819 quick-service restaurant net lease properties are observed for sale across 45 states as of October 26, 2026, at a median asking cap rate of 5.51%. 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 3.50% to 11.50%, with the middle half of listings between 5.00% and 6.00% across 14 tenants. Median asking price $2.62M. Average remaining lease term 12.7 years among 305 listings that state a term. 198 listings report a 2026 build year. Figures update automatically from publicly marketed offerings and broker materials.
QSR NNN Properties For Sale: Latest Listings
Up to twenty-four single-tenant quick-service 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 | |
|---|---|---|---|---|---|---|---|---|
| Chipotle | Miamisburg, OH | $3,339,000 | 5.25% | $175,298 | n/a | 2026 | Not stated | Get full property data |
| Dutch Bros | Wilson, NC | $2,954,128 | 5.45% | $161,000 | n/a | 2026 | Not stated | Get full property data |
| Starbucks | Bradenton, FL | $2,900,525 | 6.08% | $176,352 | n/a | 2003 | Not stated | Get full property data |
| Popeyes | Joplin, MO | $1,833,333 | 6.00% | $110,000 | n/a | 2013 | Not stated | Get full property data |
| Burger King | South Charleston, WV | $2,200,000 | 5.24% | $115,315 | n/a | 2026 | Not stated | Get full property data |
| Chick-fil-A | Mobile, AL | $3,103,448 | 4.35% | $135,000 | n/a | 2026 | Not stated | Get full property data |
| Arby's | Louisville, KY | $2,000,000 | 5.77% | $115,500 | n/a | 1988 | Not stated | Get full property data |
| Sonic Drive-In | Osage City, KS | $1,100,000 | 9.06% | $99,620 | n/a | n/a | Not stated | Get full property data |
| Wendy's | Powder Springs, GA | $2,350,000 | 5.63% | $132,300 | n/a | n/a | Not stated | Get full property data |
| Taco Bell | Camilla, GA | $1,988,888 | 6.10% | $121,464 | n/a | n/a | Not stated | Get full property data |
| McDonald's | Longwood, FL | $2,294,828 | 4.35% | $99,825 | n/a | 2012 | Not stated | Get full property data |
| Dunkin' | Derby, KS | $1,600,000 | 6.60% | $105,600 | n/a | 2019 | Not stated | Get full property data |
| Tim Hortons | Columbus, OH | $1,739,000 | 5.75% | $100,000 | n/a | 2001 | Not stated | Get full property data |
| Dairy Queen | Espanola, NM | $925,000 | 7.00% | $64,744 | n/a | n/a | Not stated | Get full property data |
| Popeyes | Sanford, NC | $2,385,180 | 6.09% | $145,324 | n/a | 2021 | Not stated | Get full property data |
| Burger King | Tallahassee, FL | $1,900,922 | 5.75% | $109,303 | n/a | 1989 | Not stated | Get full property data |
| Chipotle | Marana, AZ | $4,536,000 | 4.85% | $220,000 | n/a | 2026 | Not stated | Get full property data |
| Dutch Bros | Spartanburg, SC | $2,910,000 | 5.60% | $163,000 | n/a | 2026 | Not stated | Get full property data |
| Sonic Drive-In | Kemp, TX | $1,769,231 | 6.50% | $115,000 | n/a | 2008 | Not stated | Get full property data |
| Arby's | Little Falls, MN | $1,873,820 | 6.75% | $126,482 | n/a | 2009 | Not stated | Get full property data |
| Starbucks | Reno, NV | $3,215,000 | 5.35% | $172,000 | n/a | 2026 | Not stated | Get full property data |
| Wendy's | Winter Park, FL | $3,500,000 | 4.24% | $148,500 | n/a | 2020 | Not stated | Get full property data |
| Taco Bell | Calcutta, OH | $3,412,178 | 6.15% | $209,849 | n/a | n/a | Not stated | Get full property data |
| Chick-fil-A | Azle, TX | $3,467,000 | 3.75% | $130,000 | n/a | 2026 | Not stated | Get full property data |
Showing 24 of 819 observed QSR 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 QSR 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 | |
|---|---|---|---|---|---|---|
| Starbucks | 121 | 34 | 5.75% | 4.25% to 7.00% | $2.84M | Starbucks NNN for sale |
| Dutch Bros | 103 | 22 | 5.50% | 4.50% to 6.15% | $2.93M | Dutch Bros NNN for sale |
| Chipotle | 93 | 30 | 5.00% | 4.00% to 6.75% | $3.60M | Chipotle NNN for sale |
| Popeyes | 80 | 27 | 6.00% | 4.50% to 9.00% | $2.39M | Popeyes NNN for sale |
| Wendy's | 80 | 30 | 6.00% | 3.50% to 7.94% | $2.34M | Wendy's NNN for sale |
| Burger King | 75 | 28 | 6.25% | 4.00% to 8.29% | $2.04M | Burger King NNN for sale |
| Taco Bell | 52 | 21 | 5.50% | 4.00% to 6.50% | $2.51M | Taco Bell NNN for sale |
| McDonald's | 49 | 24 | 4.00% | 3.50% to 5.25% | $3.00M | McDonald's NNN for sale |
| Arby's | 44 | 20 | 6.00% | 4.68% to 11.50% | $1.90M | Arby's NNN for sale |
| Chick-fil-A | 41 | 22 | 4.23% | 3.75% to 5.25% | $3.90M | Chick-fil-A NNN for sale |
| Sonic Drive-In | 39 | 13 | 6.35% | 5.20% to 9.06% | $1.85M | Sonic Drive-In NNN for sale |
| Dunkin' | 25 | 11 | 5.78% | 4.65% to 6.76% | $1.91M | Dunkin' NNN for sale |
| Dairy Queen | 14 | 11 | 5.79% | 5.16% to 7.41% | $1.68M | Dairy Queen NNN for sale |
| Tim Hortons | 3 | 1 | 6.05% | 5.75% to 7.00% | $1.70M | Tim Hortons 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 QSR NNN Properties Are For Sale
| State | Listings | Avg Cap Rate | Avg Asking Price |
|---|---|---|---|
| FL | 89 | 5.16% | $3.45M |
| TX | 89 | 5.06% | $2.87M |
| GA | 44 | 5.95% | $2.52M |
| CA | 40 | 5.09% | $3.37M |
| IL | 39 | 5.88% | $2.43M |
| NC | 36 | 5.57% | $2.60M |
| OH | 34 | 5.84% | $2.35M |
| AL | 31 | 5.96% | $2.42M |
| TN | 27 | 5.57% | $2.55M |
| MI | 27 | 6.26% | $2.03M |
| SC | 26 | 5.80% | $2.53M |
| IN | 25 | 5.66% | $2.67M |
States with the most QSR listings observed. Averages are simple means of published asking figures.
How to Evaluate a QSR Net Lease Property
In quick-service restaurant net lease, start with who signs the lease. A corporate lease from the brand and a lease signed by a franchisee entity with a personal or multi-unit guarantee are different credits even when the sign on the building is identical. Confirm in the lease who the tenant entity is, what guarantees it, and whether the guarantee burns off.
Next, look at the real estate itself. A drive-thru, a hard corner, and a ground lease versus a fee simple building each change what you own if the operator leaves. Ask for store-level sales where the lease requires reporting, and treat rent as a share of sales as a key health check.
Then review the lease structure: remaining primary term, rent escalations in the base term and in the options, and landlord responsibilities. QSR leases vary: some are absolute net, others keep roof and structure with the landlord, so confirm in the lease which applies. The cap rate on a flyer does not show these terms.
For the credit side of each tenant, start with the QSR NNN cap rate and tenant credit analysis and the investment grade credit tenant ratings table.
1031 Exchange Buyers and QSR NNN
QSR net lease can suit exchange buyers because price points vary and some leases are signed by the brand. Identify more than one candidate within the 45-day identification period and verify the guarantor on each before you commit. 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: QSR NNN Properties For Sale
How many QSR NNN properties are for sale right now?
As of October 26, 2026, 819 single-tenant quick-service restaurant net lease properties are observed for sale across 45 states and 14 tenants. The count updates automatically as listings are added and withdrawn.
What cap rates are QSR NNN properties asking?
The median asking cap rate across observed quick-service restaurant listings is 5.51%, with the middle half of listings between 5.00% and 6.00% and a full range of 3.50% to 11.50%. Cap rates vary by tenant, guarantee, remaining term and location; confirm the lease before relying on any single figure.
Which tenant has the most QSR listings on the market?
Starbucks currently has the most observed listings in the category, at 121. The tenant table above shows every tenant in the category with live inventory.
Which states have the most QSR NNN properties for sale?
The states with the most observed quick-service restaurant listings right now are FL, TX, GA. The state table above lists the top states with average asking cap rate and price.
What is the typical asking price for QSR NNN properties?
The median asking price across observed quick-service restaurant listings is $2.62M, with a range of $0.41M to $14.58M. 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)
- Casual Dining NNN properties for sale (108 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.
