| Metric | Details |
|---|---|
| Entity / Legal Name | Jimmy John’s LLC (subsidiary of Inspire Brands LLC) |
| Parent Company | Inspire Brands LLC (owned by Roark Capital Group) |
| S&P Rating | B (Inspire Brands parent) |
| Investment Grade Status | Non‑Investment Grade — Highly Speculative |
| Sector | Restaurant / Fast Casual (Sandwich) |
| Headquarters | Champaign, Illinois |
| US Location Count | ~2,700+ restaurants |
| Cap Rate Range | 5.75% – 7.00% |
| Typical Lease Term | 10 – 15 years (NNN or NN) |
| Guarantee Type | Franchisee (Jimmy John’s is 98%+ franchised) |
| Typical Building Size | 1,200 – 1,800 SF (inline or endcap) |
| Typical Price Range | $800,000 – $2,500,000 |
Jimmy John’s Business Overview & NNN Investment Profile
Jimmy John’s is a fast-casual sandwich chain known for its “Freaky Fast” delivery model, operating approximately 2,700 locations across the United States. Founded in 1983 in Charleston, Illinois, the brand was acquired by Inspire Brands in October 2019, adding a fast-casual component to a portfolio that already included QSR (Arby’s, Sonic) and casual dining (Buffalo Wild Wings). Jimmy John’s differentiates through operational speed, a focused menu of cold sandwiches, and a delivery radius model that targets office parks, college campuses, and dense suburban areas.
Jimmy John’s NNN investment profile differs from typical QSR in important ways. Most locations are inline or endcap spaces in strip centers rather than freestanding drive-thru buildings, which means the typical Jimmy John’s NNN deal is a smaller-format inline retail investment of 1,200 to 1,800 SF with a purchase price well below $2.5 million. This smaller price point makes Jimmy John’s accessible to first-time NNN investors and appeals to 1031 exchange buyers with smaller dispositions. The tradeoff is shorter initial lease terms (typically 10 to 15 years vs. 15 to 20 for freestanding QSR) and lower absolute income.
Jimmy John’s shares the Inspire Brands S&P B credit rating. Because the brand is 98%+ franchised, the NNN lease guarantee comes from the individual franchise operator rather than Inspire’s corporate entity. Jimmy John’s franchise operators tend to be smaller than Dunkin’ or Arby’s franchisees, so franchisee financial verification is especially 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
Jimmy John’s NNN properties trade in the 5.75% to 7.00% cap rate range as of Q1 2026. Inline and endcap locations with strong franchise operators and 10+ year remaining terms trade at the tighter end. Properties in secondary markets or with shorter terms approach the wider end. Pricing typically ranges from $800,000 to $2.5 million, making Jimmy John’s one of the most affordable NNN tenant types in the market.
| Comparable Restaurant NNN Tenant | S&P / Moody‑s | Cap Rate Range |
|---|---|---|
| Arby’s (Inspire portfolio) | B | 5.75% – 7.00% |
| Sonic (Inspire portfolio) | B | 5.50% – 6.75% |
| Dunkin’ (Inspire portfolio) | B | 4.75% – 6.25% |
No. Jimmy John’s parent Inspire Brands carries an S&P B rating, and because the brand is 98%+ franchised, the relevant credit for most NNN deals is the individual franchise operator.
Jimmy John’s NNN properties trade in the 5.75% to 7.00% cap rate range as of Q1 2026.
Most Jimmy John’s locations are inline or endcap spaces of 1,200 to 1,800 SF rather than freestanding drive-thru buildings, resulting in lower absolute rents and purchase prices ($800K to $2.5M). This makes them accessible entry points for first-time NNN investors.
Jimmy John’s occupies a similar market position to Jersey Mike’s and Firehouse Subs in the fast-casual sandwich segment. Its Inspire Brands backing provides more corporate infrastructure than independent sandwich brands, though the franchisee guarantee is the operative credit on each deal.
The Only Jimmy John’s NNN Advisor Whose Fee Comes From the Deal, Not From You
In NNN buyer representation, the listing broker typically pays a cooperating commission to the buyer’s broker. On the majority of transactions, this means there is no separate fee to you as the buyer. Where a cooperating commission is not available, our compensation is agreed upon with you in advance so there are never surprises.
Find It — Jimmy John’s NNN properties sourced with franchisee financial verification, unit-level sales analysis, and delivery-radius market assessment before you commit.
Fund It — Smaller-format NNN with strong operators attracts competitive financing. We have 150+ lender relationships to find terms suited to sub-$3M transactions.
Exit It — Selling a Jimmy John’s property? Affordable NNN with a nationally recognized brand attracts first-time and 1031 exchange buyers. We maximize your exit.
Get Your Free Jimmy John’s NNN Consultation →
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Related NNN Tenants
Own a Jimmy John's Property? Capital Markets Strategies Beyond Selling
Maturing debt and considering refinancing? Our capital markets team maintains 150+ lender relationships underwriting NNN properties across investment-grade and non-investment-grade credit tiers. We structure rate-and-term refinancing, cash-out refis, and bridge-to-perm takeouts.
Evaluating a 1031 exchange or disposition? We represent both sides of Jimmy John's NNN transactions — whether you are looking to exit at peak value, exchange into a higher-quality credit tenant, or reposition within the same sector.
Need a current valuation? We maintain live comps on Jimmy John's NNN transactions and can produce a Broker Opinion of Value within 48 hours reflecting today’s cap rate market.
Own multiple Jimmy John's properties? Considering an off-market sale?
Investment Grade represents owners on confidential disposition of Jimmy John's portfolios and individual properties through off-market direct-to-principal distribution to specialty REITs, private equity funds, and family offices. Jimmy John's buyer demand runs deep, and portfolio sales consistently produce stronger pricing than sequential individual sales because the institutional buyer pool is structured around portfolio acquisition.
For multi-property owners considering a portfolio disposition, see Selling Investment Grade NNN Off-Market: Tenant-by-Tenant Buyer Demand. For the full off-market framework covering individual property dispositions, sale-leasebacks, and 1031 coordination, see Off-Market CRE Sales: The Complete 2026 Guide.
The pre-listing conversation is at no cost and fully confidential. Email team@investmentgrade.com or see contact Investment Grade.
