108 casual dining restaurant net lease properties are observed for sale across 30 states as of October 23, 2026, at a median asking cap rate of 6.00%. Investment Grade Research tracks each one across publicly marketed offerings and broker materials, checks every tenant against the investment grade threshold, and publishes the observations here: which tenants are on the market, what they are asking, how pricing breaks down by tenant and state, and how an acquisition or 1031 exchange buyer should work through it.
Asking cap rates run from 4.75% to 9.50%, with the middle half of listings between 5.50% and 6.73% across 8 tenants. Median asking price $3.00M. Average remaining lease term 7.6 years among 54 listings that state a term. 11 listings report a 2026 build year. Figures update automatically from publicly marketed offerings and broker materials.
Casual Dining NNN Properties For Sale: Latest Listings
Up to twenty-four single-tenant casual dining restaurant properties with published pricing, the newest from each tenant first so every tenant in the category is represented. Open any listing and register for full property data, including the address, location map and an IG summary with due diligence questions.
| Tenant | Location | Asking Price | Cap Rate | NOI | Term Left | Built | Lease | |
|---|---|---|---|---|---|---|---|---|
| LongHorn Steakhouse | Saraland, AL | $3,245,614 | 5.70% | $185,000 | n/a | 2026 | Not stated | Get full property data |
| Applebee's | Kissimmee, FL | $3,500,000 | 5.54% | $193,810 | n/a | 2006 | Not stated | Get full property data |
| IHOP | Dallas, TX | $3,500,000 | 6.51% | $227,918 | n/a | 2007 | Not stated | Get full property data |
| Buffalo Wild Wings | Brooklyn, OH | $3,000,000 | 6.00% | $180,000 | n/a | 2002 | Not stated | Get full property data |
| Olive Garden | Kansas City, KS | $5,000,000 | 5.50% | $275,000 | n/a | 2009 | Not stated | Get full property data |
| Chili's | Franklin, IN | $2,528,909 | 5.50% | $138,090 | n/a | 2006 | Not stated | Get full property data |
| Outback Steakhouse | Des Plaines, IL | $3,000,000 | 6.00% | $180,000 | n/a | 2024 | Not stated | Get full property data |
| Carrabba's Italian Grill | Spring, TX | $4,382,000 | 6.50% | $284,844 | n/a | 1994 | Not stated | Get full property data |
| LongHorn Steakhouse | Las Cruces, NM | $3,300,000 | 5.00% | $165,000 | n/a | n/a | Not stated | Get full property data |
| Applebee's | Reading, PA | $2,061,000 | 6.75% | $139,089 | n/a | 2007 | Not stated | Get full property data |
| Buffalo Wild Wings | Cuyahoga Falls, OH | $4,200,000 | 6.00% | $252,000 | n/a | 2023 | Not stated | Get full property data |
| IHOP | Kannapolis, NC | $2,960,000 | 6.25% | $185,000 | n/a | 1998 | Not stated | Get full property data |
| Olive Garden | Oregon, OH | $2,621,359 | 5.15% | $135,000 | n/a | 2026 | Not stated | Get full property data |
| Outback Steakhouse | Lutz, FL | $3,761,905 | 5.25% | $197,500 | n/a | 2025 | Not stated | Get full property data |
| Chili's | Stevens Point, WI | $1,993,000 | 5.50% | $109,610 | 5.9 yrs | 2007 | Absolute NNN | Get full property data |
| Carrabba's Italian Grill | Canton, MI | $3,493,200 | 6.65% | $232,295 | 5.7 yrs | 2002 | Absolute NNN | Get full property data |
| Applebee's | Avon, IN | $1,991,176 | 6.25% | n/a | n/a | 2008 | Not stated | Get full property data |
| Buffalo Wild Wings | Findlay, OH | $3,500,000 | 6.00% | $210,000 | n/a | 2003 | Not stated | Get full property data |
| LongHorn Steakhouse | Georgetown, TX | $5,000,000 | 5.50% | $275,000 | n/a | 2012 | Not stated | Get full property data |
| IHOP | Westminster, CO | $3,411,566 | 6.00% | $204,694 | n/a | 2000 | Not stated | Get full property data |
| Olive Garden | Humble, TX | $4,759,000 | 6.00% | $285,507 | n/a | 1986 | Not stated | Get full property data |
| Outback Steakhouse | Waco, TX | $2,148,725 | 6.75% | $145,039 | n/a | 1996 | Not stated | Get full property data |
| Chili's | Denton, TX | $3,157,000 | 5.40% | $170,500 | 10.0 yrs | 1986 | NNN | Get full property data |
| Carrabba's Italian Grill | Waldorf, MD | $5,387,800 | 6.65% | $358,285 | 5.7 yrs | 2007 | Absolute NNN | Get full property data |
Showing 24 of 108 observed Casual Dining listings: the newest listing from each tenant first, then each tenant’s next newest, so every tenant with inventory appears. Listings without a published asking price and cap rate are not shown here.
Market observations aggregated from publicly marketed offerings and broker materials; not offerings by Investment Grade Income Property, LP. Asking price, cap rate and NOI as published by the offering party. Information deemed reliable but not guaranteed. Verify all figures before relying on them.
Tenants in the Casual Dining Category
Listing count, median asking cap rate and cap range by tenant. The spread between tenants inside one category is usually a story about lease guarantee, remaining term and building age, which is why each tenant page breaks its inventory down further.
| Tenant | Listings | States | Median Cap | Cap Range | Median Price | |
|---|---|---|---|---|---|---|
| Applebee's | 32 | 17 | 6.95% | 5.54% to 9.50% | $2.43M | Applebee's NNN for sale |
| IHOP | 18 | 11 | 6.38% | 5.00% to 9.03% | $2.44M | IHOP NNN for sale |
| LongHorn Steakhouse | 18 | 10 | 5.45% | 4.95% to 6.00% | $3.44M | LongHorn Steakhouse NNN for sale |
| Buffalo Wild Wings | 12 | 7 | 6.00% | 4.75% to 7.00% | $3.00M | Buffalo Wild Wings NNN for sale |
| Outback Steakhouse | 10 | 7 | 5.50% | 5.00% to 6.75% | $3.61M | Outback Steakhouse NNN for sale |
| Olive Garden | 8 | 7 | 5.50% | 4.75% to 7.00% | $3.63M | Olive Garden NNN for sale |
| Chili's | 6 | 5 | 5.50% | 4.75% to 6.87% | $2.97M | Chili's NNN for sale |
| Carrabba's Italian Grill | 4 | 4 | 6.65% | 6.50% to 6.65% | $4.07M | Carrabba's Italian Grill NNN for sale |
Tenants in this category with at least one qualifying listing. Tenants with a linked page carry its own listings, cap rate bands and state breakdown.
Where Casual Dining NNN Properties Are For Sale
| State | Listings | Avg Cap Rate | Avg Asking Price |
|---|---|---|---|
| TX | 16 | 6.21% | $3.40M |
| FL | 14 | 5.87% | $3.43M |
| OH | 8 | 5.86% | $3.00M |
| NC | 7 | 5.44% | $3.27M |
| IL | 6 | 7.50% | $2.05M |
| IN | 6 | 6.97% | $2.32M |
| MO | 6 | 6.79% | $2.03M |
| MI | 5 | 6.41% | $3.14M |
| AL | 5 | 5.80% | $3.78M |
| CA | 4 | 5.65% | $3.16M |
| SC | 4 | 6.56% | $3.00M |
| VA | 3 | 6.08% | $4.16M |
States with the most Casual Dining listings observed. Averages are simple means of published asking figures.
How to Evaluate a Casual Dining Net Lease Property
Casual dining buildings are often larger than QSR buildings and built around a dining room, kitchen and bar, which can narrow the list of operators who could take the space. That puts extra weight on the credit behind the lease and the sales-to-rent relationship. Confirm whether the tenant is the parent company or a franchisee and what the guarantee covers.
Look at the building through a second operator’s eyes. Kitchen build-out, parking ratio, patio and bar configuration each affect who could take the space and what rent they would pay. A lease with reporting rights can let you watch sales trends before they show up as a closure.
Check escalations, option structure and any early termination or co-tenancy language. Confirm in the lease whether roof, structure and parking lot are the tenant’s responsibility or yours.
For the credit side of each tenant, start with the investment grade credit tenant ratings table, and the credit rating and cap rate page linked from each tenant’s for-sale page.
1031 Exchange Buyers and Casual Dining NNN
Casual dining can fit a larger exchange balance in a single asset. Because a casual dining building can be harder to re-lease, exchange buyers should confirm sales reporting rights and the guarantee before identification. Replacement property must be identified within 45 days after the sale of the relinquished property and received by the earlier of 180 days after that sale or the due date, including extensions, of your tax return for that year (Internal Revenue Code Section 1031(a)(3); Treasury Regulation 1.1031(k)-1(b)(2)). This is general information, not tax advice; your qualified intermediary and CPA handle the exchange side. Our role is the property.
Frequently Asked Questions: Casual Dining NNN Properties For Sale
How many Casual Dining NNN properties are for sale right now?
As of October 23, 2026, 108 single-tenant casual dining restaurant net lease properties are observed for sale across 30 states and 8 tenants. The count updates automatically as listings are added and withdrawn.
What cap rates are Casual Dining NNN properties asking?
The median asking cap rate across observed casual dining restaurant listings is 6.00%, with the middle half of listings between 5.50% and 6.73% and a full range of 4.75% to 9.50%. Cap rates vary by tenant, guarantee, remaining term and location; confirm the lease before relying on any single figure.
Which tenant has the most Casual Dining listings on the market?
Applebee’s currently has the most observed listings in the category, at 32. The tenant table above shows every tenant in the category with live inventory.
Which states have the most Casual Dining NNN properties for sale?
The states with the most observed casual dining restaurant listings right now are TX, FL, OH. The state table above lists the top states with average asking cap rate and price.
What is the typical asking price for Casual Dining NNN properties?
The median asking price across observed casual dining restaurant listings is $3.00M, with a range of $1.16M to $7.00M. Price depends on rent, cap rate and lease structure, so compare within a tenant before comparing across the category.
Are these listings offered by Investment Grade?
No. These are market observations aggregated from publicly marketed offerings and broker materials, not offerings by Investment Grade Income Property, LP. Registering for full property data connects you with our team for buyer representation and due diligence; the listing broker remains the listing broker.
Other NNN Categories For Sale
- Restaurant NNN properties for sale (927 listings)
- QSR NNN properties for sale (819 listings)
- Pharmacy NNN properties for sale (513 listings)
- Dollar Store NNN properties for sale (798 listings)
- Bank Branch NNN properties for sale (140 listings)
- Auto Parts and Service NNN properties for sale (285 listings)
- Gas Station and C-Store NNN properties for sale (341 listings)
- Grocery and Big Box NNN properties for sale (43 listings)
- Healthcare NNN properties for sale (168 listings)
- Industrial and Logistics NNN properties for sale (217 listings)
- Car Wash NNN properties for sale (23 listings)
- All NNN properties for sale by tenant
Buying With 1031 Exchange Proceeds?
Compare this inventory with all 7,323 1031 exchange NNN properties for sale nationally, sorted by price band, tenant credit, remaining lease term and state. Then check your 1031 exchange deadlines: 45 days to identify replacement property and 180 days to close, or your tax return due date if that comes first.
