Wendy's NNN Cap Rates
Wendy's asking cap rates right now
42 active Wendy's listings on Net Lease World as of October 15, 2026.
Across listings that publish a cap rate, the median asking cap rate is 5.85% and the average is 5.78%, ranging from 4.62% to 8.80%.
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% | 5 | $2,019,787 |
| 5.00% – 5.99% | 17 | $2,499,515 |
| 6.00% – 6.99% | 17 | $2,241,956 |
| 7.00% – 7.99% | 2 | $1,536,500 |
| 8.00% and above | 1 | $829,000 |
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 |
|---|---|---|
| Under 5 years | 2 | 6.71% |
| 5 – 9.9 years | 7 | 5.27% |
| 10 – 14.9 years | 12 | 5.96% |
| 15+ years | 21 | 5.76% |
Cap rate by state
States with active listings (50 states only; DC and territories are reported separately).
| State | Listings | Average asking cap rate |
|---|---|---|
| Virginia | 9 | 6.09% |
| Michigan | 8 | 6.17% |
| Florida | 7 | 5.25% |
| Tennessee | 4 | 6.08% |
| South Carolina | 3 | 5.65% |
| Connecticut | 1 | 5.00% |
| Idaho | 1 | 5.26% |
| Illinois | 1 | 4.65% |
| Kansas | 1 | 5.50% |
| Kentucky | 1 | 5.48% |
| Louisiana | 1 | 7.00% |
| New Mexico | 1 | 4.75% |
| North Carolina | 1 | 5.90% |
| Oklahoma | 1 | 5.70% |
| Texas | 1 | 5.25% |
Frequently asked questions
What is the average Wendy's cap rate?
The average asking cap rate across 42 active Wendy's listings on Net Lease World is 5.78% as of October 15, 2026 (median 5.85%).
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 Wendy's listings?
Set a free alert on the Wendy's page and we will email you when one lists.