Investment Grade
Auto Parts & Service Net Lease
Auto parts and auto service NNN tenant investment analysis: AutoZone, O’Reilly, Advance Auto Parts, Take 5, Valvoline cap rates and lease structure.
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QSR and Auto Service NNN Bonus Depreciation: Tier 2 Equipment-Heavy Properties
18th April 2026 | by the Investment Grade Team
QSR drive-throughs, lube centers, and collision repair NNN properties deliver 35% to 60% cost segregation reclassification. Equipment breakdown, worked examples, and the Tier 2 inventory advantage over car washes and gas stations.
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Advance Auto Parts Credit Rating & NNN Cap Rate
18th April 2026 | by the Investment Grade Team
Metric Details Parent Company Advance Auto Parts, Inc. S&P Rating / Outlook BB / Negative (Downgraded July 2025) Moody’s Rating / Outlook Ba3 / Negative (Downgraded July 2025) Investment Grade Status Non-Investment Grade / High Yield (as of July 2025) Sector Auto Parts Retail US Locations ~4,800 (declining from store rationalization) Cap Rate Range 6.5–8.0%…
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AutoZone Credit Rating & NNN Cap Rate Analysis
18th April 2026 | by the Investment Grade Team
Tenant AutoZone Inc. Credit Rating BBB/Baa2 Total US Locations 6,300 Typical Cap Rate Range 5.75‑6.75% Lease Structure 15-year absolute NNN Corporate Guarantee Corporate guarantee standard Typical Deal Size $1.5‑3.5M Business Overview AutoZone Inc. operates 6,300 aftermarket automotive parts and accessories locations across the United States, positioning itself as the dominant independent auto parts retailer. With…
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O’Reilly Auto Parts Credit Rating & NNN Cap Rate
18th April 2026 | by the Investment Grade Team
Parent Company O’Reilly Automotive, Inc. S&P/Moody’s Rating BBB+/Baa1 Sector Auto Parts US Locations 6,100 Cap Rate Range 5.75–6.75% Typical Lease Term 15 years Guarantee Type Corporate Stock Ticker ORLY (NASDAQ) Annual Revenue $16.3B (FY2024) Typical Price Range $1.5M–$3.2M O’Reilly Auto Parts Business Overview & NNN Investment Profile O’Reilly Automotive operates as the leading investment grade…
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Goodyear Credit Rating & NNN Cap Rate
18th April 2026 | by the Investment Grade Team
Company Goodyear Parent The Goodyear Tire & Rubber Company Ticker GT Sector Auto Service S&P Rating Non-Investment Grade / High Yield Moody’s Rating B1 US Locations ~1000 Revenue $19.5B Cap Rate Range 6.25% – 7.25% Lease Term 15 years Building SF 6000-8000 Lot Size 0.5-1.5 acres Lease Type NNN Guarantee Corporate Business Overview Goodyear operates…
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Firestone Credit Rating & NNN Cap Rate
18th April 2026 | by the Investment Grade Team
Company Firestone Complete Auto Care Parent Guarantor Bridgestone Corporation (TSE: 5108) Operating Entity Bridgestone Retail Operations, LLC Sector Auto Service S&P Rating BBB+ (Bridgestone Corporation) Moody’s Rating A3 (Bridgestone Corporation) US Locations ~2,200 corporate-owned Global Revenue ~$32B (Bridgestone Corporation) Cap Rate Range 6.0% – 7.0% Typical Lease Term 15 years NNN Building SF 6,000 –…
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Valvoline Credit Rating & NNN Cap Rate
18th April 2026 | by the Investment Grade Team
Company Valvoline Parent Valvoline Inc. Ticker VVV Sector Auto Service S&P Rating BB Moody’s Rating Ba2 US Locations ~1900 Revenue $1.6B Cap Rate Range 5.5% – 6.5% Lease Term 15 years Building SF 1800-2500 Lot Size 0.5-1.0 acres Lease Type NNN Guarantee Mixed (corporate and franchisee) Business Overview Valvoline operates approximately 1900 locations across the…
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