| Metric | Details |
|---|---|
| Entity / Legal Name | Jimmy John’s, a brand of Inspire Brands, Inc.; confirm the tenant entity in the lease |
| Parent Company | Inspire Brands, Inc. (a Roark Capital portfolio company) |
| S&P Rating | no verified rating |
| Investment Grade Status | Not Yet Verified |
| Sector | Restaurant (Sandwich) |
| Headquarters | Champaign, Illinois, at the time of the 2019 Inspire acquisition |
| Location Count | 2,800+ restaurants in 6 global markets (Inspire Brands, October 2026) |
| Median asking cap rate | See the live table below |
| Typical Lease Term | Varies; confirm the term and lease type in the lease |
| Guarantee Type | Varies; often the franchise operator. Confirm the tenant and any guaranty in the lease |
| Typical Building Size | Varies by site; confirm in the lease |
Jimmy John's: no confirmed agency rating. No rating for Jimmy John'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.
Jimmy John’s Business Overview & NNN Investment Profile
Jimmy John’s is a sandwich chain with more than 2,800 restaurants in six global markets (Inspire Brands, October 2026). Founded in 1983 in Charleston, Illinois, the brand was acquired by Inspire Brands in October 2019, joining a portfolio that then included Arby’s, Sonic, Buffalo Wild Wings and Rusty Taco (Inspire Brands, October 18, 2019).
Jimmy John’s NNN properties vary in format, building size, price and lease term from site to site, so confirm each of these in the lease and offering materials rather than relying on a brand-wide profile.
S&P rating in our ratings database for the entity it lists as IRB Holding Corp. (Inspire Brands): no verified rating. Jimmy John’s has no separate rating in our database. A rating at or above BBB‑ is investment grade. On a franchised restaurant, the lease is often signed and guaranteed by the franchise operator rather than Inspire, so confirm the tenant and guarantor in the lease. Franchisee financial verification is critical. Request operator financials and review unit-level performance before committing to any Jimmy John’s NNN acquisition.
Cap Rate Analysis & Pricing for Jimmy John’s NNN Properties
Live asking cap rates for Jimmy John’s and comparable tenants:
| Tenant | S&P / Moody’s | Median asking cap rate | Middle half of listings | Listings | Median vs. 10-year Treasury |
|---|---|---|---|---|---|
| Dunkin' (rated entity: IRB Holding Corp. (Inspire Brands)) | n/a / n/a | 5.75% | 5.23% to 6.00% | 24 | +51 bps |
| Arby's (rated entity: IRB Holding Corp. (Inspire Brands)) | n/a / n/a | 6.00% | 5.75% to 6.45% | 40 | +76 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. Not shown because fewer than 3 active listings with a published cap rate were observed: Jimmy John's.
| Comparable Restaurant NNN Tenant | S&P / Moody’s |
|---|---|
| Arby’s (Inspire portfolio) | no verified rating |
| Sonic (Inspire portfolio) | B+ |
| Dunkin’ (Inspire portfolio) | no verified rating |
Pending verification. Our ratings database shows S&P: no verified rating for IRB Holding Corp. (Inspire Brands), and on franchised restaurants the relevant credit is often the franchise operator that signs or guarantees the lease.
What cap rates are Jimmy John’s NNN properties trading at?
Current median asking cap rates for Jimmy John’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.
How are Jimmy John’s NNN properties priced compared with other QSR brands?
Current median asking cap rates for Jimmy John’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.
As with any sandwich chain, the tenant and guarantor named in the lease are the operative credit on each Jimmy John’s deal.
Jimmy John’s Net Lease Property: Buying, Selling and Financing
Buying: We find on-market and off-market Jimmy John’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 Jimmy John’s NNN pricing before your 1031 clock starts
Jimmy John’s buyers should compare the lease guarantee, franchisee credit, sandwich-shop real estate format, remaining term, and current 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 and the investment grade guide if you are deciding whether to stay in QSR or trade up in tenant credit.
1031 buyer bench test: Jimmy John’s vs stronger-credit NNN alternatives
For any Jimmy John’s property, the underwriting should start with operator credit, lease guarantee, rent coverage, remaining term, and inline or endcap real estate utility. The brand name is not the credit tenant.
Before identifying a Jimmy John’s replacement property, compare it against the 2026 NNN cap-rate framework and the investment-grade NNN tenant shortlist for 1031 buyers. If the spread to better-credit tenants is narrow, the safer exchange may be to trade up in guaranty strength instead of chasing a familiar sandwich concept.
