Investment Grade
NNN Tenant Profiles
Investment grade analysis and cap rate data for all major NNN net lease tenants. InvestmentGrade.com covers 200+ tenants across QSR, pharmacy, dollar stores, banking, industrial, and all commercial real estate sectors.
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IHOP Credit Rating & NNN Cap Rate Analysis
20th April 2026 | by the Investment Grade Team
Metric Details Entity / Legal Name IHOP, LLC (subsidiary of Dine Brands Global, Inc.) Parent Company Dine Brands Global, Inc. (NYSE: DIN) S&P / Moody‑s Rating B+ / B1 Rating Outlook Stable Investment Grade Status Non‑Investment Grade — Speculative Sector Restaurant / Family Dining US Location Count ~1,800+ restaurants (99% franchised) Cap Rate Range 6.50%…
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Applebee’s Credit Rating & NNN Cap Rate Analysis
20th April 2026 | by the Investment Grade Team
Metric Details Entity / Legal Name Applebee’s Restaurants LLC (subsidiary of Dine Brands Global, Inc.) Parent Company Dine Brands Global, Inc. (NYSE: DIN) S&P / Moody‑s Rating B+ / B1 Rating Outlook Stable Investment Grade Status Non‑Investment Grade — Speculative Sector Restaurant / Casual Dining Headquarters Pasadena, California (Dine Brands HQ) US Location Count ~1,550+…
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LongHorn Steakhouse Credit Rating & NNN Cap Rate Analysis
20th April 2026 | by the Investment Grade Team
Metric Details Entity / Legal Name GMRI, Inc. d/b/a LongHorn Steakhouse (subsidiary of Darden Restaurants) Parent Company Darden Restaurants, Inc. (NYSE: DRI) S&P / Moody‑s Rating BBB / Baa2 Rating Outlook Stable Investment Grade Status Investment Grade Sector Restaurant / Casual Dining (Steakhouse) Headquarters Orlando, Florida (Darden HQ) US Location Count ~580+ restaurants Cap Rate…
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Chili’s Grill & Bar Credit Rating & NNN Cap Rate Analysis
20th April 2026 | by the Investment Grade Team
Metric Details Entity / Legal Name Chili’s Grill & Bar (operated by Brinker International, Inc.) Parent Company Brinker International, Inc. (NYSE: EAT) S&P / Moody‑s Rating BB+ / Ba1 Rating Outlook Stable (S&P) / Negative (Moody‑s) Investment Grade Status Non‑Investment Grade — Speculative (one notch below IG) Sector Restaurant / Casual Dining Headquarters Dallas, Texas…
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Wendy’s Credit Rating & NNN Cap Rate Analysis
20th April 2026 | by the Investment Grade Team
Metric Details Entity / Legal Name Wendy’s International, LLC (subsidiary of The Wendy’s Company) Parent Company The Wendy’s Company (NYSE: WEN) S&P / Moody‑s Rating B / Ba3 Rating Outlook Stable Investment Grade Status Non‑Investment Grade — Speculative Sector Restaurant / Quick Service (QSR) Headquarters Dublin, Ohio US Location Count ~5,700+ restaurants Global Location Count…
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Burger King Credit Rating & NNN Cap Rate Analysis
20th April 2026 | by the Investment Grade Team
Metric Details Entity / Legal Name Burger King Corporation (subsidiary of Restaurant Brands International Inc.) Parent Company Restaurant Brands International Inc. (NYSE: QSR) S&P / Moody‑s Rating BB / Ba3 Rating Outlook Positive (S&P) / Stable (Moody‑s) Investment Grade Status Non‑Investment Grade — Speculative Sector Restaurant / Quick Service (QSR) Headquarters Miami, Florida (RBI HQ:…
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Olive Garden Credit Rating & NNN Cap Rate Analysis
20th April 2026 | by the Investment Grade Team
Metric Details Entity / Legal Name GMRI, Inc. d/b/a Olive Garden (subsidiary of Darden Restaurants, Inc.) Parent Company Darden Restaurants, Inc. (NYSE: DRI) S&P / Moody‑s Rating BBB / Baa2 Rating Outlook Stable (both agencies) Investment Grade Status Investment Grade Sector Restaurant / Casual Dining Headquarters Orlando, Florida (Darden HQ) US Location Count ~920 restaurants…
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Dairy Queen Credit Rating & NNN Cap Rate Analysis
20th April 2026 | by the Investment Grade Team
Metric Details Entity / Legal Name International Dairy Queen, Inc. (subsidiary of Berkshire Hathaway Inc.) Parent Company Berkshire Hathaway Inc. (NYSE: BRK.A / BRK.B) S&P / Moody‑s Rating (Parent) AA / Aa2 Rating Outlook Stable Investment Grade Status Investment Grade — High Grade Sector Restaurant / Quick Service (QSR) Headquarters Bloomington, Minnesota US Location Count…
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WellNow Urgent Care Credit Rating & NNN Cap Rate Analysis
20th April 2026 | by the Investment Grade Team
Metric Details Entity / Legal Name WellNow Urgent Care (Optum / UnitedHealth Group partnership) Strategic Partner Optum (UnitedHealth Group, NYSE: UNH) S&P / Moody‑s Rating (UNH Parent) A+ / A3 Investment Grade Status Effective Investment Grade (via UnitedHealth Group partnership) Sector Healthcare / Urgent Care Headquarters Syracuse, New York US Location Count 180+ clinics in…
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NextCare Urgent Care Credit Rating & NNN Cap Rate Analysis
20th April 2026 | by the Investment Grade Team
Metric Details Parent / Legal Entity NextCare Holdings (parent operating entity) S&P / Moody‑s / Fitch Not rated (private company, no public debt) Investment Grade Status Not Rated — Private Equity-Backed Multi-State Chain Sector Healthcare — Mid-Market Metro Urgent Care Ownership Private — Enhanced Healthcare Partners + management (PE-backed since 2021) US Location Count ~170…
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