Looking to buy an Arby's NNN property? 42 are observed for sale across 19 states, median asking cap rate 6.00%. View Arby's NNN properties for sale, cap rate bands and the 1031 buyer guide.
| Metric | Details |
|---|---|
| Entity / Legal Name | Arby’s Restaurant Group, Inc. (subsidiary of Inspire Brands, Inc.) |
| Parent Company | Inspire Brands, Inc. (a Roark Capital Group portfolio company) |
| S&P Rating | no verified rating |
| Investment Grade Status | Not Yet Verified |
| Sector | Restaurant / Quick Service (QSR) |
| Location Count | 3,500+ restaurants in 7 global markets (Inspire Brands fact sheet, fiscal 2025) |
| Inspire Brands Total | 33,000+ restaurants across 6 brands, $33.4B global system sales (fiscal 2025) |
| Median asking cap rate | See the live table below |
| Lease Term | Varies; average remaining term 8.2 years across the 18 Arby’s listings we track that state one |
| Guarantee Type | Varies: corporate or franchisee; confirm the tenant entity and any guarantor in each lease |
| Building Size | Varies; median 3,108 SF in the Arby’s listings we track |
Arby's: no confirmed agency rating. No rating for Arby's has been verified against a primary source (an agency rating action or an issuer filing), so none is shown. If a rating is verified, it will appear here. Ratings checked October 8, 2026. See the investment grade credit tenant ratings table.
Arby’s Business Overview & NNN Investment Profile
Inspire Brands describes Arby’s as the leading sandwich drive-thru chain in the U.S., and Arby’s is the founding brand of Inspire Brands, which reported $33.4 billion in global system sales for fiscal 2025. Arby’s has more than 3,500 restaurants in 7 global markets (Inspire Brands fact sheet, fiscal 2025). Roark Capital-affiliated buyers acquired Arby’s Restaurant Group from Wendy’s/Arby’s Group on July 4, 2011, with Wendy’s keeping an 18.5% interest (Wendy’s Form 8-K, July 8, 2011).
Inspire Brands is backed by Roark Capital Group, a private equity firm whose portfolio also includes CKE Restaurants (Hardee’s / Carl’s Jr.) and GoTo Foods (Cinnabon, Auntie Anne’s). On May 8, 2026, Inspire Brands announced that it had confidentially submitted a draft registration statement on Form S-1 to the SEC for a proposed initial public offering; the number of shares and price range had not been determined, and it expects to use net proceeds to repay term loan debt. Leases on Arby’s restaurants can be signed by a corporate entity or by a franchisee, so confirm the tenant and any guarantor in each lease. Any S&P rating shown on this page is a parent-level rating recorded for Inspire Brands (no verified rating), not a rating of individual Arby’s leases.
S&P rating recorded for the Inspire Brands parent in our ratings database: no verified rating. The investment grade line is BBB‑/Baa3. Inspire operates at large scale: $33.4 billion in global system sales across more than 33,000 restaurants in fiscal 2025 (Inspire Brands fact sheet). Inspire has said it expects to use proceeds from its proposed IPO to repay term loan debt (May 8, 2026); any rating change would come from the agencies. On company-operated Arby’s locations, confirm in the lease whether Arby’s Restaurant Group or another entity is the guarantor; franchisee-guaranteed deals depend on individual operator strength. Other Inspire portfolio brands: Buffalo Wild Wings, Sonic Drive-In, Dunkin’, Jimmy John’s, and Baskin-Robbins.
Cap Rate Analysis & Pricing for Arby’s NNN Properties
Live asking cap rates for Arby’s and comparable tenants:
| Tenant | S&P / Moody’s | Median asking cap rate | Middle half of listings | Listings | Median vs. 10-year Treasury |
|---|---|---|---|---|---|
| Wendy's | B+ / n/a | 5.95% | 5.50% to 6.50% | 83 | +71 bps |
| Arby's (rated entity: IRB Holding Corp. (Inspire Brands)) | n/a / n/a | 6.00% | 5.75% to 6.45% | 40 | +76 bps |
| Burger King (rated entity: Restaurant Brands International Inc.) | BB+ / n/a | 6.25% | 6.00% to 6.75% | 69 | +101 bps |
| Sonic Drive-In (rated entity: IRB Holding Corp. (Inspire Brands)) | B+ / n/a | 6.25% | 6.00% to 6.56% | 36 | +101 bps |
Active listings InvestmentGrade.com tracks with an asking cap rate (stated in the listing, or computed from its stated income and price when no rate is stated), listings last observed October 12, 2026. Asking cap rates are not closed-sale cap rates. The middle half is the range from the 25th to the 75th percentile of listings. The 10-year Treasury yield is 5.24% as of October 1, 2026 (FRED series DGS10). Ratings are the agency ratings in our ratings database for the entity shown, which may be a parent company; the rating type (for example issuer, senior unsecured debt, long-term debt or revenue bond ratings) varies by company and is shown on each tenant page. A rating applies to a lease only if the rated entity signs or guarantees it, so confirm the tenant and any guarantor in the lease. n/a means no verified rating is on file.
Franchisee-guaranteed deals depend on the operator’s strength, so pricing varies by operator.
| Comparable Restaurant NNN Tenant | S&P / Moody’s |
|---|---|
| Burger King (RBI) | BB+ |
| Wendy’s | B+ |
| Sonic (Inspire portfolio) | B+ |
Arby’s status in our ratings database: not yet verified. Any S&P rating shown on this page (no verified rating) is a parent-level rating recorded for Inspire Brands, not a rating of Arby’s leases. Inspire reported $33.4 billion in global system sales for fiscal 2025 and announced a confidential IPO filing on May 8, 2026; any rating change would come from the agencies.
What cap rates are Arby’s NNN properties listed at?
Current median asking cap rates for Arby’s and comparable tenants are shown in the live table on this page. Pricing for a specific property depends on the remaining lease term, rent level, location and lease guarantor, and asking cap rates are not closed-sale cap rates.
Inspire Brands operates six brands. Its 2026 fact sheet (fiscal 2025, global restaurant counts) lists Arby’s (3,500+), Dunkin’ (14,200+), SONIC (3,400+ in 47 states), Buffalo Wild Wings (1,400+), Jimmy John’s (2,800+) and Baskin-Robbins (7,800+).
Could an Inspire Brands IPO affect Arby’s NNN cap rates?
There is no way to know in advance. Inspire said on May 8, 2026 that it expects to use the net proceeds of its proposed IPO to repay term loan debt, and any rating change would come from the agencies. Asking cap rates for a specific Arby’s property also depend on the remaining lease term, rent level, location and the tenant and guarantor named in the lease; the live table shows current median asking cap rates.
Arby’s Net Lease Property: Buying, Selling and Financing
Buying: We find on-market and off-market Arby’s properties, review the lease and the tenant’s credit, and compare pricing with current listings. On the majority of transactions, there is no separate fee to you as the buyer; the listing broker pays a cooperating commission.
Selling: We can prepare an opinion of value from current listings and recent sales and, when it fits your goals, run a confidential sale to private investors, family offices and institutional buyers. See our guide to off-market sales.
Financing: Investment Grade Capital, a service of Investment Grade LLC, matches buyers and owners with lenders for acquisitions and refinancing.
1031 exchanges: Tell us your identification and closing deadlines so we can plan the search around them.
Request an NNN investment consultation or email team@investmentgrade.com.
Related NNN Tenants
Compare Arby’s NNN pricing before your 1031 clock starts
Arby’s buyers should compare the lease guarantee, drive-thru real estate, remaining term, rent coverage, and current restaurant NNN cap-rate market before treating the brand name as the investment thesis.
Use our 2026 NNN cap-rate guide to benchmark pricing, then review investment-grade NNN tenants for a 1031 exchange if you are deciding whether to stay in QSR or trade up in tenant credit.
1031 buyer bench test: Arby’s franchise credit vs QSR yield
Arby’s NNN properties can solve a 1031 identification need when the lease term, operator guarantee, and purchase price line up. The risk is assuming the national brand makes the lease investment grade when the lease may depend on a franchisee’s credit and local unit performance; confirm the tenant and any guarantor in the lease.
Before using Arby’s as a replacement-property candidate, benchmark the cap rate against the 2026 NNN cap-rate framework and compare the risk-adjusted yield with the investment-grade NNN tenant shortlist for 1031 buyers. The right question is not whether Arby’s is familiar, but whether the spread pays you for the guaranty risk.
Arby's NNN Properties Observed For Sale
42 active Arby's net lease listings observed across public listing sources, most recently Oct 9, 2026. Asking figures as published by the listing party.
| Location | Asking Price | Cap Rate | Building SF | Term Left | |
|---|---|---|---|---|---|
| Cody, WY | $1,200,000 | 6.00% | 2,586 | n/a | View listing |
| Cheyenne, WY | $1,360,726 | 6.75% | 3,305 | 13.3 yrs | View listing |
| Las Vegas, NM | $975,000 | 5.60% | 2,500 | 4.7 yrs | View listing |
| North Bend, WA | $2,650,000 | 5.25% | 3,153 | n/a | View listing |
| FREDERICK, MD | $2,733,791 | 5.75% | 2,533 | n/a | View listing |
| Williamsburg, IA | $1,999,999 | 5.82% | 3,704 | n/a | View listing |
| DAVENPORT, IA | $1,202,866 | 6.00% | 3,108 | 9.4 yrs | View listing |
| Cedar Rapids, IA | $2,250,000 | 5.75% | 3,219 | n/a | View listing |
Search all 42 observed Arby's listings and the full NNN inventory
Market observations aggregated from listing broker materials; not offerings by Investment Grade Income Property, LP. Buyer representation available on a cooperating commission basis. Information deemed reliable but not guaranteed.
