| Metric | Details |
|---|---|
| Entity / Legal Name | Microsoft Corporation |
| Ticker | NASDAQ: MSFT |
| Credit Ratings on File (Microsoft Corporation) | no verified rating |
| Investment Grade Status | Not Yet Verified |
| Sector | Technology / Software / Data Centers |
| Headquarters | Redmond, Washington |
| Annual Revenue | $331.8 billion (fiscal year ended June 30, 2026) |
| Market Value Held by Non-Affiliates | About $3.6 trillion at December 31, 2025 (Form 10-K) |
| Median asking cap rate | Too few active Microsoft listings to show a median |
| Property Types Microsoft Owns or Leases | Offices, datacenters and research and development facilities (Form 10-K) |
| Guarantee Type | Confirm the tenant entity and any guarantor on each lease |
Microsoft: no confirmed agency rating. No rating for Microsoft 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.
What Is Microsoft’s Credit Rating?
Microsoft Corporation’s Form 10-K for the fiscal year ended June 30, 2026 states that, as of June 30, 2026, its long-term unsecured debt rating was AAA; the filing does not name the rating agency. AAA is the top category of the investment grade scale, which runs from AAA (Aaa at Moody’s) down to BBB‑ (Baa3). Ratings on file in our ratings database: S&P no verified rating, Moody’s no verified rating.
Source: Microsoft Corporation Form 10-K for the fiscal year ended June 30, 2026 (derivatives note). Full table: investment grade credit tenant ratings.
Microsoft Business Overview & NNN Investment Profile
Microsoft Corporation reported fiscal 2026 revenue of $331.8 billion (year ended June 30, 2026) and a non-affiliate market value of about $3.6 trillion at December 31, 2025, with major businesses in software (Microsoft 365), cloud (Azure), gaming (Xbox) and AI, including Copilot and a long-term strategic partnership with OpenAI, in which Microsoft is a major investor (Form 10-K). For how agencies define each credit rating category, see our guide.
Microsoft’s NNN real estate footprint differs from traditional retail NNN. Microsoft owns and leases offices, datacenters and research and development facilities worldwide, about 112 million square feet at June 30, 2026, of which about 54 million is leased. In June 2020 it announced the closing of its Microsoft Store physical locations (fiscal 2020 Form 10-K). For NNN investors, Microsoft Corporation’s credit applies to a lease only if Microsoft Corporation signs or guarantees it, so confirm the tenant entity and any guarantor in each lease. At June 30, 2026, Microsoft held $76.8 billion of cash, cash equivalents and short-term investments (Form 10-K). A strong rating does not remove default, lease or real estate risk.
Microsoft reported $331.8 billion of fiscal 2026 revenue, operating cash flow of $182.9 billion less $115.9 billion of additions to property and equipment (about $67 billion), and $46.1 billion of total debt at face value against $155.2 billion of fiscal 2026 operating income (Form 10-K). Ratings on file in our ratings database: S&P no verified rating / Moody’s no verified rating; compare other tenants in the credit rating index. Any rating supports a lease only if Microsoft Corporation signs or guarantees it.
Cap Rate Analysis
Live asking cap rates for comparable tenants (Microsoft appears once at least three active Microsoft listings with a published cap rate are tracked):
| Tenant | S&P / Moody’s | Median asking cap rate | Middle half of listings | Listings | Median vs. 10-year Treasury |
|---|---|---|---|---|---|
| Walmart | AA / Aa2 | 5.13% | 4.44% to 5.81% | 6 | −12 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: Microsoft, Apple.
| Comparable Prime NNN Tenant | S&P / Moody’s |
|---|---|
| Apple | AA+/Aaa |
| Google (Alphabet) | Not tracked |
| Walmart | AA/Aa2 |
Microsoft Credit Rating FAQ
Microsoft Net Lease Property: Buying, Selling and Financing
Buying: We find on-market and off-market Microsoft 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
Microsoft in a 1031 exchange: tenant credit versus cap-rate spread
Microsoft Corporation’s credit applies only where Microsoft Corporation signs or guarantees the lease, and buyers still need to test whether the cap rate fits their income target. Compare the lease structure, property type, and credit premium against current 2026 NNN cap rates before paying for top-rated tenant credit.
For 1031 buyers ranking replacement-property options by credit, compare Microsoft’s ratings with other tenants’ ratings. Use best investment grade NNN tenants for a 1031 exchange to compare that credit safety against higher-yield tenants.
New to the metric? See what a cap rate is and how it is calculated.
