This page tracks Chick-fil-A 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 Chick-fil-A 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.
Chick-fil-A is not rated. Chick-fil-A carries no public long-term issuer rating from S&P Global Ratings, Moody’s or Fitch, as a privately held company. Leases are evaluated on financial statements and lease guarantee rather than an agency grade. Ratings checked September 27, 2026. Ratings change; confirm before relying on any figure here. See the Chick-fil-A credit rating and NNN cap rate profile and the investment grade credit tenant ratings table.
50 Chick-fil-A NNN properties observed for sale across 21 states as of October 2, 2026. Median asking cap rate 4.24% (range 3.75% to 6.30%). Median asking price $4.09M. Average remaining lease term 14.7 years (among 21 listings that state a term). Median building 5,004 SF. Figures update automatically from listing broker materials.
Chick-fil-A is not rated. Chick-fil-A carries no public long-term issuer rating from S&P Global Ratings, Moody’s or Fitch, as a privately held company. Leases are evaluated on financial statements and lease guarantee rather than an agency grade. Ratings checked September 27, 2026. See the investment grade credit tenant ratings table.
Chick-fil-A NNN Properties For Sale: Latest Listings
Up to twelve of the most recently listed single-tenant Chick-fil-A 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.
| Location | Asking Price | Cap Rate | NOI | Term Left | Built | Lease | |
|---|---|---|---|---|---|---|---|
| Mobile, AL | $3,253,012 | 4.15% | $135,000 | n/a | 2026 | Not stated | Get full property data |
| Fort Worth, TX | $4,800,000 | 3.75% | $180,000 | n/a | 2026 | Not stated | Get full property data |
| Miami, FL | $9,880,000 | 4.15% | $410,000 | n/a | 2024 | Not stated | Get full property data |
| Little Rock, AR | $4,285,714 | 3.85% | $165,000 | n/a | 2026 | Not stated | Get full property data |
| Lansing, MI | $3,222,000 | 4.50% | $145,000 | n/a | 2025 | Not stated | Get full property data |
| South Portland, ME | $3,615,000 | 4.15% | $150,000 | n/a | 2026 | Not stated | Get full property data |
| Springfield, IL | $2,525,252 | 4.95% | $125,000 | n/a | 2026 | Not stated | Get full property data |
| Williamsport, PA | $3,077,777 | 4.50% | $138,500 | n/a | 2025 | Not stated | Get full property data |
| San Juan, TX | $3,650,000 | 4.00% | $146,000 | n/a | 2026 | Not stated | Get full property data |
| Biloxi, MS | $3,875,000 | 4.00% | $155,000 | n/a | 2026 | Not stated | Get full property data |
| Azle, TX | $3,467,000 | 3.75% | $130,000 | n/a | 2026 | Not stated | Get full property data |
| Tifton, GA | $2,786,000 | 4.20% | $117,000 | n/a | 2026 | Not stated | Get full property data |
Showing the 12 most recently listed of 50 observed listings; listings without a published asking price and cap rate are not shown here.
Search all 50 Chick-fil-A 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.
Get new Chick-fil-A listings in your cap rate band
New Chick-fil-A net lease listings matched to your criteria, emailed as they are observed on the market. One email per match, nothing else.
Own a Chick-fil-A? Considering selling?
Investment Grade Income Property, LP advises owners nationally through Broker of Record co-listing partnerships in all 50 states. You choose the process: a quiet off-market placement with qualified 1031 buyers already searching this inventory, or a full on-market campaign. Either way it starts with a free valuation benchmark against the live Chick-fil-A listings on this page.
Investment Grade Income Property, LP is a licensed commercial real estate brokerage. Your details are used to send the information you requested and are never shared with listing brokers without your permission.
What You Are Actually Buying
Chick-fil-A operates through franchised Operators, but the company itself typically controls the real estate, and where a lease exists the structure differs meaningfully from conventional quick service. The brand is not rated by the major agencies, so there is no published issuer rating to reference, and underwriting rests on the lease document and site economics.
The median building in the current inventory is 5,004 square feet, typically on a pad site built around a double drive-thru. Corporate-signed restaurant leases price tighter than franchisee leases because the obligor is the brand itself rather than an operator.
Across the current inventory, roughly 81% of listings with a reported build year were delivered in the last four years, and about 2% 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.
Chick-fil-A 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.
| Asking Cap Rate Band | Listings | Share | Avg Asking Price |
|---|---|---|---|
| Under 5.00% | 45 | 90% | $5.12M |
| 5.00% to 5.49% | 1 | 2% | $7.37M |
| 5.50% to 5.99% | 1 | 2% | $17.81M |
| 6.00% to 6.49% | 3 | 6% | $22.79M |
| Asking Price Band | Listings | Share | Avg Cap Rate |
|---|---|---|---|
| $2.5M to $3.5M | 15 | 30% | 4.26% |
| $3.5M to $5M | 14 | 28% | 4.22% |
| $5M and above | 21 | 42% | 4.65% |
| Remaining Lease Term | Listings | Avg Cap Rate |
|---|---|---|
| 5 to 10 years | 2 | 4.73% |
| 10 to 15 years | 12 | 4.23% |
| 15 years and longer | 7 | 4.20% |
| Lease Type (as marketed) | Listings |
|---|---|
| Not stated | 25 |
| Absolute NNN | 20 |
| NNN | 4 |
| Net | 1 |
How to read the pricing
The spread inside the Chick-fil-A inventory runs from 3.75% to 6.30%, against a median of 4.24%. 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 Chick-fil-A NNN Properties Are For Sale
Current inventory spans 21 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.
| State | Listings | Avg Cap Rate | Avg Asking Price |
|---|---|---|---|
| TX | 10 | 4.41% | $5.01M |
| MA | 7 | 4.77% | $13.77M |
| CA | 4 | 4.63% | $11.04M |
| FL | 4 | 4.29% | $5.94M |
| MI | 3 | 4.50% | $3.30M |
| WI | 2 | 4.45% | $4.37M |
| IL | 2 | 4.80% | $2.93M |
| PA | 2 | 4.25% | $4.16M |
| TN | 2 | 4.08% | $3.22M |
| UT | 2 | 4.40% | $7.45M |
| GA | 2 | 4.10% | $4.52M |
| ME | 1 | 4.15% | $3.62M |
Shows the 12 states with the most listings, out of 21 states with Chick-fil-A listings. Search all listings for the rest.
Chick-fil-A as a 1031 Exchange Replacement Property
The median asking price in the current Chick-fil-A inventory is $4.09M, and about 30% 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.
- 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.
Chick-fil-A NNN Due Diligence Checklist
These are the items that change the value of a Chick-fil-A listing and are rarely resolved by the offering memorandum.
- Lease signatory. Confirm the obligor is the corporate entity and not an operating subsidiary with thin assets or a franchisee.
- Term, options and escalations. Verify the exact remaining term, the escalation schedule and whether options renew at fixed or market rent.
- Ground lease versus fee simple. Restaurant pads are frequently ground leased, which changes depreciation, financing and residual value.
- Reciprocal easement restrictions. On outparcels, review the REA for use restrictions, parking ratios, and any prohibition on drive-thru or signage changes.
How Investment Grade Works With Chick-fil-A 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 a Chick-fil-A 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 Chick-fil-A 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
How many Chick-fil-A NNN properties are for sale right now?
As of October 2, 2026, 50 single-tenant Chick-fil-A net lease properties are observed for sale across 21 states. The count updates automatically as listings are added and removed.
Is Chick-fil-A investment grade?
Chick-fil-A carries no public long-term issuer rating from S&P Global Ratings, Moody’s or Fitch, as a privately held company. Leases are evaluated on financial statements and lease guarantee rather than an agency grade. Ratings checked September 27, 2026.
What cap rate do Chick-fil-A NNN properties sell at?
The current median asking cap rate is 4.24%, with the inventory ranging from 3.75% to 6.30%. Longer term, stronger markets and absolute NNN structures price at the tight end.
How much does a Chick-fil-A NNN property cost?
The median asking price in the current inventory is $4.09M, with listings from $2.53M to $34.97M. About 30% fall between 1.5 and 3.5 million dollars.
Who signs the lease on a Chick-fil-A property?
Chick-fil-A operates through franchised Operators, but the company itself typically controls the real estate, and where a lease exists the structure differs meaningfully from conventional quick service. The brand is not rated by the major agencies, so there is no published issuer rating to reference, and underwriting rests on the lease document and site economics.
Working a Chick-fil-A acquisition or a 1031 identification deadline? Register on any listing above for full property data and a due diligence review, or email steve@investmentgrade.pro with your price range, target states and closing timeline and we will screen the live inventory for you.
