Looking to buy a Best Buy NNN property? 6 are observed for sale across 6 states, median asking cap rate 6.58%. View Best Buy NNN properties for sale, cap rate bands and the 1031 buyer guide.
| Parent Company | Best Buy Co., Inc. |
| S&P/Moody’s Rating | S&P: BBB+ (Stable) / Moody’s: A3 (Stable) |
| Sector | Specialty Retail/Electronics |
| US Locations | 926 Domestic segment stores (as of August 1, 2026, Form 10-Q) |
| Median asking cap rate | 6.58% across listings we track, last observed October 16, 2026 (asking, not closed-sale; listing count in the live table below) |
| Typical Lease Term | Varies; confirm in the lease |
| Guarantee Type | Varies; confirm in the lease |
| Stock Ticker | BBY (NYSE) |
| Annual Revenue | $41.7B (fiscal 2026, ended January 31, 2026, Form 10-K) |
Bond vs NNN Comparison: See how Best Buy corporate bond yields compare to Best Buy NNN cap rates, with after tax math, depreciation impact, and 1031 exchange treatment. Best Buy Bonds vs NNN →
Best Buy Business Overview & NNN Investment Profile
Best Buy is a specialty electronics retailer that describes its strategy as strengthening its position as a leading omnichannel destination for technology, with 926 Domestic segment stores as of August 1, 2026 (Form 10-Q). The company sells computers, mobile devices, appliances, smart home technology, and entertainment products. Beyond retail merchandise, Best Buy reported $2.7 billion of services revenue in fiscal 2026 (Form 10-K), from offerings that include installation, repair, technical support, memberships and warranty-related services.
From an investment grade NNN real estate perspective, Best Buy Co., Inc. is rated BBB+/A3 (S&P/Moody’s) in our ratings database and reported $41.7 billion of fiscal 2026 revenue (Form 10-K). Its Domestic store count has fallen while it sells services alongside merchandise. Some of those services, such as paid memberships, recur, while others, such as installation and repair, are one-time.
Best Buy NNN leases give investors exposure to a specialty electronics retailer. Its Domestic store count fell from 965 at February 3, 2024 to 926 at January 31, 2026 (Form 10-K). Whether Best Buy Co., Inc. signs or guarantees a given lease must be confirmed in the lease.
Best Buy Credit Rating Analysis
Best Buy Co., Inc. is rated BBB+/A3 by S&P and Moody’s in our ratings database (investment grade). Its Form 10-K for fiscal 2026 reports these credit ratings and outlooks as of March 16, 2026, without naming the rating category, so that date is the company’s reporting date, not an agency action date. Company facts, separate from any agency rationale: $41.7 billion of fiscal 2026 revenue, up 0.4%, and net earnings of $1,069 million, $927 million and $1,241 million in fiscal 2026, 2025 and 2024 (Form 10-K).
Source: S&P Global Ratings BBB+, Stable, as of March 16, 2026; Moody’s A3, Stable, as of March 16, 2026. Ratings checked October 8, 2026.
For NNN investors, Best Buy’s S&P rating of BBB+ applies to Best Buy Co., Inc.; it supports a specific lease only where that entity is the tenant or guarantor. The Form 10-K lists macroeconomic conditions and competition among its risk factors.
Learn more about specialty retail credit quality through our investment-grade credit tenant ratings analysis.
Best Buy NNN Lease Structure
Best Buy leases most of its stores: at January 31, 2026, 871 of its 926 Domestic stores were leased, 23 were owned and 32 were owned buildings on leased land (Form 10-K). Primary term and renewal options vary by lease, so confirm them in the lease. Domestic stores totaled about 35.95 million square feet, roughly 38,800 square feet per store on average (Form 10-K). The Best Buy listings we track that state a building size have a median of 30,389 square feet, last observed October 16, 2026.
Lease escalations vary; Best Buy’s Form 10-K notes that fixed lease payments may contain predetermined fixed rent escalations. Which expenses the tenant pays, and whether Best Buy Co., Inc. signs or guarantees the lease, also vary, so confirm them in the lease.
Best Buy NNN Cap Rate & Pricing Trends
Live asking cap rates for Best Buy and comparable tenants:
| Tenant | S&P / Moody’s | Median asking cap rate | Middle half of listings | Listings | Median vs. 10-year Treasury |
|---|---|---|---|---|---|
| Target | A / A2 | 5.33% | 5.06% to 5.66% | 6 | +9 bps |
| The Home Depot | A / A2 | 5.48% | 5.35% to 5.75% | 6 | +23 bps |
| Best Buy | BBB+ / A3 | 6.58% | 6.10% to 7.31% | 6 | +134 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 19, 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.
Each median is computed across that tenant’s tracked listings with a cap rate, so it is not a matched comparison; asking cap rates vary with remaining term, location, building and lease terms, and are not closed-sale cap rates.
For detailed analysis of specialty retail cap rate trends, consult our investment-grade guide.
Best Buy Real Estate Footprint & Format Evolution
Best Buy operated 926 Domestic segment stores as of August 1, 2026, including 886 Best Buy stores (Form 10-Q). The Domestic store count fell from 965 at February 3, 2024 to 926 at January 31, 2026, including 15 fewer Best Buy stores and 20 fewer Yardbird stores (Form 10-K), and as of August 1, 2026 Best Buy expected to increase its Domestic Best Buy store count by an additional two stores by the end of fiscal 2027 (Form 10-Q).
Site quality varies by property, so review the location, access and nearby retail for each listing.
Best Buy Growth & Services Diversification
Best Buy’s services include installation, repair, technical support, memberships and warranty-related services, and its Form 10-K lists margin pressure from membership offerings among the risks of its service offerings. Fiscal 2026 revenue was $41.7 billion, up 0.4 percent (Form 10-K).
Some services, such as paid memberships (the Form 10-K names My Best Buy Plus and My Best Buy Total), recur, while others, such as installation and repair, are one-time.
Best Buy Investment Pros & Cons
| Pros | Cons |
|---|---|
| BBB+/A3 rating, investment-grade credit quality | Consumer electronics cyclicality and seasonality |
| Some services, such as paid memberships, recur (Form 10-K) | Competitors include multi-channel retailers and e-commerce businesses (Form 10-K) |
| $41.7B fiscal 2026 revenue (Form 10-K) | Domestic store count fell from 965 to 926 between February 3, 2024 and January 31, 2026 (Form 10-K) |
| Positive net earnings in each of fiscal 2024, 2025 and 2026 (Form 10-K) | Most stores are leased, and Best Buy reviews each store as its lease nears expiration |
Comparable Best Buy NNN Tenants
| Tenant | Rating | Sector |
|---|---|---|
| Home Depot | A/A2 | Specialty Retail |
| Target | A/A2 | General Merchandise |
| Walmart | AA/Aa2 | Big Box/Discount Retail |
Frequently Asked Questions: Best Buy NNN Investments
How does Geek Squad differentiate Best Buy as an NNN tenant?
Best Buy’s services include installation, repair, set-up, technical support, memberships and warranty-related services (Form 10-K). Some of these, such as paid memberships like My Best Buy Plus and My Best Buy Total, recur, while others, such as installation and repair, are one-time services. Best Buy’s Form 10-K also lists margin pressure from membership offerings among the risks of its service offerings.
Why is Best Buy shrinking store count?
Best Buy says it continuously monitors store performance as part of a market-driven, omnichannel strategy and, as leases approach expiration, evaluates options for each location, including whether a store should remain open. In fiscal 2026 it closed select non-traditional stores as part of a restructuring (Form 10-K), and as of August 1, 2026 it expected to increase its Domestic Best Buy store count by an additional two stores by the end of fiscal 2027 (Form 10-Q).
What typical property sizes does Best Buy occupy?
Best Buy’s Domestic stores averaged roughly 38,800 square feet at January 31, 2026 (35.95 million square feet across 926 stores, Form 10-K), and the Best Buy listings we track have a median building of 30,389 square feet, last observed October 16, 2026. Confirm the building and lot size for each property.
How does e-commerce competition affect Best Buy credit quality?
Best Buy’s Form 10-K names e-commerce businesses among its competitors and lists competition among its risk factors; we have no data that measures the effect on its credit. In our ratings database, Best Buy Co., Inc. is rated BBB+/A3 by S&P and Moody’s (investment grade); the source line in the credit section gives the dates.
Ready to Invest in Best Buy NNN Properties?
Best Buy Net Lease Property: Buying, Selling and Financing
Buying: We find on-market and off-market Best Buy 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
- Barnes & Noble
- Bed Bath & Beyond
- Big Lots
- BJ’s Wholesale Club
- Burlington
- Costco
- Dick’s Sporting Goods
- Dillard’s
- DSW
- Dunham’s Sports
- Five Below
- Floor & Decor
- Harbor Freight
- Home Depot
- JCPenney
- Joann Fabric & Crafts
- Kirkland’s
- Kohl’s
- Lifetime Fitness
- Lowe’s
- Macy’s
- Michaels
- Nordstrom
- Office Depot / OfficeMax
- Old Navy / Gap
- Party City
- Petco
- PetSmart
- Planet Fitness
- Ross Dress For Less
- Staples
- The Container Store
- TJ Maxx / HomeGoods / Marshalls
- Tractor Supply Co.
- Ulta Beauty
- Ollie’s Bargain Outlet
- Target
- Walmart
- Sam’s Club
Best Buy NNN Properties Observed For Sale
6 active Best Buy net lease listings observed across public listing sources, most recently Oct 16, 2026. Asking figures as published by the listing party.
| Location | Asking Price | Cap Rate | Building SF | Term Left | |
|---|---|---|---|---|---|
| Burnsville, MN | $18,150,000 | 6.00% | 45,000 | 11.5 yrs | View listing |
| Glen Allen, VA | $8,244,756 | 7.50% | 45,391 | n/a | View listing |
| Benton Harbor, MI | $3,782,563 | 6.75% | 30,038 | n/a | View listing |
| Homewood, IL | $5,215,000 | 7.54% | 30,000 | n/a | View listing |
| Redding, CA | $7,780,000 | 6.00% | 30,740 | 0.5 yrs | View listing |
| FLORIDA CITY, FL | $10,300,000 | 6.41% | 30,000 | n/a | View listing |
Search all 6 observed Best Buy 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.
