Long-term absolute NNN leases with one of the strongest credits in retail, from a NNN buyer’s broker who helps 1031 investors buy larger, passive assets.
A Home Depot NNN property is a big-box home improvement store, typically about 100,000 square feet or more on 10 or more acres, leased to The Home Depot on a long-term absolute NNN lease, usually around 20 years. Many are ground leases, where you own the land and Home Depot owns the building; others are fee-simple building leases. Some trade as single-tenant properties, typically on absolute NNN leases at lower cap rates, while many are sold as the anchor of a multi-tenant shopping center, typically on NN leases at higher cap rates. Home Depot is the world’s largest home improvement retailer, with more than 2,350 stores and an S&P A / Moody’s A2 credit rating, among the strongest of any retail tenant. With price points of about $10 million to $50 million or more, Home Depot is a natural fit for larger 1031 exchanges seeking safety and zero management.
Solid Investments FL is a NNN buyer’s brokerage with 21+ years in net lease and 225+ transactions. We help buyers find, underwrite and close Home Depot properties nationwide, and our buyer representation is always free to you.
| Tenant | The Home Depot, Inc. (NYSE: HD) or a subsidiary with corporate guarantee; confirm on each lease |
|---|---|
| Headquarters | Atlanta, Georgia |
| Credit rating | S&P A / Moody’s A2 (investment grade) |
| Stores | 2,350+ in the U.S., Canada and Mexico |
| Typical lease term | About 20 years with multiple 5-year options |
| Lease type | Single-tenant deals: typically absolute NNN (ground leases and fee-simple building leases both trade). Anchored shopping centers: typically NN, with landlord roof, structure and common-area responsibilities |
| Rent increases | Varies by lease; often scheduled increases every 5 years or in the option periods |
| Deal types | Single-tenant Home Depot properties, and Home Depot-anchored shopping centers with additional shop and outparcel tenants |
| Typical cap rate (2026) | About 5.0%–5.5% for single-tenant absolute NNN; anchored shopping centers trade at higher cap rates |
| Typical price range | About $10M–$50M+ |
| Typical site | About 100,000+ SF on 10+ acres |
Credit ratings and store counts as of October 2026. Cap rates and pricing reflect current market conditions and vary by deal.
Many Home Depot deals are ground leases: you own the land, Home Depot owns the building, and you have no landlord responsibilities. Fee-simple deals include the building, which you can depreciate. Price and long-term value differ, so know which you’re buying.
Home Depot’s S&P A rating is one of the strongest in retail. That safety is why Home Depot leases attract 1031 buyers who want low-risk, long-term income.
Rent schedules vary widely: some leases have scheduled increases during the base term, others are flat until the options. Read the rent schedule carefully; it drives your return.
Many Home Depot leases were signed decades ago. Check exactly how many years remain and how many options are left; long remaining term commands a premium.
A Home Depot sits on 10 or more acres in major retail corridors. That land and its redevelopment potential are your long-term protection.
Ask about the store’s age and its role in the trade area. A busy, well-located store in a growing market is far more likely to stay for every option.
Solid Investments FL is a NNN buyer's brokerage based in Lakewood Ranch (Sarasota), FL, with 21+ years in net lease and 225+ transactions. We help investors and 1031 exchange buyers find, underwrite and close Home Depot properties nationwide, and our buyer representation is free.
As of 2026, single-tenant absolute NNN Home Depot properties generally trade between about 5.0% and 5.5% cap rates, depending on the remaining lease term, rent increases and whether the deal is a ground lease or fee simple. Home Depot-anchored shopping centers, typically on NN leases, trade at higher cap rates.
As of October 2026, The Home Depot is rated A by S&P and A2 by Moody's, among the strongest credit ratings of any retail tenant.
Many are. In a Home Depot ground lease you own the land and Home Depot owns the building, with no landlord responsibilities. Some Home Depot properties are fee-simple building leases instead. Always confirm the structure before you buy.
Home Depot NNN properties typically sell for about $10 million to $50 million or more, depending on the rent, land size, location and lease terms.
Yes. Some Home Depot properties trade as single-tenant deals, typically on absolute NNN leases at lower cap rates, but many are sold as the anchor of a multi-tenant shopping center, typically on NN leases at higher cap rates. A Home Depot-anchored center adds more income and diversification but also more management, so the underwriting is different from a single-tenant deal.
For many larger exchanges, yes. Home Depot offers top-tier credit, long absolute NNN leases and zero management. Buyers should check the remaining term and rent increase schedule carefully.
General information only, not investment, tax or legal advice. Credit ratings and market data change; verify current figures before investing.
Tell us your budget and timeline. We’ll show you on- and off-market Home Depot options, and our buyer representation is completely free.
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