Looking to buy a TD Bank NNN property? 5 are observed for sale across 4 states, median asking cap rate 5.00%. View TD Bank NNN properties for sale, cap rate bands and the 1031 buyer guide.
| S&P Rating (issuer credit, parent) | A+ (Stable) |
| Moody’s Rating (deposits and counterparty, parent) | Aa1 (Stable) |
| IG Status | Holding company Rated Investment Grade (The Toronto-Dominion Bank); confirm the lease guarantor |
| US Locations | 1,100 U.S. retail stores (October 31, 2025, Form 40-F) |
| Annual Revenue | US$8.8B U.S. Retail revenue, fiscal 2025 (reported, Form 40-F) |
| Median asking cap rate | See the live table below |
| Typical Lease Term | Varies; confirm in the lease |
| Property Size | Varies; median 2,960 SF on the TD Bank listings we track |
| Lot Size | Varies by site; confirm from the survey |
Business Overview
TD Bank, N.A. is a U.S. bank subsidiary of The Toronto-Dominion Bank (TD Bank Group). TD’s U.S. Retail segment had 1,100 U.S. retail stores as of October 31, 2025 and reported revenue of US$8.8 billion for fiscal 2025 (Form 40-F). TD Bank serves retail and commercial customers in stores from Maine to Florida.
TD Bank’s parent, The Toronto-Dominion Bank, is rated investment grade, and TD’s October 2024 anti-money-laundering resolution, described below, is part of the credit picture.
For investors evaluating NNN properties, understanding tenant creditworthiness and operational performance is essential. Our comprehensive NNN investing guide covers lease structures, tenant evaluation, and portfolio construction strategies for maximizing risk-adjusted returns.
Credit Rating
TD Bank’s parent, The Toronto-Dominion Bank, is rated investment grade:
Source: S&P Global Ratings A+, Stable, as of July 31, 2026; Moody’s Aa1, Stable, as of July 31, 2026; Fitch Ratings AA-, as of June 3, 2026. Ratings checked October 8, 2026.
- S&P issuer credit rating: A+ (Stable)
- Moody’s long-term deposits and counterparty risk rating: Aa1 (Stable) (Moody’s rates TD’s bail-in senior debt separately)
- Assessment: Investment grade parent credit; confirm which TD entity signs or guarantees the lease
The A+/Aa1 ratings shown are those of the parent, The Toronto-Dominion Bank: S&P’s issuer credit rating and Moody’s long-term deposits and counterparty risk rating, which is a different rating type from an issuer or senior debt rating (TD credit ratings page, information as of July 31, 2026). TD Bank, N.A., a U.S. bank subsidiary, is rated separately, so confirm which entity signs or guarantees each lease.
Financial Performance & Operational Metrics
TD’s U.S. Retail segment reported revenue of US$8.8 billion for fiscal 2025 (year ended October 31, 2025), within total TD Bank Group reported revenue of C$67.8 billion (Form 40-F). With 1,100 U.S. retail stores at that date, TD Bank has a substantial U.S. presence.
For TD Bank, credit assessment should account for its October 2024 anti-money-laundering resolution with US authorities: TD Bank, N.A. and TD Bank US Holding Company pleaded guilty, TD made a total payment of US$3.088 billion, and the OCC limited the average combined total assets of TD’s two U.S. banks to US$434 billion, a limitation TD’s report for the quarter ended July 31, 2026 still references. Review the U.S. regulatory orders alongside the parent’s ratings. Investors should review regulatory filings, quarterly earnings reports, and management commentary as part of standard due diligence. Our investment grade guide outlines key metrics for assessing tenant credit quality.
NNN Property Details & Economics
TD Bank NNN property details vary by site:
- Property Size: a median building size of 2,960 SF on the TD Bank listings we track
- Lot Size: varies by site
- Lease Term: varies; confirm the initial term and renewal options in the lease
Rent increases vary by lease; as of October 8, 2026, the TD Bank listings InvestmentGrade.com tracks that state them included 10% every five years and 2.5% annually, so confirm the rent schedule and renewal terms in the lease.
Lease Structure & Tenant Obligations
A triple-net (NNN) lease generally allocates operating expenses, property taxes and insurance to the tenant. The split of maintenance, repair and occupancy costs between landlord and tenant varies, so confirm it in each lease. Investors should review specific lease agreements to understand:
- Rent escalation clauses and frequency
- Property maintenance and repair obligations
- Property tax payment responsibility
- Insurance coverage requirements
- Lease renewal options and terms
- Default and remedies provisions
Lease terms vary, so review each lease on its own terms.
Geographic & Market Considerations
TD Bank operates stores in U.S. markets from Maine to Florida (Form 40-F for fiscal 2025). Property locations should be evaluated based on:
- Market demographics – population density, income levels, business activity
- Banking competition – proximity to other banks and financial institutions
- Economic trends – regional business activity, employment stability, population trends
- Strategic positioning – visibility, accessibility, commercial area strength
Tenant credit does not replace market fundamentals, so evaluate each site on its own.
Investment Grade Credit Rating Standards
Investment-grade status requires S&P ratings of BBB- or higher, or Moody’s ratings of Baa3 or higher. The parent’s A+/Aa1 ratings are above these thresholds. When an investment-grade entity signs or guarantees the lease, a property may see:
- Potentially broader buyer interest, depending on the property and lease
- Resale prospects that still depend on the property, the lease and the market at the time of sale
- Financing options, though loan availability and pricing depend on the lender, property, lease and market conditions
- Possible eligibility for investment-grade-focused mandates, subject to each mandate’s rules and the actual lease obligor or guarantor
Investors considering TD Bank NNN properties should note that these are the parent’s investment grade ratings and confirm which entity signs or guarantees the lease.
Risk Assessment & Due Diligence
IG bank tenants still warrant full due diligence. Key areas to review include:
- Regulatory standing – capital ratios, stress test results, regulatory ratings
- Asset quality – loan loss provisions, non-performing assets, credit metrics
- Deposit trends – customer deposit growth, deposit mix stability
- Net interest margin – NIM trends, rate environment sensitivity
- Management quality – leadership track record, strategic direction
- Lease quality – property condition, market position, lease enforceability
- Environmental & legal – Phase I ESA, title insurance, encumbrances
An investment grade rating does not replace property-level due diligence, and TD’s U.S. regulatory orders belong in the credit review.
Comparison to Investment-Grade Alternatives
Bank ratings are comparable only when they cover the same kind of entity and the same rating type. The ratings on this page are the parent’s S&P issuer credit rating and Moody’s deposits and counterparty rating. Other bank pages show different entities and rating types: US Bank (U.S. Bancorp holding-company issuer ratings), Truist (Truist Bank issuer ratings), PNC Bank (PNC Bank, N.A.; S&P issuer and Moody’s senior debt ratings) and Capital One (rated entity and rating type on its page). Check the rated entity, rating type and date on each page before comparing.
Our tenant rating directory lists the ratings on file for the NNN tenants we cover.
TD Bank NNN Cap Rates
Live asking cap rates for TD Bank and comparable tenants:
| Tenant | S&P / Moody’s | Median asking cap rate | Middle half of listings | Listings | Median vs. 10-year Treasury |
|---|---|---|---|---|---|
| TD Bank | A+ / Aa1 | 5.00% | 5.00% to 5.25% | 5 | −24 bps |
| PNC Bank | A / A2 | 5.10% | 4.75% to 6.25% | 21 | −14 bps |
| U.S. Bank | A / A3 | 5.59% | 5.19% to 6.00% | 8 | +35 bps |
| Truist | A / A3 | 6.21% | 5.68% to 6.56% | 4 | +97 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 16, 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: Capital One.
Frequently Asked Questions
Is TD Bank investment-grade?
Yes. TD Bank’s parent, The Toronto-Dominion Bank, has an S&P issuer credit rating of A+ and a Moody’s long-term deposits and counterparty risk rating of Aa1 (investment grade). TD Bank, N.A. is rated separately; confirm which entity signs or guarantees the lease.
What cap rates do TD Bank NNN properties offer?
Current median asking cap rates for TD Bank and comparable tenants are shown in the live table on this page. Confirm whether an advertised cap rate uses current rent or a scheduled future rent. Pricing for a specific property depends on the remaining lease term, rent level, location and lease guarantor, and asking cap rates are not closed-sale cap rates.
How many TD Bank locations exist in the US?
TD Bank had 1,100 U.S. retail stores as of October 31, 2025, in markets from Maine to Florida (Form 40-F).
What is the typical lease term for TD Bank NNN properties?
Initial terms and renewal options vary by lease. Specific lease terms should be verified in individual lease agreements.
What due diligence should I conduct on TD Bank properties?
Conduct standard due diligence: review regulatory filings and capital ratios, verify lease terms, commission Phase I environmental assessments, and analyze property condition and market position.
Contact & Resources
For questions about TD Bank NNN properties or investment-grade tenant evaluation, contact our team. We also provide resources on 1031 exchange planning and portfolio construction strategies.
TD Bank Net Lease Property: Buying, Selling and Financing
Buying: We find on-market and off-market TD Bank 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
TD Bank in a 1031 exchange: parent credit still needs branch-level diligence
TD Bank’s parent is rated investment grade, but 1031 buyers should first confirm which TD entity signs or guarantees the lease, then compare the specific branch’s lease term, deposit-market position, real estate reusability, rent schedule, and cap-rate spread against peer bank tenants.
Use this page with the best investment-grade NNN tenants for a 1031 exchange shortlist and the 2026 NNN cap-rate framework to compare TD Bank against broader replacement-property choices.
Deadline buyer note: the parent’s ratings help with the credit screen only if a rated TD entity signs or guarantees the lease, and the exchange decision still turns on lease control, debt fit, market liquidity, and exit value.
TD Bank NNN Properties Observed For Sale
5 active TD Bank net lease listings observed across public listing sources, most recently Oct 16, 2026. Asking figures as published by the listing party.
| Location | Asking Price | Cap Rate | Building SF | Term Left | |
|---|---|---|---|---|---|
| Portland, ME | $2,676,053 | 5.25% | 3,000 | 9.8 yrs | View listing |
| Bowie, MD | $4,242,500 | 8.00% | 2,838 | 5.3 yrs | View listing |
| Raleigh, NC | $4,750,000 | 5.00% | 2,500 | n/a | View listing |
| Miami, FL | $9,196,000 | 5.00% | 2,960 | 7.1 yrs | View listing |
| Davie, FL | $5,845,600 | 5.00% | 4,449 | 6.0 yrs | View listing |
Search all 5 observed TD Bank listings and the full NNN inventory
Market observations aggregated from listing broker materials; not offerings by Investment Grade Income Property, LP. Buyer representation available on a cooperating commission basis. Information deemed reliable but not guaranteed.
