTA</description>
                    <state>MO</state>
                    <description>MISSOURI</description>
                    <state>MT</state>
                    <description>MONTANA</description>
                    <state>NE</state>
                    <description>NEBRASKA</description>
                    <state>NV</state>
                    <description>NEVADA</description>
                    <state>NJ</state>
                    <description>NEW JERSEY</description>
                    <state>NY</state>
                    <description>NEW YORK</description>
                    <state>NC</state>
                    <description>NORTH CAROLINA</description>
                    <state>OH</state>
                    <description>OHIO</description>
                    <state>OK</state>
                    <description>OKLAHOMA</description>
                    <state>OR</state>
                    <description>OREGON</description>
                    <state>PA</state>
                    <description>PENNSYLVANIA</description>
                    <state>PR</state>
                    <description>PUERTO RICO</description>
                    <state>SC</state>
                    <description>SOUTH CAROLINA</description>
                    <state>TN</state>
                    <description>TENNESSEE</description>
                    <state>TX</state>
                    <description>TEXAS</description>
                    <state>VA</state>
                    <description>VIRGINIA</description>
                    <state>WA</state>
                    <description>WASHINGTON</description>
                    <state>WV</state>
                    <description>WEST VIRGINIA</description>
                    <state>WI</state>
                    <description>WISCONSIN</description>
                </statesOfSolicitationList>
                <foreignSolicitation>false</foreignSolicitation>
            </recipient>
            <recipient>
                <recipientName>Berthel, Fisher &amp; Company Financial Services, Inc.</recipientName>
                <recipientCRDNumber>13609</recipientCRDNumber>
                <associatedBDName>None</associatedBDName>
                <associatedBDCRDNumber>None</associatedBDCRDNumber>
                <recipientAddress>
                    <street1>4201 42nd Street Northeast</street1>
                    <street2>Suite 100</street2>
                    <city>Cedar Rapids</city>
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                    <stateOrCountryDescription>IOWA</stateOrCountryDescription>
                    <zipCode>52402</zipCode>
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                </statesOfSolicitationList>
                <foreignSolicitation>false</foreignSolicitation>
            </recipient>
            <recipient>
                <recipientName>Lincoln Financial Advisors Corp</recipientName>
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                <associatedBDCRDNumber>None</associatedBDCRDNumber>
                <recipientAddress>
                    <street1>1301 South Harrison Street</street1>
                    <city>Fort Wayne</city>
                    <stateOrCountry>IN</stateOrCountry>
                    <stateOrCountryDescription>INDIANA</stateOrCountryDescription>
                    <zipCode>46802</zipCode>
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                </statesOfSolicitationList>
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            <recipient>
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                <associatedBDCRDNumber>None</associatedBDCRDNumber>
                <recipientAddress>
                    <street1>44 East Broad Street</street1>
                    <street2>2nd Floor</street2>
                    <city>Bethlehem</city>
                    <stateOrCountry>PA</stateOrCountry>
                    <stateOrCountryDescription>PENNSYLVANIA</stateOrCountryDescription>
                    <zipCode>18018</zipCode>
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                <foreignSolicitation>false</foreignSolicitation>
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            <recipient>
                <recipientName>Metropolitan Capital Investment Banc, Inc.</recipientName>
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                <associatedBDCRDNumber>None</associatedBDCRDNumber>
                <recipientAddress>
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                    <city>Chicago</city>
                    <stateOrCountry>IL</stateOrCountry>
                    <stateOrCountryDescription>ILLINOIS</stateOrCountryDescription>
                    <zipCode>60611</zipCode>
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                </statesOfSolicitationList>
                <foreignSolicitation>false</foreignSolicitation>
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            <recipient>
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                <associatedBDCRDNumber>None</associatedBDCRDNumber>
                <recipientAddress>
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                    <street2>Suite 1410</street2>
                    <city>Jersey City</city>
                    <stateOrCountry>NJ</stateOrCountry>
                    <stateOrCountryDescription>NEW JERSEY</stateOrCountryDescription>
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                </statesOfSolicitationList>
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            <recipient>
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                <associatedBDCRDNumber>None</associatedBDCRDNumber>
                <recipientAddress>
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                    <street2>Suite 1000</street2>
                    <city>Atlanta</city>
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                    <stateOrCountryDescription>GEORGIA</stateOrCountryDescription>
                    <zipCode>30305</zipCode>
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                </statesOfSolicitationList>
                <foreignSolicitation>false</foreignSolicitation>
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            <recipient>
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                <associatedBDCRDNumber>None</associatedBDCRDNumber>
                <recipientAddress>
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                    <street2>Suite 3300</street2>
                    <city>Minneapolis</city>
                    <stateOrCountry>MN</stateOrCountry>
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                <foreignSolicitation>false</foreignSolicitation>
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            <recipient>
                <recipientName>Whitehall-Parker Securities, Inc</recipientName>
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                <associatedBDCRDNumber>None</associatedBDCRDNumber>
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                    <street2>Suite B</street2>
                    <city>San Rafel</city>
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                    <stateOrCountryDescription>CALIFORNIA</stateOrCountryDescription>
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                    <description>ARIZONA</description>
                    <state>CA</state>
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                    <description>NEW YORK</description>
                    <state>OR</state>
                    <description>OREGON</description>
                    <state>SC</state>
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                    <description>UTAH</description>
                    <state>WA</state>
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                <foreignSolicitation>false</foreignSolicitation>
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            <recipient>
                <recipientName>Harbour Investments, Inc</recipientName>
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                    <city>Madison</city>
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                <foreignSolicitation>false</foreignSolicitation>
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        </salesCompensationList>
        <offeringSalesAmounts>
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            <totalAmountSold>19934077</totalAmountSold>
            <totalRemaining>12535923</totalRemaining>
            <clarificationOfResponse></clarificationOfResponse>
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        <investors>
            <hasNonAccreditedInvestors>false</hasNonAccreditedInvestors>
            <totalNumberAlreadyInvested>32</totalNumberAlreadyInvested>
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        <salesCommissionsFindersFees>
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                <dollarAmount>1623500</dollarAmount>
                <isEstimate>true</isEstimate>
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            <findersFees>
                <dollarAmount>0</dollarAmount>
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            <clarificationOfResponse></clarificationOfResponse>
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                <dollarAmount>4210000</dollarAmount>
                <isEstimate>true</isEstimate>
            </grossProceedsUsed>
            <clarificationOfResponse>AEI Net Lease Portfolio 20 Depositor, LLC will be responsible for paying certain fees and costs of approximately $2,911,200.</clarificationOfResponse>
        </useOfProceeds>
        <signatureBlock>
            <authorizedRepresentative>false</authorizedRepresentative>
            <signature>
                <issuerName>AEI Net Lease Portfolio 20 DST</issuerName>
                <signatureName>RONA L NEWTSON</signatureName>
                <nameOfSigner>RONA L NEWTSON AUTHORIZED SIGNATORY FOR MARNI J NYGARD</nameOfSigner>
                <signatureTitle>President of the Issuer's Manager</signatureTitle>
                <signatureDate>2022-11-23</signatureDate>
            </signature>
        </signatureBlock>
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</edgarSubmission>
