Topic
Net Lease
Guides and real deal teardowns on net lease.
How I actually read a deal
Why a cap rate alone lies, and the five things I actually adjust for before I trust a number.
Read it →The Five Cores: how to actually pick an advisor
The five things I'd look for in anyone I trusted to sell a net-lease asset, and what it costs you when one is missing.
Read it →Single-tenant or multi-tenant: which risk do you actually want?
The real tradeoff between single-tenant net lease and multi-tenant retail: vacancy exposure, rent growth, management, and return.
Read it →Is a Dollar General a good net lease investment? What to actually check
A real-estate-first look at Dollar General net lease properties: lease structure, the corporate guarantee, residual value, and the due-diligence checklist, plain English, not a stock pitch.
Read it →Walgreens net lease, explained for investors
How Walgreens net lease properties are typically structured, very long flat leases with tenant termination options, plus the sector context and the checklist that actually matters.
Read it →Starbucks net lease and ground lease basics
The difference between a Starbucks corporate net lease and a Starbucks ground lease, why rent escalations matter, and what to confirm before you buy.
Read it →The Chick-fil-A ground lease, explained
Why Chick-fil-A single-tenant deals are scarce, what a ground lease means for a landowner, and what to confirm before assuming a listing is really the tenant it claims.
Read it →Walmart and American retail real estate: the story, and what it means for owners
How Walmart reshaped American retail real estate, where the company stands today, and what its continued growth or a pullback would mean for owners and investors near its stores.
Read it →Target's real estate footprint: what it means for the property next door
Target's approach to store location and format, where the company stands today, and what its growth or contraction would mean for owners and investors near its stores.
Read it →Home Depot, Lowe's, and the home-improvement box: a real estate read
Why home-improvement anchors like Home Depot are considered durable retail real estate, where the category stands today, and what their performance means for nearby owners and investors.
Read it →Grocery-anchored retail: the Kroger question every investor asks
Why grocery-anchored centers are prized, where traditional grocers like Kroger stand amid competition, and what a grocer's performance means for owners and investors.
Read it →Amazon and the reshaping of retail real estate
How Amazon and e-commerce reshaped retail real estate, why some formats proved resilient, and what the shift means for retail property owners and investors.
Read it →Cap rate, explained, and how to actually use it on retail property
What a capitalization rate is, how to apply it to retail investment property, what it hides, how to use it as a strength, and the best- and worst-case ways it plays out.
Read it →Ground leases, explained: owning the dirt under the store
What a ground lease is, how it works for retail investment property, what to watch for, how to use it as a defensive strength, and the best/worst-case outcomes.
Read it →O'Reilly Auto Parts as Net-Lease Real Estate: What the Auto-Parts Format Means for Investors
A plain-English look at O'Reilly Auto Parts and the auto-parts retail format as net-lease real estate: the history, the real estate footprint, and what owners and investors should think through before buying one.
Read it →7-Eleven and the Convenience Store as Net-Lease Real Estate: What Owners Should Know
A plain-English look at 7-Eleven and the convenience/fuel store format as net-lease retail: its history, the real estate that makes it work, and how owners and investors weigh the tradeoffs.
Read it →Tractor Supply as a Net-Lease Tenant: What Owners Should Know About the Real Estate
A plain-English look at Tractor Supply Company as retail real estate and a net-lease investment tenant: its history, its store format, and what its properties mean for owners and buyers.
Read it →Dollar Tree and Family Dollar: What the Dollar-Store Category Means for Net-Lease Investors
A plain-English look at Dollar Tree and Family Dollar as retail real estate and net-lease investments: the history, the property footprint, and what owners should weigh before buying.
Read it →Wawa Real Estate: How the Modern Convenience-and-Fuel Format Became a Net-Lease Favorite
Wawa turned the corner convenience store into a fuel-and-foodservice destination, and that format now anchors some of the most sought-after net-lease retail real estate. Here's how it happened and what it means for owners.
Read it →Aldi and the Discount-Grocery Format: What It Means for Retail Real Estate
Aldi built one of the fastest-growing footprints in American grocery on a small-box, private-label model. Here's how that format shapes retail real estate and what net-lease owners should think through.
Read it →AutoZone Net Lease: What the Auto-Parts Box Means for Investors
A plain-English look at AutoZone and the auto-parts box as net-lease retail real estate: the history, the real estate footprint, where the category stands today, and what owners and investors should weigh.
Read it →CVS as a Net-Lease Tenant: What Owners and Investors Should Know
A plain-English look at CVS Health as a retail real estate and net-lease investment tenant: its history, its footprint, and what its store strategy means for owners and buyers of single-tenant property.
Read it →The Triple Net (NNN) Lease Explained: What It Means for Retail Investors
A plain-English breakdown of the triple net (NNN) lease: what the tenant actually pays, how it shapes a retail investment, what to check before you buy, and how to make the structure work for you.
Read it →Gross Lease vs. Net Lease: What Every Retail Property Buyer Needs to Know
A gross lease and a net lease can produce the same monthly check but two completely different investments. Here's the difference, why it drives value in retail property, and what to watch before you buy.
Read it →Absolute Net Lease Explained: How It Differs From a Standard NNN Lease
An absolute net lease pushes every cost of ownership, including roof and structure, onto the tenant, which is not always what a standard NNN lease actually delivers. Here's how to tell the difference before you rely on it.
Read it →The Sale-Leaseback, Explained: How Operators Turn Buildings Into Cash
A sale-leaseback is when a company sells the real estate it owns and immediately leases it back to keep operating, a common way net lease retail deals get created, and a tool worth understanding whether you're buying or selling.
Read it →McDonald's Real Estate: Why It's a Property Company That Happens to Sell Burgers
A plain-English look at how McDonald's built its business around owning and controlling real estate, and what its ground-lease structure means if you're buying a single-tenant net-lease property.
Read it →Wendy's as Net-Lease Real Estate: What Corporate vs. Franchise Really Means for Your Investment
A plain-English look at Wendy's as net-lease retail real estate, and why who signs the lease, corporate or a large franchisee, matters as much as the brand on the sign.
Read it →Chipotle as a Net-Lease Tenant: What Owners and Investors Should Know
A plain-English look at Chipotle as a net-lease retail tenant: how the concept shapes the real estate, what a typical lease looks like, and how I'd size up the risk on either side.
Read it →Costco Real Estate: How the Warehouse-Club Format Works as an Investment
A broker's plain-English look at Costco and the warehouse-club model as retail real estate: how the format took shape, why it anchors so much traffic, and what owners and investors should actually weigh before buying near one.
Read it →Publix and Grocery-Anchored Real Estate: How I Read the Southeast's Favorite Anchor
A plain-English look at Publix and grocery-anchored retail real estate in the Southeast: the history, why grocers make sticky anchors, and what owners and investors should actually weigh before buying.
Read it →Dutch Bros and the Drive-Thru Coffee Model: A Net-Lease Owner's Guide
A plain-English look at Dutch Bros and the drive-thru-only coffee format as net-lease retail real estate: how the model works, what drives the real estate, and what owners and investors should weigh before buying one.
Read it →Taco Bell Net Lease: What a Yum! Brands QSR Really Buys You
How Taco Bell and the Yum! Brands quick-service format work as net-lease retail investments: lease structure, tenant credit, real estate fundamentals, and what to weigh before you buy one.
Read it →Raising Cane's and the Single-Concept QSR Playbook for Net-Lease Investors
A plain-English look at Raising Cane's and the single-concept quick-service restaurant format as net-lease retail. What the model is, why it matters to real estate, and how I size one up for owners and investors.
Read it →Sprouts Farmers Market as Net-Lease Real Estate: What the Specialty-Grocery Format Means for Owners
A plain-English look at Sprouts Farmers Market and the specialty-grocery format as retail real estate: how the smaller box works, what drives the lease, and what owners and investors should weigh before buying one.
Read it →Discount Tire as Net-Lease Real Estate: What Buyers Should Know
A plain-English look at Discount Tire and the tire/auto-service format as net-lease retail real estate: the history, the real estate mechanics, and how owners and investors should think about the risk.
Read it →Trader Joe's Real Estate: What the Small-Format Grocery Model Means for Net-Lease Investors
A plain-English look at Trader Joe's and the small-format grocery model as retail real estate: how the footprint works, what tends to land on the market, and what owners and investors should weigh before chasing the name.
Read it →Take 5 Oil Change and the Quick-Lube Net-Lease Play: How I Read the Drive-Thru Oil Change Box
A plain-English look at Take 5 Oil Change and the quick-lube/auto-service format as net-lease retail real estate: the history, the drive-thru real estate advantage, and what owners should weigh before buying.
Read it →Dialysis Clinics as Net-Lease Real Estate: DaVita, Fresenius, and the Case for Medical Retail
A plain-English look at dialysis clinics operated by DaVita and Fresenius as net-lease investment property: how the real estate works, what makes the tenant credit distinctive, and what owners should weigh before buying.
Read it →Best Buy Net Lease Real Estate: What CRE Investors Should Know About the Electronics Big Box
A plain-English look at Best Buy as retail real estate: how the electronics big box earns its rent, where the sites sit, and what owners and net-lease investors should weigh before buying one.
Read it →Buc-ee's as Retail Real Estate: What the Mega-Travel-Center Format Means for Net-Lease Investors
A plain-English look at Buc-ee's and the mega-convenience/travel-center format as retail real estate, why the sites are unusual, and what owners and investors should weigh before chasing one.
Read it →Dunkin' as Net-Lease Real Estate: How I Underwrite the Coffee Drive-Thru
A broker's plain-English look at Dunkin' and the coffee/donut drive-thru as net-lease retail: what drives the format, how the leases tend to be structured, and what owners should weigh before they buy.
Read it →Culver's as Net-Lease Real Estate: What the Drive-Thru Format Really Buys You
A broker's plain-English look at Culver's and the drive-thru fast-casual format as net-lease retail real estate: how the buildings get owned, what drives value, and what to check before you buy.
Read it →Popeyes as Net-Lease Real Estate: How I Read a QSR Chicken Deal
A clear-eyed look at Popeyes as net-lease retail: how the fast-food model shapes the real estate, what to check on the lease, and how owners should weigh the upside against the risks. General education, not investment advice.
Read it →Burger King Net Lease: What CRE Investors Should Know About the Ground Under the Whopper
A plain-English look at Burger King as net-lease retail real estate. Because most locations are franchisee-operated, the strength of your lease often comes down to who signs it and how the site performs.
Read it →Panda Express as Net-Lease Real Estate: What Owners and Investors Should Know
A broker's plain-English look at Panda Express as single-tenant net-lease real estate: how the leases tend to be structured, what drives the real estate value, and what to weigh before you buy the dirt.
Read it →Whataburger as Net-Lease Real Estate: What Owners and Investors Should Know
A plain-English look at Whataburger as net-lease retail real estate: the brand's history, why the underlying property matters more than the burger, and how I coach owners and investors to think about the risk on both sides.
Read it →KFC as Net-Lease Real Estate: What Buyers Should Actually Look At
A plain-English look at KFC (a Yum! Brands concept) as single-tenant net-lease retail: how the real estate works, what drives value, and the questions I'd ask before you buy the tenant instead of the corner.
Read it →Panera Bread as Net-Lease Real Estate: How I Read the Fast-Casual Format
A broker's plain-English look at Panera Bread and the fast-casual format as net-lease retail: how the real estate is built, where the value sits, and what owners should actually underwrite.
Read it →Whole Foods Market Real Estate: What the Premium Grocery Anchor Means for Investors
A plain-English look at how Whole Foods Market grew, how it anchors premium grocery-centered retail, and what owners and investors should weigh before buying near one.
Read it →Sam's Club and the Warehouse-Club Format: A Net-Lease Real Estate Breakdown
A plain-English look at Sam's Club and the warehouse-club model as retail real estate: how the format drives value, what to check before you buy, and the two-sided scenario every owner should think through.
Read it →Ross Dress for Less and Off-Price Retail Real Estate: What Owners Should Know
A broker's plain-English look at Ross Dress for Less and the off-price retail model as real estate: what drives the format, how the leases tend to work, and what it means if you own or want to own one.
Read it →TJ Maxx and Marshalls Real Estate: How I Read TJX as a Retail Landlord
A plain-English broker's look at TJ Maxx and Marshalls (TJX) as retail real estate: the history, the store model, and what the off-price format means for landlords and net-lease investors.
Read it →Five Below and the Discount Specialty Format: A Net-Lease Owner's View
A plain-English look at Five Below as net-lease retail real estate: how the discount specialty format works, why it fills junior-box space, and what owners and investors should weigh on the real estate itself.
Read it →Lowe's and the Home-Improvement Big Box: How These Buildings Work as Real Estate
A plain-English look at Lowe's and the home-improvement big box as net-lease real estate: how these buildings got here, what makes the real estate durable, and what owners should actually weigh before they buy.
Read it →PetSmart and Petco as Net-Lease Real Estate: What a Broker Actually Looks At
A plain-English look at how pet retailers like PetSmart and Petco work as net-lease investments: the history, the real estate that sits underneath the lease, and what owners should weigh before they buy.
Read it →Ulta Beauty as Net-Lease Retail Real Estate: How I Read the Beauty Box
A broker's plain-English look at Ulta Beauty and the beauty-retail format as net-lease real estate: where the category is resilient, where the real risk sits, and what owners should actually underwrite.
Read it →Hobby Lobby Real Estate: What the Big-Box Craft Format Means for Net-Lease Investors
A plain-English look at Hobby Lobby and the craft/big-box format as net-lease real estate, how the footprint shapes value, and what owners should weigh before they buy.
Read it →Circle K Net Lease: How Convenience and Fuel Real Estate Actually Works
A CCIM broker's straight-talk guide to Circle K and the convenience/fuel format as net-lease retail real estate: how the format got here, why the dirt matters, and what owners and investors should actually weigh.
Read it →The Modified Gross Lease Explained: What It Means for Net-Lease Buyers
A modified gross lease splits building expenses between landlord and tenant instead of loading them all on one side. Here's how to read one, what to check, and why the details matter more than the label.
Read it →The triple net that wasn't
The listing said triple net. The leases said the landlord quietly eats management, some repairs, and capped recoveries.
Read it →