160 NNN properties are observed for sale in Arizona across 104 tenants and 49 cities as of October 23, 2026, at a median asking cap rate of 6.00%, 35 basis points below the national median of 6.35%. Investment Grade Research tracks each one across publicly marketed offerings and broker materials, checks every tenant against the investment grade threshold, and publishes the observations here: which tenants and cities carry the inventory, what it is asking, how Arizona prices against the national market, and how an acquisition or 1031 exchange buyer should work through it.
Asking cap rates in Arizona run from 4.00% to 9.50%, with the middle half of listings between 5.25% and 6.50%. Median asking price $3.17M (median $691 per SF). Average remaining lease term 9.1 years among 47 listings that state a term. 22 listings report a 2026 build year. 87 listings came to market and 66 left the market in the last 90 days. Figures update automatically across publicly marketed offerings and broker materials.
Key findings, as of October 23, 2026
- 160 NNN listings are observed in Arizona, the 17th largest inventory of the 50 states with listings.
- The median asking cap rate of 6.00% is 35 basis points below the national median, the 43rd widest gap from the national median among the 50 states.
- Comparing the same tenants, Arizona listings ask 34 basis points tighter than those tenants elsewhere (13 tenants, 53 Arizona listings), so part of the gap above reflects location and part reflects which tenants are on the market.
- The median Arizona listing has been on the market 80 days; 87 came to market and 66 left the market in the last 90 days.
NNN Properties For Sale in Arizona: Latest Listings
Up to twenty-four single-tenant net lease properties in Arizona with published pricing, the newest from each tenant first so the table reflects the whole Arizona market rather than one or two active tenants. Below the table, the full listing browser carries every observed Arizona listing with tenant, city, cap rate, price and term filters. Open any listing and register for full property data, including the address, location map and an IG summary with due diligence questions.
| Tenant | City | Asking Price | Cap Rate | NOI | Term Left | Built | Lease | |
|---|---|---|---|---|---|---|---|---|
| Dogtopia | Tempe | $7,560,000 | 7.00% | $529,440 | n/a | 1981 | Not stated | Get full property data |
| Walgreens | Coolidge | $4,332,000 | 6.50% | $281,580 | n/a | 2006 | Not stated | Get full property data |
| Black Rock Coffee | Mesa | $2,454,545 | 5.50% | $135,000 | n/a | 2025 | Not stated | Get full property data |
| National Veterinary Association | Tucson | $1,800,000 | 6.76% | $121,727 | n/a | 2002 | Not stated | Get full property data |
| Golden Corral | Glendale | $5,195,000 | 6.50% | $337,616 | n/a | 2005 | Not stated | Get full property data |
| Chipotle | Marana | $4,536,000 | 4.85% | $220,000 | n/a | 2026 | Not stated | Get full property data |
| Battery Systems | Yuma | $700,000 | 6.00% | $42,000 | n/a | n/a | Not stated | Get full property data |
| Sprouts Farmers Market | Yuma | $12,240,000 | 5.97% | $731,222 | n/a | 2025 | Not stated | Get full property data |
| Heartland Dental | Bullhead City | $3,825,000 | 5.60% | $214,200 | n/a | 2025 | Not stated | Get full property data |
| Bruster's Real ICE Cream | Chandler | $2,560,000 | 6.25% | $160,000 | n/a | 2021 | Not stated | Get full property data |
| Tuxon Chix | Tucson | $1,274,483 | 7.25% | $92,400 | n/a | 1984 | Not stated | Get full property data |
| Shell and Jiffy Lube | Phoenix | $2,323,000 | 5.50% | $127,776 | n/a | 1995 | Not stated | Get full property data |
| Goodwill | Mesa | $5,750,000 | 6.54% | $376,047 | n/a | 1982 | Not stated | Get full property data |
| Cracker Barrel | Phoenix | $4,399,356 | 5.75% | $252,963 | n/a | 1997 | Not stated | Get full property data |
| Ross Dress for Less | Tucson | $3,990,000 | 7.66% | $305,804 | n/a | 1984 | Not stated | Get full property data |
| Habit Burger Grill | Laveen | $3,337,000 | 5.00% | $166,870 | n/a | 2023 | Not stated | Get full property data |
| Elite Benz | Scottsdale | $3,050,000 | 5.35% | $163,196 | n/a | 2007 | Not stated | Get full property data |
| Mister Car Wash | Sahuarita | $5,462,000 | 5.70% | $311,390 | n/a | 2022 | Not stated | Get full property data |
| Firestone | Mesa | $4,261,000 | 5.75% | $245,000 | n/a | 2011 | Not stated | Get full property data |
| Icons Sports Grill | Gilbert | $1,620,000 | 6.00% | $97,152 | n/a | 2004 | Not stated | Get full property data |
| Red Robin | Peoria | $4,454,000 | 6.00% | $267,262 | n/a | 2002 | Not stated | Get full property data |
| Parachute Plasma | Bullhead City | $4,400,557 | 7.00% | $308,039 | n/a | 2026 | Not stated | Get full property data |
| Circle K | Scottsdale | $5,372,000 | 4.00% | $214,884 | n/a | 1996 | Not stated | Get full property data |
| Peet's Coffee | Bullhead City | $998,000 | 6.16% | $61,512 | n/a | 2017 | Not stated | Get full property data |
Showing 24 of 160 observed Arizona listings: the newest from each tenant first, then each tenant’s next newest. Listings without a published asking price and cap rate are not shown here.
Market observations aggregated from publicly marketed offerings and broker materials; not offerings by Investment Grade Income Property, LP. Asking price, cap rate and NOI as published by the offering party. Information deemed reliable but not guaranteed. Verify all figures before relying on them.
Arizona NNN Properties by Tenant
Listing count, median asking cap rate and cap range by tenant. Tenants with a linked page have a full credit rating, cap rate and inventory profile; the rest are tracked here at the state level until they earn a page of their own.
| Tenant | Listings | Median Cap | Cap Range | Median Price | |
|---|---|---|---|---|---|
| Walgreens | 9 | 6.91% | 6.50% to 7.63% | $3.70M | Walgreens NNN for sale |
| Circle K | 6 | 4.82% | 4.00% to 5.19% | $2.99M | Circle K NNN for sale |
| Chipotle | 5 | 4.75% | 4.65% to 5.00% | $4.33M | Chipotle NNN for sale |
| Starbucks | 5 | 5.20% | 5.00% to 5.45% | $3.18M | Starbucks NNN for sale |
| Jack in the Box | 4 | 5.51% | 4.75% to 7.25% | $2.70M | |
| Big O Tires | 3 | 6.00% | 5.75% to 6.25% | $4.97M | Big O Tires NNN for sale |
| Black Rock Coffee | 3 | 5.00% | 5.00% to 5.50% | $3.38M | |
| CVS | 3 | 6.69% | 6.00% to 7.25% | $5.94M | CVS NNN for sale |
| Dutch Bros | 3 | 5.25% | 5.20% to 5.25% | $3.05M | Dutch Bros NNN for sale |
| Family Dollar | 3 | 8.35% | 7.50% to 9.50% | $1.17M | Family Dollar NNN for sale |
| Shell and Jiffy Lube | 3 | 6.13% | 5.50% to 6.36% | $2.32M | Shell and Jiffy Lube NNN for sale |
| Sherwin-Williams | 3 | 5.50% | 5.00% to 5.50% | $3.46M | Sherwin-Williams NNN for sale |
| Take 5 Oil Change | 3 | 5.25% | 5.10% to 6.00% | $1.96M | |
| Verizon | 3 | 6.39% | 5.80% to 7.50% | $1.71M | Verizon NNN for sale |
| CAR Wash | 2 | 6.08% | 5.15% to 7.00% | $6.60M | |
| Community Medical Services | 2 | 7.13% | 7.00% to 7.25% | $1.47M | |
| Cracker Barrel | 2 | 5.93% | 5.75% to 6.10% | $4.95M | |
| Dollar General | 2 | 7.75% | 6.85% to 8.65% | $1.25M | Dollar General NNN for sale |
| Dutch Bros | 2 | 5.25% | 5.25% to 5.25% | $2.85M | Dutch Bros NNN for sale |
| Firestone | 2 | 5.75% | 5.75% to 5.75% | $3.52M | Firestone NNN for sale |
| Golden Corral | 2 | 6.50% | 6.50% to 6.50% | $4.46M | |
| Goodwill | 2 | 6.35% | 6.15% to 6.54% | $5.47M | |
| Heartland Dental | 2 | 5.48% | 5.35% to 5.60% | $3.88M | Heartland Dental NNN for sale |
| KinderCare Learning Center | 2 | 6.25% | 6.00% to 6.50% | $6.85M | |
| Quik Mart | 2 | 6.00% | 6.00% to 6.00% | $2.83M | |
| Raising Cane's | 2 | 4.72% | 4.50% to 4.94% | $6.01M | |
| Take 5 | 2 | 5.63% | 5.25% to 6.00% | $1.80M | |
| The Learning Experience | 2 | 6.85% | 6.50% to 7.20% | $5.58M | |
| Action Behavior Centers | 1 | 7.15% | 7.15% to 7.15% | $3.78M | |
| American Vision Partners | 1 | n/a | n/a | $3.95M | |
| Amped Fitness | 1 | 7.25% | 7.25% to 7.25% | $11.90M | |
| Angie's | 1 | 5.70% | 5.70% to 5.70% | $2.63M | |
| Angie's Lobster | 1 | 6.27% | 6.27% to 6.27% | $2.95M | |
| Angie's Prime Grill | 1 | 6.35% | 6.35% to 6.35% | $2.68M | |
| Applebee's | 1 | 6.34% | 6.34% to 6.34% | $2.69M | Applebee's NNN for sale |
| Arizona Pain Surgery Center | 1 | 6.50% | 6.50% to 6.50% | $6.39M | |
| Battery Systems | 1 | 6.00% | 6.00% to 6.00% | $0.70M | |
| Biscuits Cafe | 1 | 6.25% | 6.25% to 6.25% | $3.65M | |
| Black Rock Coffee Bar | 1 | 5.50% | 5.50% to 5.50% | $2.27M | |
| Bojangles | 1 | 6.75% | 6.75% to 6.75% | $7.37M |
Tenants with the most Arizona listings observed (top 40 of 104). Tenants with a linked page have a full credit and inventory profile; 66 of the 160 listings belong to tenants with a profile page.
Arizona NNN Properties by Category
- QSR NNN properties for sale (15 in Arizona across 4 tenants)
- Pharmacy NNN properties for sale (12 in Arizona across 2 tenants)
- Auto Parts and Service NNN properties for sale (8 in Arizona across 3 tenants)
- Gas Station and C-Store NNN properties for sale (6 in Arizona across 1 tenants)
- Dollar Store NNN properties for sale (5 in Arizona across 2 tenants)
- Healthcare NNN properties for sale (2 in Arizona across 1 tenants)
- Casual Dining NNN properties for sale (1 in Arizona across 1 tenants)
Counts cover tenants with a profile page; the category pages aggregate the same tenants nationally.
Arizona NNN Properties by City
The cities with the most observed Arizona listings are Tucson (31), Phoenix (21), Mesa (19). Tap any city in the table to filter the full listing browser to that city.
| City | Listings | Median Cap | Avg Asking Price |
|---|---|---|---|
| Tucson | 31 | 6.00% | $3.28M |
| Phoenix | 21 | 6.00% | $3.27M |
| Mesa | 19 | 5.45% | $4.16M |
| Yuma | 8 | 6.35% | $4.15M |
| Peoria | 7 | 6.25% | $4.44M |
| Chandler | 6 | 6.38% | $4.83M |
| Scottsdale | 6 | 5.50% | $4.08M |
| Surprise | 6 | 5.25% | $5.37M |
| Gilbert | 5 | 6.00% | $4.10M |
| Bullhead City | 4 | 6.08% | $3.17M |
| Glendale | 4 | 6.25% | $3.19M |
| San Tan Valley | 3 | 5.25% | $2.04M |
| Tempe | 3 | 6.10% | $3.33M |
| Apache Junction | 2 | 5.90% | $2.91M |
| Buckeye | 2 | 5.00% | $3.63M |
| Casa Grande | 2 | 5.75% | $2.29M |
| Marana | 2 | 5.43% | $3.29M |
| Maricopa | 2 | 5.50% | $3.12M |
| Prescott Valley | 2 | 5.85% | $2.72M |
| Sahuarita | 2 | 5.60% | $4.46M |
Cities with the most Arizona listings observed (top 20 of 49). Tap a city to filter the full listing browser.
How Arizona Prices Against the National NNN Market
The Arizona median asking cap rate of 6.00% sits 35 bps below the national median of 6.35%. A state median reflects both location and which tenants happen to be on the market, which is why the key findings above compare the same tenants inside and outside Arizona. Compare any listing with its tenant’s national cap rate bands on the tenant page before reading the state spread as a discount or a premium; the investment grade guide explains how tenant credit sets the floor under those bands.
Arizona Taxes and the 1031 Exchange Buyer
General information, not tax or legal advice. State income tax, real estate transfer tax and property tax assessment rules differ by state, and sometimes by county or city, and they affect both your exchange and what a replacement tenant could afford in rent. Confirm the rules that apply to your property with your CPA, tax attorney and qualified intermediary before you rely on them. Replacement property must be identified within 45 days after the sale of the relinquished property and received by the earlier of 180 days after that sale or the due date, including extensions, of your tax return for that year (Internal Revenue Code Section 1031(a)(3); Treasury Regulation 1.1031(k)-1(b)(2)). Ask your qualified intermediary to confirm your exact dates, and use the full listing browser above to filter Arizona inventory by tenant and city, or each tenant page for national inventory on the same credit.
How These Figures Are Calculated
Figures cover single-tenant net lease properties observed for sale in Arizona across publicly marketed offerings and broker materials, and refresh automatically with each Investment Grade Research update. A listing counts while it is actively marketed; listings marked under contract, pending or closed are excluded, as are listings priced under $150,000. Medians use published asking figures only, so they describe what sellers are asking, not closed sale prices. The same-tenant comparison takes each tenant’s median asking cap rate in Arizona and compares it with that tenant’s median in other states, for tenants with at least three Arizona listings and five listings elsewhere, weighted by Arizona listing count. Days on market are measured from the date a listing was first observed.
Frequently Asked Questions: NNN Properties For Sale in Arizona
How many NNN properties are for sale in Arizona right now?
As of October 23, 2026, 160 single-tenant net lease properties are observed for sale in Arizona across 104 tenants and 49 cities. The count updates automatically as listings are added and withdrawn.
What cap rates are Arizona NNN properties asking?
The median asking cap rate across observed Arizona listings is 6.00%, with the middle half of listings between 5.25% and 6.50%. That median is 35 bps below the national median of 6.35%. Cap rates vary by tenant, guarantee, remaining term and location; confirm the lease before relying on any single figure.
Which tenants have the most NNN listings in Arizona?
The tenants with the most observed Arizona listings right now are Walgreens (9), Circle K (6), Chipotle (5). The tenant table above lists the top 40.
Which Arizona cities have the most NNN properties for sale?
The cities with the most observed listings are Tucson (31), Phoenix (21), Mesa (19). The city table above lists the top 20 and filters the full listing browser.
Are these listings offered by Investment Grade?
No. These are market observations aggregated from publicly marketed offerings and broker materials, not offerings by Investment Grade Income Property, LP. Registering for full property data connects you with our team for buyer representation and due diligence; the listing broker remains the listing broker.
NNN Properties For Sale in Other States
- NNN properties for sale in California (444 listings)
- NNN properties for sale in Florida (678 listings)
- NNN properties for sale in Georgia (314 listings)
- NNN properties for sale in Illinois (337 listings)
- NNN properties for sale in Maryland (54 listings)
- NNN properties for sale in New Jersey (74 listings)
- NNN properties for sale in New York (185 listings)
- NNN properties for sale in North Carolina (288 listings)
- NNN properties for sale in Tennessee (209 listings)
- NNN properties for sale in Texas (915 listings)
- NNN properties for sale in Utah (53 listings)
