| Metric | Details |
|---|---|
| Entity / Legal Name | Apple Inc. |
| Stock Ticker | NASDAQ: AAPL |
| S&P / Moody‑s Rating | AA+ / Aaa |
| Rating Outlook | Stable |
| Investment Grade Status | Investment Grade — High Grade / Prime |
| Sector | Retail / Technology |
| Headquarters | Cupertino, California |
| US Location Count | ~270+ Apple Store retail locations |
| Annual Revenue | ~$383 billion (FY 2024) |
| Market Capitalization | ~$3.5 trillion |
| Cap Rate Range | 4.00% – 5.25% (extremely rare) |
| Typical Building Size | 5,000 – 20,000 SF (flagship stores much larger) |
Apple Business Overview & NNN Investment Profile
Apple is the world’s most valuable company by market capitalization (~$3.5 trillion), generating approximately $383 billion in annual revenue from iPhone, Mac, iPad, services, and wearables. Apple operates approximately 270 company-owned Apple Store retail locations in the United States, each designed as a high-traffic brand experience center. Apple carries S&P AA+ and Moody‑s Aaa credit ratings, among the highest of any company on Earth.
For NNN investors, Apple represents the ultimate trophy tenant but with an important caveat: Apple-leased properties almost never trade on the open NNN market. Apple typically negotiates directly with landlords in premier retail locations (malls, flagship urban sites, lifestyle centers) and retains significant control over its real estate. When an Apple-tenanted property does become available, it commands the tightest cap rates in the NNN universe, typically 4.00% to 5.25%. The scarcity of supply combined with the Aaa/AA+ credit creates extraordinary pricing power. An Apple lease is among the most valuable lease obligations in commercial real estate.
Apple’s credit ratings place it alongside Microsoft and Johnson & Johnson as one of only a handful of companies rated Aaa by Moody‑s. S&P rates Apple AA+, one notch below the top AAA mark. The company holds over $60 billion in cash and generates $100+ billion in annual free cash flow. An Apple NNN lease represents the gold standard of credit-tenant commercial real estate.
Cap Rate Analysis
Apple NNN properties trade in the 4.00% to 5.25% cap rate range when available, which is extremely rare. These properties are trophy assets sought by institutional investors, family offices, and sovereign wealth funds. Most Apple real estate is held within REIT portfolios (Simon Property Group, Macerich, Federal Realty) and rarely comes to market.
Yes. Apple carries AA+/Aaa ratings, among the highest credit ratings in the world.
Apple-leased NNN properties rarely trade on the open market. When they do, they attract institutional-level competition and command the tightest cap rates available.
Apple (AA+/Aaa), Microsoft (AAA/Aaa), and Google (AA+/Aa2) represent the highest-rated tenants in any NNN category. All three operate limited retail footprints, making their NNN properties extremely scarce.
The Only Apple NNN Advisor Whose Fee Comes From the Deal, Not From You
In NNN buyer representation, the listing broker typically pays a cooperating commission to the buyer’s broker. On the majority of transactions, this means there is no separate fee to you as the buyer. Where a cooperating commission is not available, our compensation is agreed upon with you in advance so there are never surprises.
Find It — Apple-tenanted properties sourced through our institutional network and off-market relationships. Trophy assets require trophy-level access.
Fund It — AA+/Aaa credit attracts the lowest available financing rates. We have 150+ lender relationships to find best execution.
Exit It — Selling a property leased to Apple? The most sought-after tenant in commercial real estate commands extraordinary buyer demand.
In a 1031 exchange? Tell us your timeline — we move faster.
Related NNN Tenants
Own a Apple Property? Capital Markets Strategies Beyond Selling
Maturing debt and considering refinancing? Our capital markets team maintains 150+ lender relationships underwriting NNN properties across investment-grade and non-investment-grade credit tiers. We structure rate-and-term refinancing, cash-out refis, and bridge-to-perm takeouts.
Evaluating a 1031 exchange or disposition? We represent both sides of Apple NNN transactions — whether you are looking to exit at peak value, exchange into a higher-quality credit tenant, or reposition within the same sector.
Need a current valuation? We maintain live comps on Apple NNN transactions and can produce a Broker Opinion of Value within 48 hours reflecting today’s cap rate market.
Own multiple Apple properties? Considering an off-market sale?
Investment Grade represents owners on confidential disposition of Apple portfolios and individual properties through off-market direct-to-principal distribution to specialty REITs, private equity funds, and family offices. Apple buyer demand runs deep, and portfolio sales consistently produce stronger pricing than sequential individual sales because the institutional buyer pool is structured around portfolio acquisition.
For multi-property owners considering a portfolio disposition, see Selling Investment Grade NNN Off-Market: Tenant-by-Tenant Buyer Demand. For the full off-market framework covering individual property dispositions, sale-leasebacks, and 1031 coordination, see Off-Market CRE Sales: The Complete 2026 Guide.
The pre-listing conversation is at no cost and fully confidential. Email team@investmentgrade.com or see contact Investment Grade.
