Market Data

Net lease news

Friday, October 2, 2026

Market Read

Asking cap rates held. The cushion over Treasuries didn't.

10-year since the Jun 30 survey
+82 bps
4.44% → 5.26%, FRED DGS10
overall spread on Jun 30
238 bps
6.82% median asking minus 4.44%, Boulder Q2 2026 / FRED
retail spread now
134 bps
6.60% median asking minus 5.26%

Underwriting takeawayPrice off today's 10-year, not June's survey: at flat asks, the premium over Treasuries is 82 bps thinner.

Boulder Group Net Lease Research Q2 2026; FRED DGS10, daily close.

10-year Treasury

5.29%▲ 117 bps

Sep 30, 2026 · FRED DGS10 · End-of-day, not a live quote

4.04.55.05.55.29

This product uses the FRED® API but is not endorsed or certified by the Federal Reserve Bank of St. Louis.

Cap rate by sector

  • Overall6.82%
  • Retail6.60%
  • Industrial7.25%
  • Office7.90%

The Boulder Group Net Lease Research Report, Q2 2026 · Jun 30, 2026. Gold ticks mark the prior quarter when that change is stored.

Top briefs

All briefs
JLL IPT pays $90M for Worcester Industrial. Connect CRE
JLL IPT pays $90M for Worcester Industrial
Representative photo of a generic off-price junior-anchor store in a power center, blank facadeRepresentative image
Burlington Stores Inks 32K SF at Brooklyn Navy Yard’s Admirals Row Campus
Orion Buys Food Lion-Anchored Shopping Center in Boone, North Carolina for $26.1M. REBusinessOnline
Orion Buys Food Lion-Anchored Shopping Center in Boone, North Carolina for $26.1M
ScoreOM

Free OM analyzer: drop in an OM, get a deal score in about a minute

ScoreOM pulls the numbers out of an offering memorandum, rebuilds NOI with vacancy and reserves, and scores the deal 0 to 100. Free, no card needed.

ScoreOM
Representative photo of a neighborhood strip shopping center with a row of small storefronts and blank sign bands, parking lot in frontRepresentative image
Dhanani Private Equity Group Welcomes New Tenants to San Antonio Shopping Center
Representative photo: End-cap unit of a strip center with outdoor seating, late afternoonRepresentative image
Atlantic Capital Partners Negotiates $10.2M Sale of Shopping Center in Springfield, Massachusetts
SRS Real Estate Brokers $27.5M Sale of Value-Add Retail Property in Santa Clarita, California. REBusinessOnline
SRS Real Estate Brokers $27.5M Sale of Value-Add Retail Property in Santa Clarita, California

NNN Numbers

Rates and sources

Weekly market figures. Each number keeps the date and source it was saved with.

Boulder Group STNL cap rates
Property typeRelative levelCap rateChange
NNN median ask (Boulder, Q2 2026)6.82%+2 bps
Retail cap6.60%+5 bps
Industrial cap7.25%+10 bps

The Boulder Group Net Lease Research Report, Q2 2026 (published Jun 30, 2026). Quarterly.

Deal Sheet

All sourced deals

Calculators

All 23 calculators →
Cap RateDetermine capitalization rate from NOI and property value.NOICalculate net operating income from revenue and operating expenses.Cash-on-CashCalculate the annual return on cash invested in a property.DSCRDetermine the debt service coverage ratio for loan qualification.IRREstimate the internal rate of return over the hold period.Loan PaymentCalculate monthly mortgage payments including principal and interest.Loan-to-ValueCalculate LTV to see leverage and loan eligibility.Rent EscalationProject future rent payments with annual escalation rates.
Partner toolScreen a full deal with ScoreOMPull the numbers out of an offering memorandum.

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