Taco Bell NNN Properties for Sale in Florida
Taco Bell, owned by Yum! Brands (NYSE: YUM), is one of the largest QSR chains in America with approximately 7,400 US locations. Most properties are franchisee-owned and leased, so lease guarantees vary — corporate-guaranteed deals trade tighter than franchisee-guaranteed deals.
Typical Cap Rate
5.25% - 6.00%
Lease Term
20 years
Price Range
$1.8M - $3.5M
Building Size
2,000 - 2,500 SF
Lot Size
0.60 - 1.00 acres
Credit Rating
S&P: BB+ (Yum!)
Investment Highlights
- Yum! Brands corporate guarantee (when available)
- 20-year lease terms
- Absolute NNN lease structure common
- Drive-thru corner pad locations
- Strong brand recognition and customer loyalty
- Recession-resistant value-oriented model
Lease Structure
Taco Bell leases vary widely depending on corporate vs. franchisee guarantee. Corporate-guaranteed deals trade at 5.25-5.75% cap rates; franchisee-guaranteed trade wider (5.75-6.5%) depending on franchisee credit strength. 20-year initial terms with 4-5 five-year options.
Taco Bell Tenant Profile
Yum! Brands owns Taco Bell, KFC, and Pizza Hut with ~57,000 global restaurants. Credit: S&P BB+, Moody's Ba2 (non-investment grade but stable). Most US Taco Bells are franchisee-operated; corporate-guaranteed deals are preferred by investors.
Taco Bell in Florida
Florida has 400+ Taco Bell locations. Corporate-guaranteed properties in growth markets trade at 5.25-5.75% cap rates. Franchisee-guaranteed deals require individual franchisee credit analysis.
Why Buy Taco Bell
- +Established QSR brand with strong customer loyalty
- +Drive-thru pad sites in prime locations
- +20-year lease commitments
- +Absolute NNN on most corporate deals
- +Wider cap rates than Chick-fil-A/Starbucks
Considerations
- •Critical to verify corporate vs. franchisee guarantee
- •Non-investment-grade parent credit (BB+)
- •Franchisee deals require credit diligence on operator
- •Competitive QSR Mexican segment
Related QSR Tenants
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