NNN Power 150
The definitive ranking of 150 top NNN tenants by credit quality, investment demand, and lease strength.
Total Tenants
150
Sectors
12
Last Updated
Q4 2025
Green Street CPPI
142.5
↑ +3.8% YoY
NCREIF NPI
298.7
↑ +2.1% YoY
Moody's/RCA CPPI
186.3
↓ -1.2% YoY
* Indices are estimated from public sources. CPPI = Commercial Property Price Index, NPI = Net Property Index.
Showing 1 to 25 of 150 tenants
| Rank | Tenant | Sector | Credit (S&P) | Cap Rate | Lease Term | Locations | Investor Score |
|---|---|---|---|---|---|---|---|
| 1 | McDonald's | QSR | BBB+ | 4.25% | 20yr | 13,000 | 96 |
| 2 | Chick-fil-A | QSR | NR | 4.50% | 20yr | 3,000 | 95 |
| 3 | Chipotle | QSR | BBB+ | 5.00% | 15yr | 3,500 | 90 |
| 4 | Raising Cane's | QSR | NR | 4.75% | 15yr | 900 | 93 |
| 5 | Taco Bell | QSR | BBB | 5.05% | 20yr | 8,500 | 89 |
| 6 | Wendy's | QSR | BBB | 5.35% | 18yr | 5,800 | 87 |
| 7 | Burger King | QSR | BBB- | 5.60% | 15yr | 7,200 | 84 |
| 8 | Popeyes | QSR | BBB | 5.25% | 15yr | 3,500 | 86 |
| 9 | Wingstop | QSR | NR | 5.15% | 12yr | 1,400 | 88 |
| 10 | Sonic Drive-In | QSR | BBB- | 5.45% | 15yr | 3,500 | 83 |
| 11 | Jack in the Box | QSR | BB+ | 5.75% | 12yr | 2,200 | 79 |
| 12 | Panda Express | QSR | BBB | 4.95% | 15yr | 2,400 | 91 |
| 13 | Zaxby's | QSR | NR | 5.40% | 12yr | 920 | 85 |
| 14 | Culver's | QSR | NR | 5.55% | 15yr | 920 | 81 |
| 15 | In-N-Out Burger | QSR | NR | 4.60% | 20yr | 420 | 94 |
| 16 | Five Guys | QSR | BBB | 5.70% | 12yr | 1,700 | 80 |
| 17 | Jersey Mike's | QSR | NR | 5.85% | 10yr | 2,400 | 78 |
| 18 | Jimmy John's | QSR | BB+ | 6.10% | 10yr | 2,900 | 76 |
| 19 | Firehouse Subs | QSR | BB | 6.35% | 10yr | 1,200 | 74 |
| 20 | Whataburger | QSR | NR | 5.30% | 15yr | 950 | 89 |
| 21 | Dollar General | Essential Retail | BBB | 6.25% | 15yr | 18,000 | 82 |
| 22 | Dollar Tree | Essential Retail | BBB- | 6.40% | 10yr | 15,500 | 68 |
| 23 | Family Dollar | Essential Retail | BB+ | 6.75% | 12yr | 8,000 | 64 |
| 24 | Aldi | Essential Retail | BBB | 5.80% | 20yr | 2,200 | 86 |
| 25 | Lidl | Essential Retail | BBB | 5.95% | 20yr | 180 | 83 |
Disclaimer: All data is estimated from public sources and provided for informational purposes only. Credit ratings, cap rates, lease terms, and investor scores are subject to change and may not reflect real-time market conditions. This ranking is not an endorsement or investment recommendation. Investors should conduct independent research and consult with qualified professionals before making investment decisions.