Q2 2023 Net Lease Cap Rate Report

• Properties with sale prices under $2.5 million have seen a 28 basis point increase in cap rates over the past year.
• Properties with sale prices ranging from $2.5 million to $6.5 million experienced a more substantial increase of 37 bps.
• Properties with sale prices exceeding $6.5 million witnessed a significant jump of 55 bps.
• Convenience stores experienced the smallest shift in cap rates among all retail sectors, with a minimal change of 5 bps quarter-to-quarter.
• Cap rates for retail banks show compression among on-market properties quarter-to-quarter, which can be attributed to longer lease terms being offered.

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