Looking to buy a Dunkin' NNN property? 24 are observed for sale across 11 states, median asking cap rate 5.75%. View Dunkin' NNN properties for sale, cap rate bands and the 1031 buyer guide.
| Metric | Details |
|---|---|
| Entity / Legal Name | Dunkin’ Brands Group, Inc. (acquired by Inspire Brands, Inc. on December 15, 2020); the lease tenant is often a franchisee |
| Parent Company | Inspire Brands, Inc. (majority-owned by affiliates of Roark Capital at the 2020 merger announcement) |
| S&P Rating | no verified rating |
| Investment Grade Status | Not Yet Verified |
| Sector | Restaurant / Quick Service (Coffee & Bakery) |
| Headquarters | Canton, Massachusetts (Dunkin’ Brands, Form 10-K for fiscal 2019); Inspire Brands is based in Atlanta, Georgia |
| US Location Count | 10,000+ restaurants (Inspire Brands, October 2025) |
| Global Location Count | 14,200+ restaurants in 39 global markets (Inspire Brands, fiscal 2025) |
| Median asking cap rate | See the live table below |
| Typical Lease Term | Varies; confirm in the lease |
| Guarantee Type | Often a franchisee; confirm the tenant and guarantor in the lease |
| Typical Building Size | Varies; median 2,008 SF in the current Dunkin’ listings we track |
Dunkin’ Business Overview & NNN Investment Profile
Inspire Brands describes Dunkin’ as the leading coffee and donuts brand in the U.S. Dunkin’ reached 10,000 U.S. restaurants in October 2025 and had more than 14,200 restaurants in 39 global markets as of fiscal 2025. Inspire Brands, Inc. completed its $11.3 billion acquisition of Dunkin’ Brands Group, Inc. on December 15, 2020. Dunkin’ generated $14.5 billion of Inspire’s $33.4 billion in global system sales in fiscal 2025, according to Inspire’s 2026 fact sheet.
For NNN investors, the key question is whether the franchisee and the site support the price, not only the parent’s credit rating. A key NNN underwriting factor is who signs and guarantees the lease: Dunkin’ Brands reported that 100% of its restaurants were franchisee-owned and operated as of December 28, 2019 (Form 10-K), so the tenant is often a franchisee rather than Inspire; confirm in the lease.
The rating fields in the table above refer to Dunkin’s parent, not to the franchisee that often signs the lease. A Dunkin’ lease signed by a franchisee does not carry the parent’s credit rating unless the parent guarantees it. Compare asking cap rates with other tenants in the live table below. Franchisee financial strength varies, so review the operator’s financial statements and unit count.
Dunkin’ Pricing and the Parent Credit Rating
Dunkin': no confirmed agency rating. No rating for Dunkin' 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.
Underwrite more than the parent’s credit rating: review the franchisee operator’s experience and financial strength, the site’s drive-thru and traffic, and the remaining lease term for the specific property.
Source: No agency rating has been verified against a primary source. Ratings checked October 8, 2026.
Cap Rate Analysis & Pricing for Dunkin’ NNN Properties
Live asking cap rates for Dunkin’ and comparable tenants:
| Tenant | S&P / Moody’s | Median asking cap rate | Middle half of listings | Listings | Median vs. 10-year Treasury |
|---|---|---|---|---|---|
| 7-Eleven | A- / Baa2 | 5.15% | 4.93% to 5.50% | 147 | −9 bps |
| Dunkin' (rated entity: IRB Holding Corp. (Inspire Brands)) | n/a / n/a | 5.75% | 5.23% to 6.00% | 24 | +51 bps |
| Starbucks | BBB+ / Baa1 | 5.75% | 5.35% to 6.19% | 118 | +51 bps |
| Dairy Queen (rated entity: Berkshire Hathaway Inc.) | n/a / n/a | 5.82% | 5.50% to 6.63% | 13 | +58 bps |
| Arby's (rated entity: IRB Holding Corp. (Inspire Brands)) | n/a / n/a | 6.00% | 5.75% to 6.45% | 40 | +76 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.
Pricing for a specific property depends on its location, drive-thru, remaining lease term and franchisee guarantor.
| Comparable Restaurant NNN Tenant | S&P / Moody’s |
|---|---|
| Dairy Queen (Berkshire) | AA- |
| 7-Eleven (Seven & i) | A-/Baa2 |
| Arby’s (Inspire portfolio) | no verified rating |
Pending verification. No rating for Dunkin' 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. Pricing for a specific property also depends on the franchisee guarantor, the site and the remaining lease term.
What are asking cap rates for Dunkin’ NNN properties?
Current median asking cap rates for Dunkin’ 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.
The live table on this page shows current asking cap rates for Dunkin’ and Arby’s, another Inspire brand. Pricing for each property depends on its tenant and guarantor, site and remaining lease term, not only the shared Inspire parent rating.
Starbucks Corporation carries long-term debt ratings of BBB+ from S&P Global Ratings and Baa1 from Moody’s: all investment grade (BBB-/Baa3 or higher). Any rating shown for Dunkin’ on this page is its parent’s. Starbucks reported that almost all of its 21,514 company-operated stores were leased as of September 28, 2025 (Form 10-K), while Dunkin’ leases are often signed by franchisees. Compare current asking cap rates for both brands in the live table on this page.
Dunkin’ Net Lease Property: Buying, Selling and Financing
Buying: We find on-market and off-market Dunkin’ 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 Dunkin’ NNN pricing before your 1031 clock starts
Dunkin’ buyers should compare the lease guarantee, franchisee credit, drive-thru or end-cap format, remaining term, and current coffee/QSR 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: Dunkin’ cap rate vs tenant credit
Dunkin’ pricing depends on more than the Inspire Brands parent rating, including coffee demand, drive-thru utility and the franchisee operator. For a 1031 buyer, a tight cap rate only works when the specific lease guarantee, unit economics, and real estate fundamentals support the price.
Before identifying a Dunkin’ replacement property, compare the going-in yield against the 2026 NNN cap-rate framework and the investment-grade NNN tenant shortlist for 1031 buyers. A tight Dunkin’ cap rate may still be rational, but only if the operator credit and site quality justify the price.
Dunkin' NNN Properties Observed For Sale
24 active Dunkin' 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 | |
|---|---|---|---|---|---|
| Morristown, VT | $2,567,000 | 6.00% | 2,500 | 19.0 yrs | View listing |
| Saint Albans City, VT | $2,369,000 | 6.50% | 3,000 | 19.0 yrs | View listing |
| Hernando, MS | $1,714,321 | 5.60% | 2,016 | 12.7 yrs | View listing |
| Wichita, KS | $1,760,000 | 6.25% | 2,000 | 8.2 yrs | View listing |
| Hutchinson, KS | $1,905,000 | 5.95% | 2,169 | n/a | View listing |
| Derby, KS | $1,695,000 | 6.23% | 2,000 | 12.8 yrs | View listing |
| BROKEN ARROW, OK | $1,225,000 | 6.76% | 1,900 | n/a | View listing |
| Frederick, CO | $3,477,000 | 5.35% | 2,128 | n/a | View listing |
Search all 24 observed Dunkin' 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.
