How do you value a NNN (triple-net) property?

A single-tenant NNN property is valued by dividing its annual net operating income (NOI) by a market cap rate: Value = NOI ÷ Cap Rate. The cap rate is driven mainly by tenant credit and lease term, then adjusted for location. This estimator blends a tenant-tier cap rate (60%) with a county cap rate (40%) and widens the range for shorter lease terms or franchisee credit.

What cap rate should I use to value my NNN property?

Investment-grade QSR trades around 4.25%–5.00%, pharmacy 5.25%–6.25%, dollar stores 5.75%–7.00%, and auto parts 5.75%–6.75%. Florida county ranges run from roughly 4.50% in Hillsborough and Orange to 7.25% in tertiary markets. Corporate-guaranteed leases and longer remaining terms command tighter (lower) cap rates and higher values.

Is this NNN valuation an appraisal?

No. It is an automated estimate based on market cap-rate ranges, not a formal opinion of value or appraisal. The real number depends on lease specifics, rent escalations, tenant credit, property condition, and what comparable NNN assets are actually trading for. Request a broker-reviewed valuation for current comps.

How do I sell my NNN property in Florida?

Start with a value estimate, then get a broker opinion of value backed by current comparable sales and live buyer demand. MaxLife Commercial markets single-tenant NNN assets to 1031 exchange buyers and passive investors across Florida, including off-market placement to a vetted buyer list.

Seller Tool · Free

What's My NNN Property Worth?

Get an instant triple-net value range from your tenant, NOI, county, and lease term — then a broker-reviewed valuation backed by current Florida NNN comparable sales and live buyer demand.

Selling? See Seller Representation →View NNN Cap-Rate Comps →

Your property

Tenant

Investment Grade · market cap 4.50%–5.25%

County

county NNN range 4.75% – 6.25%

Annual net operating income (NOI)

Base annual rent for a single-tenant NNN.

Remaining primary term (years)

Years left on the base lease, before options.

Renewal options

options

yrs each

e.g. a 20-year lease with 4 × 5-year options → 4 options, 5 yrs each.

Tenant credit

Estimated value range

$2,133,333 – $2,594,595

Midpoint $2,341,463 at an implied cap rate of 5.13% (4.63%–5.63%)

Tenant cap (midpoint)

4.88%

weighted 60%

County cap (midpoint)

5.50%

weighted 40%

Applied cap rate

5.13%

value = NOI ÷ cap rate

Term & options adjustment

Benchmark term (10 yrs) — no cap adjustment.

Estimate only — not a formal opinion of value or appraisal. It blends market cap-rate ranges by tenant tier and county, then adjusts for remaining primary term, renewal options, and tenant credit. Options are weighted less than primary term because the tenant, not the landlord, controls whether they're exercised. Actual value depends on rent escalations, lease specifics, and live buyer demand.

Get a broker-reviewed valuation & comps

This automated number is a starting point. Tell us where to send it and Ryan will prepare a valuation backed by current Florida NNN comps — and gauge what buyers would actually pay for your property today. No obligation.

Submitting does not create a brokerage or listing relationship. MaxLife Realty LLC · Ryan Solberg, FL Broker License #BK3354351.

How NNN valuation works

Start with NOI ÷ cap rate

A single-tenant NNN property is priced off its income. Value equals annual net operating income divided by a market cap rate. A $120,000 NOI at a 6.0% cap rate is worth $2.0M.

Tenant credit sets the cap rate

Investment-grade tenants on long corporate-guaranteed leases trade at the tightest caps; franchisee or shorter-term deals price wider. This tool weights the tenant-tier cap rate at 60% and the county at 40%.

Get the real number from comps

The estimate is a starting point. A broker-reviewed valuation uses current comparable NNN sales and live buyer interest to price your specific asset.

Thinking about selling?

Sell your commercial property

Seller representation for NNN, retail, industrial, and hospitality across Florida.

Selling into a 1031 exchange?

Defer capital gains by rolling your sale proceeds into replacement NNN property.

Florida NNN cap-rate comps

See cap-rate ranges by tenant category and county to sanity-check your estimate.

Browse NNN properties

See what comparable single-tenant net-lease assets are listed across Florida.

Disclaimer: This estimator is for educational and informational purposes only and is not an appraisal, a formal opinion of value, or a guarantee of sale price. Estimates are derived from representative market cap-rate ranges and do not account for rent escalations, lease specifics, property condition, environmental factors, or current buyer demand. Consult a licensed commercial real estate broker before making any decision. MaxLife Realty LLC · Ryan Solberg, FL Broker License #BK3354351.

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