Popeyes NNN Cap Rates
Popeyes asking cap rates right now
17 active Popeyes listings on Net Lease World as of October 15, 2026.
Across listings that publish a cap rate, the median asking cap rate is 5.80% and the average is 5.67%, ranging from 4.25% to 6.30%.
These are asking cap rates on active listings, not closed sales. Final pricing can differ.
| Cap rate band | Listings | Average asking price |
|---|---|---|
| Under 5.00% | 1 | $3,058,823 |
| 5.00% – 5.99% | 9 | $2,515,207 |
| 6.00% – 6.99% | 7 | $2,285,464 |
Cap rate by remaining lease term
Longer remaining terms usually price at lower cap rates. Here is how our live listings break down.
| Term remaining | Listings | Average asking cap rate |
|---|---|---|
| 5 – 9.9 years | 4 | 5.62% |
| 10 – 14.9 years | 3 | 5.15% |
| 15+ years | 10 | 5.85% |
Cap rate by state
States with active listings (50 states only; DC and territories are reported separately).
| State | Listings | Average asking cap rate |
|---|---|---|
| Louisiana | 3 | 5.80% |
| North Carolina | 2 | 4.75% |
| South Carolina | 2 | 5.88% |
| California | 1 | 5.20% |
| Florida | 1 | 6.00% |
| Georgia | 1 | 5.00% |
| Illinois | 1 | 6.00% |
| Ohio | 1 | 6.00% |
| Oklahoma | 1 | 6.30% |
| Oregon | 1 | 5.48% |
| Tennessee | 1 | 6.25% |
| Texas | 1 | 5.50% |
Frequently asked questions
What is the average Popeyes cap rate?
The average asking cap rate across 17 active Popeyes listings on Net Lease World is 5.67% as of October 15, 2026 (median 5.80%).
Are these closed sale cap rates?
No. They are asking cap rates on active listings. Closed sale prices can be higher or lower.
How do I hear about new Popeyes listings?
Set a free alert on the Popeyes page and we will email you when one lists.