Lease terms, cap rates, credit and due diligence for the tenants NNN investors buy most — written by a buyer’s broker with 225+ transactions.
In a single-tenant NNN investment, the tenant is the investment. Their credit, lease structure and store performance drive your income, your risk and your exit value. These profiles cover what each tenant’s leases typically look like, how they are priced, and what to check before you buy.
Solid Investments FL is a Florida NNN buyer’s brokerage headquartered in Lakewood Ranch (Sarasota), serving investors across Florida and nationwide, with 21+ years, 225+ transactions and over $1 billion in career volume. Our buyer representation is always free to you.
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Typical 2026 cap rates, price ranges and lease terms for the NNN tenants on this page, sorted from lowest to highest cap rate. Lower cap rates generally reflect stronger credit, longer leases and ground-lease structures. Click any tenant for the full profile.
| Tenant | Typical Cap Rate | Typical Price | New Lease Term | Credit | Typical Guarantor | Common Lease Structure |
|---|---|---|---|---|---|---|
| McDonald's | 3.5%–4.0% | $2M–$4M+ | 20 yrs | S&P BBB+ | Corporate | Ground lease |
| Chick-fil-A | 3.75%–4.5% | $2M–$7M+ | 15 yrs | Not rated | Corporate | Ground lease |
| AutoZone | 4.5%–5.5% | $1M–$4M | 15–20 yrs | S&P BBB | Corporate | Mostly ground lease |
| Bank of America | 4.5%–5.5% | $1.5M–$5M | 20 yrs | S&P A+ | Corporate | Mostly ground lease |
| Burger King | 4.5%–5.5%+ | $1M–$3.5M | 20 yrs | S&P BB+ (RBI) | Corporate or franchisee | Both |
| Chase Bank | 4.5%–5.25% | $1.5M–$6M | 20 yrs | S&P AA- | Corporate | Ground lease |
| Chipotle | 4.5%–5.5% | $2.5M–$5M | 15 yrs | Not rated | Corporate | Mostly fee simple |
| Publix | 4.5%–5.5% | $7M–$20M | 20 yrs | Not rated | Corporate | Varies |
| TD Bank | 4.5%–5.25% | $3M–$9M | 20 yrs | S&P A+ | Corporate | Ground lease |
| Taco Bell | 4.5%–5.5% | $1.5M–$4.5M+ | 20 yrs | S&P BB+ (Yum) | Mostly franchisee | Both |
| Walmart Neighborhood Market | 4.5%–5.5% | $5M–$12M | 20 yrs | S&P AA | Corporate | Ground lease |
| Wawa | 4.5%–5.15% | $3M–$10M+ | 20 yrs | Fitch BBB | Corporate | Ground lease |
| Wendy's | 4.5%–5.0%+ | $1.5M–$3.5M | 20 yrs | S&P B+ | Mostly franchisee | Both |
| 7-Eleven | 4.75%–5.5% | $1M–$7M+ | 15 yrs | S&P A- | Corporate | Fee simple or ground lease |
| Dutch Bros Coffee | 4.75%–5.75% | $1.5M–$3M | 15 yrs | Not rated | Mostly corporate | Both |
| Huntington Bank | 4.75%–6.5% | $1M–$4.5M | Varies | Fitch A- | Corporate | Mostly ground lease |
| PNC Bank | 4.75%–5.5% | $2M–$5M | 20 yrs | S&P A | Corporate | Ground lease |
| Panera Bread | 4.75%–5.5% | $2M–$5M | 15 yrs | Not rated | Corporate or franchisee | Both |
| Texas Roadhouse | 4.75%–5.5% | $3M–$6M | 15–20 yrs | Not rated | Corporate | Mostly ground lease |
| Whole Foods Market | 4.75%–5.75% | $15M–$40M+ | 15–20 yrs | S&P AA (Amazon) | Corporate | Varies |
| 7 Brew Coffee | 5.0%–6.0% | $1M–$3M | 15 yrs | Not rated | Franchisee | Ground lease |
| Amazon | 5.0%–6.0% | $10M–$75M+ | 10–15 yrs | S&P AA | Corporate | Mostly NN, fee simple |
| Arby's | 5.0%–6.5% | $1M–$3.5M | 20 yrs | Not rated | Corporate or franchisee | Both |
| Chili's | 5.0%–6.0% | $2M–$4M | 15–20 yrs | S&P BB+ | Corporate | Varies |
| Circle K | 5.0%–6.0% | $2M–$5M | 15 yrs | S&P BBB+ (parent) | Corporate | Both |
| Citibank | 5%–6.5% | $2.5M–$8M | Varies | S&P A+ (Citibank, N.A.) | Corporate | Ground or building lease |
| Del Taco | 5%–7% | $1.5M–$3.5M+ | 20 yrs | Not rated | Corporate or franchisee | Both |
| Dunkin' | 5.0%–6.0% | $1M–$3.5M | 15 yrs | Not rated | Mostly franchisee | Both |
| Home Depot | 5.0%–5.5% | $10M–$50M+ | 20 yrs | S&P A | Corporate | Both |
| Jack in the Box | 5.0%–6.0% | $1M–$3.5M | 20 yrs | Below inv. grade | Mostly franchisee | Both |
| KFC | 5.0%–6.0% | $1M–$3.5M | 20 yrs | S&P BB+ (Yum) | Mostly franchisee | Both |
| KeyBank | 5%–6% | $1.5M–$6M | Varies | Fitch A- | Corporate | Mostly ground lease |
| Lowe's | 5.0%–6.0% | $10M–$50M+ | 20 yrs | S&P BBB+ | Corporate | Both |
| O'Reilly Auto Parts | 5.0%–6.0% | $1M–$3M | 15–20 yrs | S&P BBB | Corporate | Both |
| Starbucks | 5.0%–6.0% | $2M–$5M | 10 yrs | S&P BBB+ | Corporate | Mostly NN, fee simple |
| Tractor Supply | 5.0%–6.5% | $3M–$7M | 15 yrs | S&P BBB | Corporate | Mostly NN, fee simple |
| Firestone Complete Auto Care | 5.25%–6.25% | $1.5M–$3M | 15 yrs | S&P A (parent) | Corporate | Both |
| First Watch | 5.25%–6.0% | $1.5M–$3.5M | 10–15 yrs | Not rated | Corporate | Fee simple |
| Goodyear Auto Service | 5.25%–6.25% | $1.5M–$3M | 15 yrs | S&P B+ | Corporate | Varies |
| Jiffy Lube | 5.25%–6.25% | $1M–$2.5M | 15 yrs | Not rated | Franchisee | Varies |
| Popeyes | 5.25%–6.25% | $1.5M–$3.5M | 20 yrs | S&P BB+ (RBI) | Franchisee | Both |
| Sherwin-Williams | 5.25%–6.25% | $1.2M–$2.5M | 10 yrs | S&P BBB | Corporate | Mostly NN, fee simple |
| Take 5 Oil Change | 5.25%–6.0% | $1.5M–$3M | 15 yrs | Not rated | Corporate or franchisee | Both |
| Family Dollar | 5.5%–7.0% | $1M–$3.5M+ | 10 yrs | Not rated | Corporate | Fee simple |
| IHOP | 5.5%–6.5% | $1.25M–$3.5M | Varies | Not rated | Franchisee or corporate | Both |
| Pizza Hut | 5.5%–7.0% | $1M–$3.5M | Up to 20 yrs | Not rated | Franchisee | Both |
| Pollo Tropical | 5.5%–6.75% | $2M–$4M | 15 yrs | Not rated | Corporate | Both |
| Buffalo Wild Wings | 5.75%–6.75% | $2M–$6M | Varies | Not rated | Corporate or franchisee | NNN |
| PetSmart | 5.75%–7% | $4M–$12M+ | Varies | S&P B+ | Corporate | Often NN, fee simple |
| Advance Auto Parts | 6%–7%+ | $1M–$4.5M | 10–15 yrs | S&P BB+ | Corporate | NN or NNN |
| CVS Pharmacy | 6.0%–7.25% | $1.5M–$7M | 15–25 yrs | S&P BBB | Corporate | Mostly fee simple |
| Checkers & Rally's | 6%–7.5% | $600K–$1.5M | Varies | Not rated | Mostly franchisee | Often ground lease |
| Denny's | 6%–7%+ | $1.5M–$3.5M | 20 yrs | Not rated | Mostly franchisee | Both |
| FedEx | 6.0%–7.0% | $1M–$30M+ | 10–15 yrs | S&P BBB | Corporate | Mostly NN, fee simple |
| Pep Boys | 6%–7.25% | $1.5M–$5M | Varies | Not rated | Corporate | NN or NNN |
| Sonic Drive-In | 6%–6.75% | $1M–$3.5M | Varies | S&P B+ (Inspire) | Mostly franchisee | Both |
| Carl's Jr. | 6.25%–7.5% | $1.5M–$3.5M | Varies | Not rated | Mostly franchisee | Both |
| Hardee's | 6.25%–8% | $1M–$3.5M | Varies | Not rated | Mostly franchisee | Both |
| PDQ | 6.25%–7.25% | $2M–$4M+ | Varies | Not rated | Corporate | Fee simple |
| Applebee's | 6.5%–7.75% | $2M–$4M | Varies | Not rated | Mostly franchisee | Both |
| Dollar General | 6.5%–7.75% | $1M–$2.5M | 15 yrs | S&P BBB | Corporate | Fee simple |
| LA Fitness | 6.5%–7.25% | $10M–$20M | 15–18 yrs | S&P B | Corporate | NNN, fee simple |
| Walgreens | 6.65%–8.5% | $3M–$10M | 10–25 yrs | Not rated | Corporate | Mostly fee simple |
| Red Lobster | 6.75%–8% | $3.5M–$7M | 15 yrs | Not rated | Corporate | Fee simple |
| Golden Corral | 7%–8.25% | $2.5M–$5M | 15–20 yrs | Not rated | Franchisee | Fee simple |
Ranges reflect typical 2026 market pricing for new or long-term leases and vary by deal; shorter remaining terms usually trade higher. Credit ratings are for the tenant or its parent as noted. General information only, not investment advice.
Tell us your budget, target cap rate and 1031 timeline. We’ll show you the tenants and properties that fit — at no cost to you.
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