A Tampa-born chicken brand on large Florida sites, and why the real estate matters as much as the tenant, from a NNN buyer’s broker with 225+ transactions.
A PDQ NNN property is a freestanding fast-casual chicken restaurant, often with a drive-thru, leased on a NNN lease. PDQ is a private company based in Tampa, Florida, co-founded by Outback Steakhouse co-founder Bob Basham and Nick Reader. Its leases are typically corporate. PDQ sites are often generous: a Sarasota PDQ that sold in July 2026 has a building of more than 4,400 square feet on 1.54 acres, and it traded at a 6.6% cap.
PDQ is smaller than it was. It had 62 restaurants in 2023 and has about 40 today, mostly in Florida, after closing stores in the Carolinas, Oklahoma and New York. Because PDQ is private and not publicly rated, the store and the real estate carry most of the weight in a purchase, outright or on a 1031 exchange. Solid Investments FL has represented buyers on PDQ deals near Tampa, and our buyer representation is always free to you.
| Tenant | Usually a corporate PDQ entity; confirm the tenant and any guarantor on each lease |
|---|---|
| Ownership | Private; co-founded by Bob Basham and Nick Reader |
| Headquarters | Tampa, Florida |
| Credit | Private company, not publicly rated |
| Restaurants | About 40: 36 in Florida, 3 in North Carolina and 1 in New Jersey (mid-2026), down from 62 in 2023 |
| Recent closures | Closed eight Carolinas stores in 2024, exited Oklahoma, and left Long Island, New York in 2025 |
| Site size | Often large: one 2026 Sarasota sale was 4,400+ SF on 1.54 acres with a drive-thru |
| Lease type | NNN; check the lease for any landlord responsibilities |
| Recent sale | Sarasota, FL, July 2026: $2.16M at a 6.6% cap |
| Typical cap rate (2026) | About 6.25%–7.25%, depending on the lease term, rent and location |
| Typical price range | About $2M–$4M+ |
Restaurant counts and sale data from news reports and PDQ’s website as of 2026. Cap rates and pricing reflect current market conditions and vary by deal.
Confirm exactly which PDQ entity is the tenant and whether a parent guarantee backs it.
PDQ is private and not publicly rated, and it does not publish financial statements. Ask what tenant financials the seller can provide.
PDQ has closed stores outside its core, going from 62 restaurants in 2023 to about 40. Favor stores in its Florida home market with proven sales.
Ask for store-level sales if available. Rent at 6%–8% of sales is healthy, below 6% is very strong, and around 10% is close to break-even.
Compare the rent per square foot to nearby restaurant leases. Rent at or below market makes the site easier to re-lease if the tenant ever leaves.
PDQ sites are often on larger lots with drive-thrus. A big, well-located parcel is valuable to many other restaurant and retail users, which is your long-term protection.
We’ve represented buyers on corporate PDQ deals in Riverview (Tampa), Florida:
Fast Food / QSR
Solid Investments FL is a NNN buyer's brokerage based in Lakewood Ranch (Sarasota), FL, with 225+ NNN transactions, including corporate PDQ deals near Tampa. We help investors and 1031 exchange buyers find, underwrite and close PDQ and other restaurant properties, and our buyer representation is free.
As of 2026, PDQ NNN properties generally trade around 6.25% to 7.25% cap rates. For example, a Sarasota PDQ sold in July 2026 for about $2.16 million at a 6.6% cap.
PDQ is a private company based in Tampa, Florida. It was co-founded by Bob Basham, a co-founder of Outback Steakhouse, and Nick Reader.
PDQ is a private company and is not publicly rated. Buyers judge the credit from the tenant entity, any guarantee, store sales and the strength of the real estate.
PDQ has closed stores outside its core markets, including eight stores in the Carolinas in 2024, its Oklahoma stores, and its Long Island, New York stores in 2025. It had 62 restaurants in 2023 and about 40 in 2026, mostly in Florida.
PDQ properties are typically leased on corporate NNN leases. Terms vary by deal, so check the remaining term, rent increases and any landlord responsibilities in the lease.
Confirm the tenant entity and any guarantee, ask for store sales if available (rent at 6% to 8% of sales is healthy, below 6% is very strong, and around 10% is close to break-even), compare rent per square foot to the local market, and look closely at the land, since PDQ sites are often large parcels with strong re-use value.
General information only, not investment, tax or legal advice. Credit ratings and market data change; verify current figures before investing.
We know the Tampa Bay market and how to weigh a private tenant against the real estate. Tell us your budget and timeline; our buyer representation is completely free.
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