Pros and Cons of Investing in CarMax NNN Properties
By Ted Dowding, Managing Broker, TD Commercial Group
$2.5B+ in Closed Transactions · 2000+ deals · CoStar Power Broker & Top Firm Award Winners 2023, 2024, 2025 · Est. 2010
Summary
Net Lease World shows 1 CarMax property for sale on this page, with asking prices of $12,500,000 and asking cap rates of 6.40%. Remaining lease term on these listings runs 20 years. Figures are shown as stored in each record, last updated October 13, 2026. Use the links on this page to compare current CarMax inventory and plan an exchange.
CarMax Properties Listed for Sale
CarMax
- Asking price: $12,500,000
- Asking cap rate: 6.40%
- Lease term remaining: 20 years
- Lease type: NNN
- Source: Net Lease World listing record as of October 13, 2026
How to Read These CarMax Listings
Every figure above is copied from a single stored record, so it reflects what the listing or the closed-sale record reports rather than an estimate. Asking price is the seller's current ask. Asking cap rate is the seller's stated net operating income divided by that ask. Lease term remaining counts the years left on the primary lease before any renewal options. Lease type is shown exactly as the record describes it, so confirm the landlord's obligations in the lease itself before relying on the label.
Closed sales are listed with their sale date and the source of the record. A closed sale tells you what one buyer paid for one property on one date. Location, remaining term, rent increases and the strength of the guarantee all move pricing, so compare like with like before drawing conclusions.
Questions to Ask Before Making an Offer
- Who signs the lease guarantee: the corporate parent, a subsidiary or a franchisee?
- What does the lease make the tenant responsible for, and what stays with the landlord?
- How are rent increases scheduled, and when do renewal options start?
- How does the site compare with nearby retail in visibility, access and traffic?
- Has the property had environmental, roof or structural work, and who paid for it?
Due Diligence for CarMax Properties
Start with the lease. Read the full document, not the offering memorandum summary, and match every term against the estoppel certificate. Order a title report and survey early, and ask the seller for operating history and any tenant correspondence about repairs. If the property has any history of fuel, dry-cleaning or automotive use, budget for an environmental report. Your lender and your tax adviser should review the deal before you remove contingencies.
Investors who buy net lease properties usually care most about the durability of the rent. That depends on the tenant's commitment to the location, the remaining term and the cost of re-leasing if the tenant leaves. None of those can be judged from a cap rate alone.
Using a CarMax Property in a 1031 Exchange
Net lease properties are common replacement properties in like-kind exchanges because they need little day-to-day management. If you are exchanging, line up a qualified intermediary before you sell, identify replacement candidates within the identification period and close within the exchange period set by the IRS. Our 1031 tool tracks those deadlines for you.
Related Pages
Frequently Asked Questions
How many CarMax properties are listed for sale on Net Lease World?
This page shows 1 CarMax listing, taken from published Net Lease World listing records. These figures were last updated on October 13, 2026.
What are CarMax properties listed for?
The CarMax listings shown on this page have asking prices of $12,500,000, as stated in each listing record.
What cap rates are CarMax listings asking?
The asking cap rates on the CarMax listings shown here are 6.40%, as reported by each listing.
How much lease term is left on these CarMax listings?
Remaining primary lease term on the CarMax listings shown here is 20 years, as reported by each listing record.
What lease types do these CarMax listings report?
The listings on this page report the following lease types: NNN. Confirm the landlord's duties in each lease.