What is a net lease property?

A net lease property is a commercial real estate asset where the tenant pays some or all of the property expenses in addition to base rent. In a triple net (NNN) lease, the tenant covers property taxes, insurance, and maintenance, giving the owner a largely passive income stream.

What is a good cap rate for net lease properties?

Cap rates for net lease properties typically range from about 5% to 8%. Lower cap rates reflect investment-grade tenants, long remaining lease terms, and strong locations, while higher cap rates compensate for shorter terms, weaker credit, or secondary markets.

Are net lease properties good for a 1031 exchange?

Yes. Net lease properties are one of the most popular 1031 exchange replacement options because they offer predictable income, minimal landlord responsibilities, and long-term leases backed by national tenants.

How do I buy a net lease property?

Identify your target tenant credit, cap rate, and location, review the lease and remaining term, and complete due diligence on the property and tenant. Top Net Lease lets you browse current listings by brand and state and connect directly with the seller.

Nationwide inventory

Net Lease Properties for Sale

Explore triple net (NNN) and net lease commercial real estate for sale across the country. Filter by national credit tenant and state to find 1031 exchange and passive-income opportunities that match your criteria.

Active listings: 864
States with inventory: 46
Tenant brands: 101

Net lease properties for sale by state

Investing in net lease real estate

Net lease properties are commercial assets leased to a single tenant that assumes responsibility for property expenses. The triple net (NNN) structure — where the tenant pays taxes, insurance, and maintenance — is favored by investors who want dependable income without day-to-day management.

Because leases are typically long (often 10 to 25 years) and backed by national or regional operators, net lease assets are a core holding for 1031 exchange buyers, retirees seeking passive income, and institutions building diversified real estate portfolios.

Use the state and brand pages below to compare live inventory, average cap rates, and tenant mix, then connect directly with the seller on any listing that fits your investment goals.

Frequently asked questions

What is a net lease property?: A net lease property is a commercial real estate asset where the tenant pays some or all of the property expenses in addition to base rent. In a triple net (NNN) lease, the tenant covers property taxes, insurance, and maintenance, giving the owner a largely passive income stream.
What is a good cap rate for net lease properties?: Cap rates for net lease properties typically range from about 5% to 8%. Lower cap rates reflect investment-grade tenants, long remaining lease terms, and strong locations, while higher cap rates compensate for shorter terms, weaker credit, or secondary markets.
Are net lease properties good for a 1031 exchange?: Yes. Net lease properties are one of the most popular 1031 exchange replacement options because they offer predictable income, minimal landlord responsibilities, and long-term leases backed by national tenants.
How do I buy a net lease property?: Identify your target tenant credit, cap rate, and location, review the lease and remaining term, and complete due diligence on the property and tenant. Top Net Lease lets you browse current listings by brand and state and connect directly with the seller.