Sell Your Chick-fil-A Property
Thinking about selling your Chick-fil-A property? NNN Realty advises owners on net lease investment sales across the country. This page explains how buyers value Chick-fil-A ground leases, what can move your price, and what to expect from listing through closing.
The Chick-fil-A Market at a Glance
Short Answer
Most Chick-fil-A properties are ground leases: you own the land, and the tenant owns the building and pays the property’s costs. Value rests mainly on the rent, the years remaining, the timing of the next increase, and how the rent compares with what the land alone could earn. Buyers also check for a right of first refusal or right of first offer, which can affect timing and competition.
- Typical cap rate
- 4% to 5%
- Typical sale price
- $3.5M to $5M
- Typical term left at sale
- 10 to 15 years
- Typical lease type
- Ground lease
Approximate ranges from NNN Realty’s tracking of Chick-fil-A listings and reported sales, with data as of September 30, 2026. They are a starting point, not an appraisal or a quote of current pricing: your property’s value depends on its lease, location and condition.
How to Sell Your Chick-fil-A Property
Selling a Chick-fil-A ground lease starts with knowing exactly what your lease allows, including any tenant purchase rights, and how its rent schedule compares with recent trades. Our process covers pricing, buyer outreach, negotiation and closing, with the lease’s notice requirements built into the timeline.
Property Review & Valuation
We begin with the ground lease itself: the tenant entity, years remaining, rent schedule and next increase date, renewal options, and any right of first refusal or right of first offer. We also review the land value, site access, parking and any shopping center or reciprocal easement agreements, then compare your property with recent Chick-fil-A sales to recommend an asking price.
Market Positioning & Buyer Targeting
Chick-fil-A ground leases draw 1031 exchange buyers, private investors seeking low-management income, and family offices that value land ownership. We prepare an offering memorandum with professional and drone photography, a site plan and a clear summary of the rent schedule, then contact buyers whose criteria match the property. If your lease gives the tenant a purchase right, we plan the marketing around its notice steps.
Offers, Buyer Qualification & Negotiations
When offers arrive, we look past price to each buyer’s financing or proof of funds, exchange deadlines, record of closing and requested due diligence period. If the lease includes a right of first refusal, the accepted terms may need to be offered to Chick-fil-A before you can sign with the buyer. We negotiate a non-binding Letter of Intent (LOI) on the key terms, then move to a Purchase and Sale Agreement (PSA).
Due Diligence & Closing
After the PSA is signed, the buyer’s due diligence period typically runs about 30–45 days. The buyer reviews title, the survey, environmental reports, the ground lease and any site agreements, and can usually cancel during this window and recover the earnest money deposit.
We coordinate the documents, the buyer’s site visit, and communication with attorneys, the title company and any lender, and we request the tenant estoppel certificate in which Chick-fil-A confirms the lease terms. Depending on the PSA, the deposit may become nonrefundable once due diligence ends, subject to its exceptions, and closing commonly follows within another 15–30 days. Timelines vary by transaction.
What Is My Chick-fil-A Property Worth?
A Chick-fil-A property’s value comes from its net operating income (NOI) and the capitalization rate (cap rate) a buyer will accept. Not every Chick-fil-A trades at the same cap rate. The years left on the ground lease, the timing of the next rent increase, the rent compared with land value, and any tenant purchase rights all shape what a buyer will pay.
How Cap Rates Affect Your Property’s Value
A cap rate represents the relationship between a property’s annual net operating income and its purchase price. Generally, a lower cap rate results in a higher property value, while a higher cap rate results in a lower value.
Example: $190,000 annual NOI at 4.5% cap rate = approximately $4,222,222 estimated property value.
Property Value = Annual NOI ÷ Cap Rate
Cap rate calculator
Estimated property value
Illustrative calculation only. Actual sale prices depend on property characteristics and market conditions.
Factors That Influence Chick-fil-A Property Values
Remaining Ground Lease Term
A ground lease with most of its initial term still ahead usually draws the most buyers and the strongest pricing. As the term shortens, buyers focus more on the renewal options and on what the land would be worth without the restaurant.
Rent Increase Timing
Many Chick-fil-A leases raise the rent at set intervals, often every five years. Selling shortly before an increase lets a buyer count on higher income sooner, which can support a better price.
Rent Compared With Land Value
Because you own the land rather than the building, buyers ask what the site could earn without Chick-fil-A. Rent close to that level is viewed as lower risk than rent well above it.
Tenant Purchase Rights
Many leases give Chick-fil-A a right of first refusal or right of first offer when the owner decides to sell. Buyers want to know how it works and how long the tenant has to respond, so we confirm the terms before marketing.
Tenant Entity & Private Credit
Chick-fil-A, Inc., rather than the local Owner-Operator, is typically the tenant, which is central to the property’s appeal. Because the company is privately held and has no public credit rating, buyers rely on the lease terms and the brand’s operating record.
Chick-fil-A as a Tenant
Chick-fil-A is a family-owned chicken restaurant company led by the Cathy family. Each restaurant is run by a local Owner-Operator, but the company typically controls the real estate, so ground leases are commonly signed by Chick-fil-A, Inc. rather than the operator. The tenant entity and any guarantee can vary, so confirm both from your lease documents.
According to its 2026 franchise disclosure document, as reported in April 2026, Chick-fil-A had 3,287 U.S. locations, a mix of franchised, company-owned and licensed units, after adding 178 net new restaurants in 2025, and systemwide sales grew 5.2% to nearly $24 billion. Because the company publishes few other financial details, buyers tend to focus on the lease terms and the site itself.
- Parent company
- Chick-fil-A, Inc. (privately held, owned by the Cathy family)
- Locations
- 3,287 in the U.S., including licensed units (2026 disclosure document, reported April 2026)
- Credit rating
- Privately held; no public credit rating
- Common lease terms
- Often an absolute NNN ground lease with a 15-year initial term, several five-year renewal options and 10% increases every five years. Confirm the tenant entity, increases and any purchase rights in your lease.
- Typical site
- About 4,500 to 5,000 square feet on 1.35 to 2 acres, often with a double drive-thru
Company facts checked October 20, 2026. Sources:
What Is Your Chick-fil-A Property Worth?
Thinking about selling your Chick-fil-A property? NNN Realty can estimate its current market value by reviewing your ground lease, its rent schedule and purchase rights, recent comparable sales, and current buyer demand.
Whether you plan to sell soon or want to understand your options first, we can give you a clear, confidential assessment.
NNN Realty is not affiliated with Chick-fil-A, Inc.. Market ranges are approximate, based on listings and sales tracked through September 30, 2026, and the calculator is illustrative. Nothing here is tax, legal or investment advice.