InvestmentGrade.com helps investors buy, sell, and 1031 exchange net lease (NNN) property across the United States, with direct ownership rather than fractional shares. On the majority of acquisitions, there is no separate fee to you as the buyer for representation; we are typically paid through the cooperating commission the listing broker pays at closing. Where one is not available, any compensation is agreed with you in writing in advance.
This page summarizes the current net lease market from active listings InvestmentGrade.com tracks and links to live listing pages by tenant. All figures are asking prices and asking cap rates published by listing parties, not closed sales, and they update automatically.
The NNN Market Today
As of October 16, 2026, InvestmentGrade.com tracks 6,750 active net lease listings that publish an asking cap rate. The median asking cap rate is 6.35%, and the middle half of listings ask between 5.75% and 7.13%.
| Tenant rating category (S&P, or Moody’s equivalent) | Median asking cap rate | Middle half of listings | Listings (tenants) |
|---|---|---|---|
| AA | 5.25% | 4.75% to 6.25% | 61 (7) |
| A | 5.25% | 5.00% to 6.00% | 327 (19) |
| BBB | 6.65% | 6.00% to 7.39% | 1,148 (24) |
| BB | 6.25% | 5.50% to 7.25% | 225 (16) |
| B | 7.00% | 5.75% to 8.35% | 385 (10) |
| Not publicly rated (private companies) | 6.08% | 5.20% to 7.73% | 722 (23) |
Active listings InvestmentGrade.com tracks with an asking cap rate (stated, or computed from stated income and price when no rate is stated), listings last observed October 16, 2026, grouped by the rating of tenants rated in their own name; franchised brands rated only through a parent company are left out because a parent’s rating applies to a franchisee’s lease only if the parent signs or guarantees it. Asking cap rates are not closed-sale cap rates, and location, lease term, and ground lease structure move cap rates as much as the rating. Categories with fewer than 10 listings are not shown (CCC and lower).
Search and filter current listings by property type, state, cap rate, and price on the NNN property search.
Current Listings by Tenant
Each page below shows that tenant’s active listings, asking cap rates by lease term, the tenant’s credit rating, and what to check before making an offer.
- 7-Eleven
- Advance Auto Parts
- Amazon
- Applebee’s
- Arby’s
- Aspen Dental
- AT&T
- AutoZone
- Bank of America
- Best Buy
- BMO Bank
- Burger King
- Chevron
- Chick-fil-A
- Chipotle
- Circle K
- Citibank
- Citizens Bank
- CVS
- Dairy Queen
- DaVita
- Dollar General
- Dollar Tree
- Dunkin’
- Dutch Bros
- ExxonMobil
- Family Dollar
- FedEx
- Fifth Third Bank
- Firestone
- Food Lion
- Goodyear
- Harbor Freight
- Heartland Dental
- Home Depot
- IHOP
- JPMorgan Chase
- KeyBank
- Kohl’s
- Kroger
- Labcorp
- LongHorn Steakhouse
- McDonald’s
- Mister Car Wash
- NAPA Auto Parts
- O’Reilly Auto Parts
- Olive Garden
- Outback Steakhouse
- Petco
- Planet Fitness
- PNC Bank
- Popeyes
- Sheetz
- Sherwin-Williams
- Starbucks
- T-Mobile
- Taco Bell
- Target
- TD Bank
- TJ Maxx
- Tractor Supply
- Truist
- U.S. Bank
- Valero
- Valvoline
- Verizon
- Walgreens
- Walmart
- Wawa
- Wells Fargo
- Wendy’s
Using NNN Property in a 1031 Exchange
A net lease property can be replacement property in a 1031 exchange when it is real property held for investment or business use and the exchange follows the rules: a qualified intermediary holds the proceeds, replacement property is identified within 45 days, and it is acquired by the earlier of 180 days after the sale or your tax return due date, including extensions.
- For exchange buyers: identify properties that can realistically close in time and pass lender, accountant, and intermediary review.
- For direct buyers: compare tenant credit, guaranty, lease obligations, rent increases, cap rate, and the property’s value to another user.
- Under deadline pressure: line up backup identification options before day 45.
In a 1031 Window?
Send your sale date, day-45 deadline, equity, debt target, preferred tenants, geography, cap rate floor, and risk limits, and we will compare replacement options. Start the 1031 replacement-property intake or contact Investment Grade.
NNN Properties: Frequently Asked Questions
What is a triple net (NNN) lease?
A lease in which the tenant pays base rent plus property taxes, building insurance, and maintenance. It shifts most property expenses to the tenant, though owners still monitor the tenant’s performance of those obligations.
What is the difference between NN, NNN, and absolute NNN leases?
In a double net (NN) lease the tenant pays taxes and insurance and the landlord usually keeps roof, structure, or other maintenance. In a triple net lease the tenant also pays maintenance. In an absolute NNN or bondable lease the tenant is responsible for essentially all costs, including roof and structure, and has fewer rights to terminate or reduce rent.
Which NNN tenants are investment grade?
Tenants rated BBB‑ or higher by S&P or Fitch, or Baa3 or higher by Moody’s. Examples include 7-Eleven, Inc. (A-/Baa2), McDonald’s (BBB+/Baa1), Starbucks (BBB+/Baa1), Dollar General (BBB/Baa3), CVS Health (BBB/Baa3), AutoZone (BBB/Baa1), and Walmart (AA/Aa2). A rating applies to a lease only if the rated company signs or guarantees it. See the tenant ratings database.
What cap rates are NNN properties asking now?
As of October 16, 2026, the median asking cap rate across 6,750 active listings InvestmentGrade.com tracks is 6.35%, with the middle half between 5.75% and 7.13%. Pricing varies with tenant credit, lease term, rent increases, and location.
How does Investment Grade work with buyers and owners?
We represent buyers and 1031 exchange investors on acquisitions, and owners on dispositions, including co-listed sales and off-market sales to REITs, private equity funds, and family offices, plus sale-leasebacks. On the majority of acquisitions, there is no separate fee to you as the buyer; where a cooperating commission is not available, compensation is agreed in writing in advance.
Educational content only. InvestmentGrade.com is a commercial real estate brokerage and educational publisher. We do not sell, broker, underwrite, or solicit any bonds, securities, or investment products. Yields, ratings, and prices referenced fluctuate continuously and are sourced from public market data as of the date noted. Nothing on this page constitutes investment advice, an offer to sell, or a solicitation to buy any security. Consult a licensed broker-dealer, registered investment advisor, or tax professional before making any investment decision. For SEC investor education, visit investor.gov.