Average cap rate of commercial real estate in the U.S. 2024, by property type

Published by Statista Research Department, Apr 23, 2025

Dollar stores with single tenant net leases in the United States had an average cap rate of 7.34 percent as of the fourth quarter of 2024. That made them the property type with the second-highest cap rate. Conversely, convenience stores had a cap rate of 5.5 percent, the lowest among the property types observed. 

Triple net leases (NNN) are single tenant leases, where in addition to rent and utilities, the tenant is responsible for the additional property expenses, including taxes, insurance, and maintenance. These leases are common for office, retail, industrial, and logistics properties.

Average cap rate of commercial real estate in the United States in 4th quarter 2024, by property type

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Release date

February 2025

Region

United States

Survey time period

Q4 2024

Number of respondents

494 respondents

Special properties

single tenant net leases

Supplementary notes

Other retail includes grocery stores, cellular stores, mattresses, fitness centers, and other store types that do not fit into the listed categories.

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Commercial real estate in the U.S.Foreign property investment in the U.S.Office real estate in the U.S.Industrial and logistics real estate in the U.S.Commercial real estate in the United Kingdom
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