Chick-fil-A NNN Properties for Sale
The most sought-after QSR in the NNN market. Chick-fil-A absolute NNN ground leases trade at the tightest cap rates in quick-service retail — because serious investors know what zero landlord obligations plus the strongest sales-per-unit in QSR means for long-term hold quality.
4.5%–5.5%
Cap Rate Range
$3.5M–$7M+
Typical Price
20 years
Lease Term
3,000+
Locations
$9M+ avg
Sales/Unit
$22B+
Annual Revenue
Why Invest in Chick-fil-A NNN Properties?
The investment thesis behind Chick-fil-A as a single-tenant NNN asset.
Highest Sales Per Unit of Any QSR — By Far
Chick-fil-A averages over $9 million in annual sales per location — more than McDonald's, Starbucks, or any other QSR chain. They're also closed Sundays, meaning that $9M comes in six days. That sales volume is the ultimate rent coverage ratio. Your tenant's ability to pay rent is not in question.
Absolute NNN Ground Lease — Land Only
Most Chick-fil-A NNN transactions are ground leases where you own the land and Chick-fil-A owns and maintains the building. Your obligations: zero. No roof. No HVAC. No parking lot. No building systems. Just a corporate rent check every month for 20 years.
Scarcity Premium — Limited Sale Inventory
Chick-fil-A controls its franchises tightly and rarely allows investment sales of operating locations. When a Chick-fil-A NNN does come to market — through estate sales, portfolio dispositions, or developer sales — it attracts national multi-buyer competition within days. The ESS Group accesses inventory before it reaches public portals.
The Ultimate 1031 Exchange Long-Term Hold
A 20-year Chick-fil-A ground lease is the closest thing to a government bond with a QSR attached. 1031 exchange buyers use Chick-fil-A as a terminal replacement property — they're not buying to sell again. The scarcity of available inventory makes working with a specialist who has pre-market access non-negotiable.
Chick-fil-A NNN — Strengths & Considerations
An honest investor's view of what makes Chick-fil-A work — and what to watch for.
Investor Strengths
- Highest QSR sales per unit in America ($9M+ annually)
- Absolute NNN ground lease — zero landlord obligations
- 20-year primary term with 10% rent bumps every 5 years
- Privately held, debt-free — exceptionally strong corporate guarantee
- Scarcity premium — limited sale inventory creates lasting demand
- Drive-through dominant format is recession-resilient
- Closed Sundays — $9M revenue in 6 operating days
- Ideal 1031 exchange long-term hold — terminal asset quality
Considerations
- Lowest cap rates in QSR — premium pricing reflects premium quality
- Very limited available inventory — requires specialist access
- Entry price ($3.5M+) requires substantial exchange equity
- Privately held credit — no public rating (though analysts treat as investment-grade)
- High demand means fast decision-making required when deals surface
Chick-fil-A as a 1031 Exchange Replacement Property
Chick-fil-A is the single most requested 1031 exchange target among serious NNN buyers. When investors with $3M–$7M+ in exchange equity want a true passive hold — something they can own for 20 years without a single landlord obligation — Chick-fil-A is the answer. The ESS Group works pre-market inventory channels specifically to access CFA deals before they go broad. If you have a 1031 exchange coming and want Chick-fil-A on your identification list, the conversation needs to start now.
Learn More About 1031 Exchange into NNNChick-fil-A NNN — Common Investor Questions
Why are Chick-fil-A cap rates so low compared to other QSR tenants?
Chick-fil-A commands the tightest cap rates in QSR because of a combination of factors no other chain can match: (1) highest sales per unit of any fast-food chain at $9M+ annually, (2) privately held and debt-free with an exceptionally strong corporate guarantee, (3) absolute NNN ground lease structure with zero landlord obligations, and (4) extremely limited investment sale inventory. When an asset class has strong fundamentals and scarce supply, prices go up and cap rates compress.
What is a Chick-fil-A ground lease and how does it work?
In a Chick-fil-A ground lease, you own the land and Chick-fil-A owns and maintains the building. You sign a 20-year lease with Chick-fil-A as tenant, they build their restaurant on your land, and they pay you rent every month — while being responsible for every building-related expense. At lease expiration, the building and improvements revert to the landowner. It is the purest form of passive real estate income.
How do I find Chick-fil-A NNN properties for sale?
Chick-fil-A NNN properties are rarely listed publicly. Available deals come through developer sale-leasebacks, corporate estate dispositions, and private portfolio sales — and they move fast. The ESS Group maintains active relationships with the brokers and developers who control this inventory. If you want to be in the first call when a CFA deal surfaces, you need to be in our pipeline before you need it.
Is Chick-fil-A a good investment for a 1031 exchange?
It is one of the best. A 20-year Chick-fil-A absolute NNN ground lease on a strong-volume location is a terminal 1031 exchange asset — most buyers who acquire one hold it for the full term. The combination of zero landlord obligations, strong corporate guarantee, 10% rent escalations every 5 years, and the highest sales-per-unit in QSR creates exactly the kind of passive, appreciating income stream that 1031 exchange buyers are seeking.
See Current Chick-fil-A
NNN Inventory
Tell us your investment criteria — budget, cap rate target, and 1031 timeline — and we'll share current off-market Chick-fil-A NNN deals that match.
Why Chick-fil-A Works for Your 1031 Exchange
Chick-fil-A is the single most requested 1031 exchange target among serious NNN buyers. When investors with $3M–$7M+ in exchange equity want a true passive hold — something they can own for 20 years without a single landlord obligation — Chick-fil-A is the answer. The ESS Group works pre-market inventory channels specifically to access CFA deals before they go broad. If you have a 1031 exchange coming and want Chick-fil-A on your identification list, the conversation needs to start now.
Compare Other Investment-Grade NNN Tenants