Explainer
How the bands are published
Sample-size withhold, operator versus corporate, and what a band is not.
Read the method →Research · monthly tracker
Sale-leaseback cap-rate tracker
Sector cap bands and sample sizes from our internal sale-leaseback book, refreshed as the book moves. A dash is a withhold — not a hint at a number we declined to print.
Written by Dwaine Clarke , Founder & Principal Broker, American Net Lease, LLC Reviewed (239) 236-2626
Transaction book
Sale-leaseback cap bands
As of American Net Lease internal transaction book
| Sector | Guarantor | Cap band | n | Median term |
|---|---|---|---|---|
| Quick-service restaurant | Operator / franchisee | 5.50% – 6.25% | 65 | 14.4 |
| Quick-service restaurant | Corporate | 4.70% – 5.84% | 101 | 14.3 |
| Car wash | Operator / franchisee | — | — | — |
| Car wash | Corporate | — | — | — |
| Auto service | Operator / franchisee | 6.00% – 6.25% | 5 | 11.7 |
| Auto service | Corporate | 5.35% – 6.25% | 73 | 14.3 |
| Convenience / fuel | Operator / franchisee | — | — | — |
| Convenience / fuel | Corporate | 4.84% – 5.16% | 56 | 14.8 |
| Dollar / discount | Operator / franchisee | — | — | — |
| Dollar / discount | Corporate | 6.43% – 7.11% | 34 | 9.9 |
| Medical / dental | Operator / franchisee | — | — | — |
| Medical / dental | Corporate | — | — | — |
Cells with fewer than five sales are withheld.
Method
A monthly read of the same book the site already uses.
Every cell on this page is the committed slb-benchmarks JSON — the same file the operator hub, vertical data cards, calculator, and cap-rates explainer read at build time. There is no second book and no request-time database call.
A book (operator or corporate) publishes only when the trailing sample has five or more sales. Below that, every field is written back as null and renders as an em dash. The withhold footnote stays on the table whether or not a cell is live.
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Related guides
Research
Net-lease cap-rate report
The public asking-cap research note this tracker sits beside.
Open the report →Tool
Sale-leaseback calculator
Run an indicative value from the same sector bands.
Open the calculator →Want these bands read against your locations?
The Portfolio Capital Analysis applies the published book — or withholds it — to the leases you can support.