Shell NNN Properties for Sale
Live Shell listings
- Shell — Tallahassee, FL · Asking $1.27M · 7.50% cap rate
- Shell — Leesburg, FL · Asking $4.99M · 7.20% cap rate
- Shell — Sun Valley, CA · Asking $2.00M · 8.00% cap rate
- Shell — Green Bay, WI · Asking $2.33M · 5.71% cap rate
4 active Shell listings as of October 23, 2026.
Shell market snapshot
| Metric | Value |
|---|---|
| Active listings | 4 |
| Average asking price | $2.65M |
| Median asking price | $2.17M |
| Average asking cap rate | 7.10% |
| Median asking cap rate | 7.35% |
| Median remaining lease term | 16.1 years |
Shell cap rates by band
| Cap rate band | Listings | Average asking price |
|---|---|---|
| 5.00% – 5.99% | 1 | $2.33M |
| 7.00% – 7.99% | 2 | $3.13M |
| 8.00% and above | 1 | $2.00M |
Shell listings by state
| State | Listings | Average cap rate |
|---|---|---|
| Florida | 2 | 7.35% |
| California | 1 | 8.00% |
| Wisconsin | 1 | 5.71% |
Shell remaining lease term
| Remaining term | Listings | Average cap rate |
|---|---|---|
| Under 5 years | 1 | 8.00% |
| 10 – 14.9 years | 1 | 5.71% |
| 15+ years | 2 | 7.35% |
Buying Shell in a 1031 exchange
In a 1031 exchange, replacement property must be identified within 45 days of selling the relinquished property and the purchase must close within 180 days. A qualified intermediary holds the sale proceeds in between. Speak with your own tax adviser about your situation.
3 of the 4 live Shell listings have 10 or more years of primary lease term remaining (as of October 23, 2026).
Shell due-diligence checklist
- Read the full lease: confirm the firm term, renewal options, rent schedule and every landlord responsibility.
- Confirm who guarantees the lease (corporate, franchisee or personal) and review the guarantor’s financial statements where available.
- Order tenant estoppel and SNDA documents before closing.
- Review the title commitment, survey and zoning report for the parcel.
- Commission a Phase I environmental site assessment.
- Inspect the roof, structure, parking lot and HVAC, and confirm any warranties.
- Verify property tax, insurance and CAM reimbursements against the lease.
- Review store-level sales or rent-to-sales data if the tenant reports it.
Shell net lease FAQ
How many Shell net lease properties are for sale?
Net Lease World shows 4 live Shell listings as of October 23, 2026.
What cap rates are Shell properties listed at?
Live Shell listings with a published cap rate range from 5.71% to 8.00%, with a median of 7.35% (as of October 23, 2026). These are asking cap rates, not closed sales.
What is the typical asking price for a Shell property?
The median asking price across live Shell listings with a published price is $2.17M (as of October 23, 2026).
Which states have the most Shell listings?
Florida (2), California (1), Wisconsin (1). Listings appear in 3 states in total (as of October 23, 2026).
How much lease term is left on Shell listings?
The median remaining primary lease term is 16.1 years; 3 listings have 10 or more years remaining (as of October 23, 2026).
Can I buy Shell properties in a 1031 exchange?
Generally yes, if both the property you sell and the one you buy are held for investment or business use. You must identify replacement property within 45 days of your sale and close within 180 days, with a Qualified Intermediary holding the proceeds. Confirm the details with your tax adviser.
What does NNN mean on these listings?
In a triple net (NNN) lease the tenant pays real estate taxes, building insurance and maintenance on top of rent. Some NNN leases still leave the roof, structure or parking lot with the landlord, so read each lease before you buy.
How do I get the offering memorandum?
Open a listing and choose Request OM. A free Net Lease World account is required to receive offering memoranda.