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NNN Cricket Wireless for Sale
Cricket Wireless is a prepaid wireless brand owned by AT&T, which is rated BBB by S&P and Baa2 by Moody’s, both stable (AT&T investor relations). Those ratings apply to AT&T Inc., not necessarily to whoever signs a store lease, so confirm which entity signed it, whether AT&T guarantees it, how long it runs and who handles the roof and structure.
A triple net lease generally shifts property taxes, insurance and maintenance to the tenant, which can suit investors leaving hands-on real estate through a 1031 exchange. Neither The Boulder Group nor Matthews profiles Cricket Wireless, so we don’t quote a cap rate here. Call us for current pricing on a specific property.
BBB
S&P rating on AT&T Inc., Cricket’s parent
Baa2
Moody’s rating on AT&T Inc.
BBB+
Fitch rating on AT&T Inc., on rating watch negative
4,000+
Cricket stores, per Wave7 Research (April 2026)
Varies
Lease term and rent increases, set in each lease
Confirm
Lease type: ask who signed it and who handles roof and structure
Sources: AT&T investor relations, credit ratings (S&P, Moody’s, Fitch); PhoneArena, citing Wave7 Research (store count). The ratings apply to AT&T Inc., not to every entity that signs a store lease. Neither The Boulder Group nor Matthews profiles Cricket Wireless.
Key Takeaways
Rated Parent, Verify the Tenant Entity
AT&T Inc. is rated BBB by S&P and Baa2 by Moody’s, both stable (AT&T investor relations). A rating applies to the company, not to every entity that signs a lease, so confirm the tenant and any AT&T guarantee.
Lease Terms Vary by Property
Neither The Boulder Group nor Matthews publishes typical Cricket Wireless lease terms, so we don’t quote one. Under a triple net lease the tenant generally covers taxes, insurance and maintenance, but the lease controls. Read each one for the term, rent increases and who handles the roof and structure.
No Published Cap Rates
Cricket Wireless isn’t in The Boulder Group’s September 2026 profiles or Matthews’ 2026 tenant report, so we don’t show a cap rate range. Ask our team for current pricing on a specific property instead of relying on a general number.
Fiber Pivot Under Way
AT&T is reportedly adding AT&T Fiber sales to Cricket stores in 2026, though fiber will reach less than half of them because of where AT&T has built (PhoneArena, citing Wave7 Research). A changing store role is worth asking about before you buy.
Cricket Wireless NNN Cap Rates and Lease Data
If you’re weighing a Cricket Wireless property, three things shape what you’ll earn: who the tenant is, how the lease is structured and what yield you’re paying for. Cricket is different from the tenants in some of our other guides, because the standard market reports don’t cover it. Here’s what we can say with a source, and what we can’t.
On the parent, the picture is clear. S&P rates AT&T BBB and Moody’s rates it Baa2, both with a stable outlook, and Fitch rates it BBB+ with a rating watch negative.1 All three are investment grade. They are ratings on AT&T Inc., though, so they only help if the entity on your lease is AT&T or is guaranteed by it.
On the lease and the yield, we have to be straight with you. The Boulder Group’s September 2026 profiles and Matthews’ 2026 tenant report don’t include Cricket Wireless.2 That means there’s no published typical lease term, rent increase, building size or cap rate range to quote, and we won’t estimate one.
What we can do is look at a specific property with you. Ask for the lease and the offering memorandum, then compare the remaining term, rent increases and landlord duties against comparable sales. Talk to Our Team and we’ll walk through current pricing.
1. AT&T credit ratings as published by AT&T: AT&T investor relations, Debt page (Moody’s Baa2, stable; S&P BBB, stable; Fitch BBB+, rating watch negative). The same ratings appear in AT&T’s April 23, 2026 note offering term sheet. ↩
2. The Boulder Group, Net Lease Tenant Profiles, September 2026 (no Cricket profile in the table of contents; AT&T, T-Mobile and Verizon are profiled separately as different tenants); Matthews, 2026 Net Lease Tenant Report, May 2026 (no Cricket page). We checked both documents for Cricket directly. ↩
Cricket Wireless as a Tenant
How Cricket operates
Cricket is a prepaid wireless brand owned by AT&T. AT&T completed its acquisition of Leap Wireless, which operated under the Cricket brand, in March 2014 (Converge Digest).
A 2026 PhoneArena article, citing Wave7 Research, puts Cricket at more than 4,000 stores and says AT&T is preparing to sell AT&T Fiber in them (PhoneArena).
For a net lease buyer, the lease matters more than the logo. Ask who signed it: Cricket Wireless LLC, another AT&T entity or an outside operator. Then ask whether AT&T guarantees it. Without a guarantee you’re underwriting whoever signed, so the store’s history and the lease term matter more than AT&T’s rating.
Financial strength and growth
AT&T is the parent. S&P rates it BBB and Moody’s rates it Baa2, both stable, while Fitch rates it BBB+ with a rating watch negative (AT&T investor relations).
AT&T sold $6.0 billion of notes in April 2026, with the same ratings shown in the offering terms (AT&T term sheet, April 23, 2026).
What AT&T’s finances don’t tell you is how an individual Cricket store performs. We have no sourced store-level sales, so ask for the tenant’s financials and the store’s operating history.
Why Investors Buy Cricket Wireless Properties
The case for Cricket is the parent’s credit, if the lease ties back to it. With S&P at BBB and Moody’s at Baa2, both stable, AT&T sits in investment-grade territory (AT&T investor relations), which matters if your lender or your 1031 criteria call for a rated tenant. That only helps you if AT&T signed or guarantees the lease.
Under a triple net lease, the tenant generally pays property taxes, insurance and maintenance, which keeps the landlord’s role simple. Whether a given Cricket lease is truly triple net, or leaves the roof and structure with the landlord, depends on the lease, so check it before you buy.
A single-tenant Cricket property can also work as a 1031 exchange replacement property. Because neither report publishes Cricket cap rates, ask our team for current comparable sales rather than leaning on one quoted number.
Risks and Market Conditions
Credit and structure risk. AT&T’s ratings apply to AT&T Inc., while a lease may be signed by another entity. Fitch also has AT&T on rating watch negative (AT&T investor relations). Confirm the tenant, any guarantee and the remaining term.
Store and retail risk. AT&T is reportedly turning Cricket stores into AT&T Fiber sales points, though fiber will reach less than half of them (PhoneArena, citing Wave7 Research). Check the remaining term, renewal options and what a small storefront could be used for if the tenant left.
Build a Diversified NNN Portfolio
Pairing a Cricket Wireless store with other net-lease brands spreads risk across tenants, industries and markets. Compare other brands we help buyers acquire:
Cricket Wireless NNN FAQs
Who pays property expenses on a Cricket Wireless store NNN property?
In a triple net lease the tenant generally pays real estate taxes, insurance and maintenance, but the lease controls. Some net leases leave the roof and structure with the landlord, so read the lease and confirm who handles them.
Does AT&T’s credit rating back a Cricket lease?
Only if AT&T signed or guarantees it. S&P rates AT&T BBB and Moody’s rates it Baa2, both stable (AT&T investor relations). Ask who signed your lease and whether AT&T guarantees it.
How should I evaluate a Cricket store as a tenant?
Start with the lease: the signing entity, any AT&T guarantee, the remaining term, rent increases and who handles the roof and structure. Then look at the tenant’s financials and the store’s history. Neither The Boulder Group nor Matthews publishes Cricket cap rates, so ask our team for current comparable sales.
Questions about NNN Cricket Wireless Properties for Sale?
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Contact Our Team →Disclaimer
Market data, cap rates, and tenant statistics on this page come from third-party reports and company disclosures, cited in the footnotes. We believe these sources are reliable but do not guarantee their accuracy or completeness. Figures reflect the date of each source and change with market conditions, so verify current numbers before relying on them.