Amazon NNN Properties For Sale: Listings, Cap Rates and 1031 Buyer Guide

This page tracks Amazon net lease properties observed for sale in the United States, refreshed automatically from listing broker materials, checks the tenant against the investment grade threshold, and walks through how to evaluate one before you make an offer. If you want the corporate credit story, the Amazon credit rating and cap rate profile covers it. This page is about the inventory: what is on the market, what it is asking, how the pricing breaks down by term, state and lease type, and how a buyer, especially a 1031 exchange buyer, should work through it.

Amazon NNN Properties For Sale: Latest Listings

Up to twelve of the most recently listed single-tenant Amazon properties with published pricing. Open any listing and register for full property data, including the address, location map and an IG summary with due diligence questions.

Showing the 5 most recently listed of 6 observed listings; listings without a published asking price and cap rate are not shown here.

Search all 6 Amazon properties on the market

Market observations aggregated from listing broker materials; not offerings by Investment Grade Income Property, LP. Asking price, cap rate and NOI as published by the listing party. Information deemed reliable but not guaranteed. Verify all figures before relying on them.

What You Are Actually Buying

Amazon facilities are company-operated. The tenant is typically Amazon.com Services LLC, the operating subsidiary that employs the workforce and runs the network, and leases are often backed by a guaranty from Amazon.com, Inc. That combination removes operator risk and, when the guaranty is present, puts the parent’s balance sheet behind the rent, which is why these assets price near the bottom of the industrial cap rate range. The guaranty is not universal, so confirm it exists rather than assume it. The other underwriting fact is size: most Amazon net lease inventory trades well above the price point of typical single-tenant retail, which narrows the buyer pool on exit.

Amazon net lease inventory is mostly industrial and grocery rather than retail pads: last-mile delivery stations often 100,000 square feet or more with large van parking fields, far larger sortation and fulfillment centers, and Whole Foods Market and Amazon Fresh grocery stores. Initial terms typically run ten to fifteen years, delivery stations often on the shorter end, and escalations are usually fixed annual increases of one and a half to two percent or periodic bumps. Leases are generally NNN, though roof and structure sometimes remain with the landlord on developer-built facilities. Amazon has trimmed and consolidated parts of its network since 2022, so position within the current delivery footprint matters.

Across the current inventory, roughly 40% of listings with a reported build year were delivered in the last four years, and about 17% are marketed as NN, NN+ or simply Net, which usually means the landlord retains roof and structure and sometimes parking and HVAC. Read the lease rather than the brochure headline. If the rating framework behind investment grade tenancy is unfamiliar, the investment grade guide explains it.

Amazon Cap Rate, Price and Term Distribution

These tables are generated from the live inventory and refresh every few hours. Use them to place any individual listing in context rather than judging an asking cap rate in isolation.

How to read the pricing

The spread inside the Amazon inventory runs from 5.12% to 6.50%, against a median of 6.43%. Three variables help explain much of that spread, although these tables describe asking prices and do not isolate any single effect. First, remaining term, shown in the term table above. Second, geography, shown in the state table below. Third, lease structure and real estate quality: longer terms, stronger guarantors, absolute NNN structures and strong access generally ask lower cap rates, while leases with landlord responsibilities (NN) and secondary access generally ask higher ones; ground leases can price on either side, depending on rent and land value. When a listing sits far outside the band its term and state would predict, there is usually a reason in the lease, and it is worth finding before you write the offer rather than after.

Where Amazon NNN Properties Are For Sale

Current inventory spans 5 states. Differences between states in the table below can reflect local buyer demand, growth, taxes and the mix of lease terms in each state’s listings as much as anything about the tenant, and small state samples can shift quickly.

Amazon as a 1031 Exchange Replacement Property

The median asking price in the current Amazon inventory is $14.85M, and about 17% of listings fall in the middle of the market between 1.5 and 3.5 million dollars. Whether that fits an exchange depends on the equity coming out of the relinquished property and on the debt you need to replace.

• Identify from the live list, not a stale one. Listings move. Identify two or three specific properties under the three-property rule and keep a backup that is realistically still available.
• Debt replacement is the trap. If the relinquished property carried a mortgage, you must replace that debt or add cash to fully defer gain. Where lender pricing sits above the asking cap rate, financed acquisitions run negative leverage. Run your own debt numbers before you identify.
• Term should match your hold. If you plan to hold through the next exchange or pass the asset to heirs, prioritize term and options over 25 basis points of cap rate.
• Certainty of closing matters more than price. A clean estoppel, a current lease and no pending relocation are worth paying for on a 45-day clock.

For identification mechanics, timelines and the NNN, DST and UPREIT alternatives, see the 1031 exchange into investment grade property guide.

Amazon NNN Due Diligence Checklist

These are the items that change the value of an Amazon listing and are rarely resolved by the offering memorandum.

• Guaranty entity and scope. Confirm whether Amazon.com, Inc. guarantees the lease or only Amazon.com Services LLC signs. Whole Foods Market leases are usually with a Whole Foods entity and typically carry no parent guaranty, which is a different credit inside the same brand family.
• Termination and contraction rights. Some Amazon leases, particularly newer delivery stations, include early termination or contraction options. Amazon has closed or paused facilities since 2022, so read for any right to exit before expiration and the fee that applies.
• Roof, structure and specialized improvements. Developer-built facilities can leave roof and structure with the landlord. Also confirm who owns conveyor, racking and van charging infrastructure at expiration, since removing specialized improvements can become a landlord cost.
• Van parking and site entitlements. Delivery stations depend on large paved fields and around-the-clock truck and van movement. Confirm zoning, traffic approvals and any operating hour restrictions, because these determine whether another logistics user can backfill the site.

How Investment Grade Works With Amazon Buyers

Investment Grade Income Property, LP is a licensed commercial real estate brokerage providing national advisory on acquisitions and dispositions of net lease property, with Broker of Record co-listing partnerships in all 50 states. On an Amazon acquisition we screen the live inventory against your criteria, pull the lease abstract behind any listing you want to pursue, benchmark the asking cap rate against the distribution above, and negotiate on your side of the table through closing. On most transactions there is no separate fee to the buyer because compensation is paid from the transaction by the listing side. Where that is not the case we disclose it in writing before you engage.

Owners of existing Amazon properties can use this page as a valuation benchmark. If you are weighing a sale, an off-market disposition to a qualified 1031 buyer often closes faster and with less retrading than a broad marketing process.

Frequently Asked Questions

• Amazon Credit Rating and NNN Cap Rate Profile
• NNN Cap Rates 2026: Tenant by Tenant Benchmarks
• 1031 Exchange Into Investment Grade Property
• Investment Grade Credit Tenant Ratings
• Search All Observed NNN Listings