Why Net Lease
Income without management.
01
Predictable income
Long-term leases, often 10 to 20 years, with scheduled rent increases and the tenant responsible for taxes, insurance and maintenance.
02
Credit you can underwrite
National and regional tenants with published financials, so the investment is as much about the tenant\'s balance sheet as the building.
03
Passive ownership
No day-to-day management, which suits 1031 exchange buyers, family offices and owners transitioning out of management-intensive assets.
04
A national buyer pool
NNN is the most liquid segment of commercial real estate. Sellers benefit from buyers across the country competing for Florida assets.
What We Do
For net lease sellers, buyers and exchangers
Sell
Disposition
Valuation against current cap rates for your tenant and lease term, institutional offering materials, and marketing to the national net lease buyer pool, including private exposure before public listing.
Buy
Acquisition
Sourcing on- and off-market net lease properties that match your yield, credit and geography requirements, with lease and credit review before you offer.
1031
Exchange replacement
Identification of replacement net lease property within the exchange deadlines, coordinated with your qualified intermediary and tax advisor.
Underwriting
How we evaluate a net lease property
A net lease purchase is an underwriting of the tenant and the lease as much as the building. These are the five questions we answer on every NNN property, for buyers and for sellers deciding how to price.
- 1
Tenant credit and guarantor
Who signs the lease and who stands behind it: a corporate guarantee from an investment-grade parent, a franchisee with a personal guarantee, or a local operator. Published financials and unit-level sales where available.
- 2
Lease term, structure and escalations
Remaining primary term, renewal options, who pays roof, structure and parking under the actual lease language, and whether rent steps are fixed, CPI-linked or flat. Flat rent over a long term erodes real income.
- 3
Location and re-leasability
Traffic counts, access, co-tenancy and demographics, and the harder question: if this tenant left, who would take the building and at what rent. Single-purpose buildings carry more rollover risk than generic retail boxes.
- 4
Cap rate against risk
The going-in yield compared with recent sales of the same tenant and similar lease terms, and against the current cost of debt. A low cap rate is only justified by long term and strong credit.
- 5
Exit and hold period
How the lease term left at the planned sale date affects the next buyer\'s cap rate, and whether a 1031 exchange, refinance or sale to a private buyer is the likely exit.
Live Listings
Retail and net lease properties for sale in Florida
Live listings, updated continuously. Net lease properties are listed within retail, automotive, medical and industrial categories, so the feed below shows Florida retail listings; ask us for a curated net lease list matched to your criteria.
Questions
Net lease, explained
What is a NNN property?
A single-tenant property leased under a triple-net lease, in which the tenant pays property taxes, insurance and maintenance in addition to rent. The owner receives income that is close to net, with minimal management, which is why NNN properties are valued much like bonds secured by real estate.
What determines the value of a net lease property?
Tenant credit, remaining lease term, rent escalations, the real estate itself and the market cap rate for that combination. A long lease to an investment-grade tenant on a strong corner trades at a very different cap rate than a short lease to a franchisee.
Why do 1031 exchange buyers favor NNN?
Because the properties are passive, the income is predictable and the inventory is national, which makes it practical to identify and close a replacement property within the 45- and 180-day deadlines.
Do you sell NNN properties outside Florida?
Our listings are in Florida, but through the Compass network and our national buyer relationships we help Florida clients identify replacement property anywhere in the country.
What are the main risks of buying a net lease property?
Lease rollover (a tenant that does not renew leaves a single-purpose building to re-lease), tenant credit deterioration, market shifts that make the location less valuable, and overpaying at a low cap rate for a lease that is shorter than the hold period. Each is addressed in underwriting: remaining term, guarantor strength, replacement-tenant demand and the real estate value if the lease ended.
Which net lease asset types are most active in Florida?
Essential retail (pharmacies, dollar stores, grocery), quick-service restaurants, medical and dental, automotive service and car washes, and small industrial and last-mile buildings leased to a single tenant.
How are net lease properties priced?
By cap rate: the first-year net operating income divided by the price. The cap rate reflects tenant credit, lease term, escalations and location, and it moves with interest rates. A property is compared against recent sales of similar tenants and lease terms, not against the building alone.