| Metric | Details |
|---|---|
| Entity / Legal Name | Verizon Communications Inc. |
| Stock Ticker | NYSE: VZ |
| S&P / Moody‑s Rating | BBB+ / Baa1 |
| Rating Outlook | Stable |
| Investment Grade Status | Investment Grade |
| Sector | Retail / Telecom |
| Headquarters | New York, New York |
| US Location Count | ~6,000+ retail stores (corporate + authorized) |
| Annual Revenue | ~$134 billion (FY 2024) |
| Cap Rate Range | 5.75% – 7.00% |
| Typical Lease Term | 10 – 15 years (NNN or NN) |
| Guarantee Type | Varies: Corporate (Verizon Communications) or authorized retailer |
| Typical Building Size | 2,500 – 5,000 SF |
| Typical Price Range | $1,800,000 – $6,000,000 |
Verizon Business Overview & NNN Investment Profile
Verizon Communications is the largest wireless carrier in the United States by revenue, generating approximately $134 billion annually and serving over 115 million wireless subscribers. The company operates approximately 6,000 retail locations nationwide, including both corporate-owned stores and authorized retailer locations. Verizon carries the strongest credit rating among the three major U.S. wireless carriers at BBB+/Baa1, one notch above AT&T (BBB/Baa2) and two notches above T-Mobile (BBB‑/Baa3).
Verizon’s NNN investment appeal rests on the essential-service nature of wireless connectivity and the company’s investment grade credit quality. Wireless service is no longer discretionary: it is infrastructure that consumers and businesses prioritize even during recessions. Corporate-guaranteed Verizon store leases backed by the $134 billion BBB+/Baa1 parent provide exceptional credit security for NNN investors. As with AT&T, the corporate vs. authorized retailer guarantee distinction is the most important underwriting factor.
Verizon’s BBB+/Baa1 credit rating is the strongest among U.S. wireless carriers, reflecting the company’s premium brand positioning, massive subscriber base, and leadership in 5G network deployment. The stable outlook signals confidence in Verizon’s ability to manage its debt load while investing in next-generation infrastructure.
Cap Rate Analysis & Pricing
Verizon NNN properties trade in the 5.75% to 7.00% cap rate range as of Q1 2026, slightly tighter than AT&T due to the stronger credit rating. Pricing typically ranges from $1.8 million to $6 million.
| Comparable Retail NNN Tenant | S&P / Moody‑s | Cap Rate Range |
|---|---|---|
| AT&T | BBB / Baa2 | 6.00% – 7.25% |
| T-Mobile | BBB‑ / Baa3 | 6.25% – 7.50% |
| Best Buy | BBB+ / A3 | 5.75% – 7.00% |
Yes. Verizon carries S&P BBB+ and Moody‑s Baa1 ratings, the highest among U.S. wireless carriers.
5.75% to 7.00% as of Q1 2026. Corporate stores trade tighter than authorized retailers.
Verizon (BBB+/Baa1) has the strongest credit, trading 25 to 50 bps tighter than AT&T (BBB/Baa2) and 50 to 75 bps tighter than T-Mobile (BBB‑/Baa3) on comparable terms.
Wireless retail stores remain essential for device upgrades, plan changes, technical support, and new customer acquisition. While some transactions migrate online, the in-store experience remains the primary channel for high-value customer interactions.
The Only Verizon NNN Advisor Whose Fee Comes From the Deal, Not From You
In NNN buyer representation, the listing broker typically pays a cooperating commission to the buyer’s broker. On the majority of transactions, this means there is no separate fee to you as the buyer. Where a cooperating commission is not available, our compensation is agreed upon with you in advance so there are never surprises.
Find It — Verizon NNN properties sourced with corporate vs. authorized retailer guarantee verification before you commit.
Fund It — BBB+/Baa1 investment grade telecom NNN attracts the most competitive permanent financing. We have 150+ lender relationships.
Exit It — Selling a Verizon property? The strongest-rated wireless carrier NNN commands premium buyer demand.
Get Your Free Verizon NNN Consultation →
In a 1031 exchange? Tell us your timeline — we move faster.
Related NNN Tenants
Own a Verizon Property? Capital Markets Strategies Beyond Selling
Maturing debt and considering refinancing? Our capital markets team maintains 150+ lender relationships underwriting NNN properties across investment-grade and non-investment-grade credit tiers. We structure rate-and-term refinancing, cash-out refis, and bridge-to-perm takeouts.
Evaluating a 1031 exchange or disposition? We represent both sides of Verizon NNN transactions — whether you are looking to exit at peak value, exchange into a higher-quality credit tenant, or reposition within the same sector.
Need a current valuation? We maintain live comps on Verizon NNN transactions and can produce a Broker Opinion of Value within 48 hours reflecting today’s cap rate market.
Own multiple Verizon properties? Considering an off-market sale?
Investment Grade represents owners on confidential disposition of Verizon portfolios and individual properties through off-market direct-to-principal distribution to specialty REITs, private equity funds, and family offices. Verizon buyer demand runs deep, and portfolio sales consistently produce stronger pricing than sequential individual sales because the institutional buyer pool is structured around portfolio acquisition.
For multi-property owners considering a portfolio disposition, see Selling Investment Grade NNN Off-Market: Tenant-by-Tenant Buyer Demand. For the full off-market framework covering individual property dispositions, sale-leasebacks, and 1031 coordination, see Off-Market CRE Sales: The Complete 2026 Guide.
The pre-listing conversation is at no cost and fully confidential. Email team@investmentgrade.com or see contact Investment Grade.
