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NNN Domino’s for Sale
Domino’s is publicly traded (Nasdaq: DPZ) and had 22,706 stores worldwide on September 6, 2026, but about 99% are owned and operated by franchisees (Domino’s Form 10-Q). An NNN Domino’s property therefore often puts a franchisee on the lease, not Domino’s itself, so who that tenant is matters. Confirm which entity signed it, whether Domino’s 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 Domino’s, so we don’t quote a cap rate here. Call us for current pricing on a specific property.
22,706
Domino’s stores worldwide, September 6, 2026
7,257
U.S. stores: 187 company-owned, 7,070 franchised
~99%
Stores owned and operated by franchisees
+0.3%
U.S. franchise same-store sales, Q3 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: Domino’s Q3 2026 results release (store counts, same-store sales); Domino’s Form 10-Q, Q3 2026 (franchisee ownership). We did not find a corporate credit rating for Domino’s Pizza, Inc. in its filings. Neither The Boulder Group nor Matthews profiles Domino’s.
Key Takeaways
Franchisee-Run, Verify the Tenant
Domino’s Pizza, Inc. says about 99% of its stores are owned and operated by independent franchisees (Form 10-Q, Q3 2026). The tenant on your lease is therefore often a franchisee operator, not Domino’s itself. Check the operator’s size, the store’s sales and any guarantee.
Lease Terms Vary by Property
Neither The Boulder Group nor Matthews publishes typical Domino’s 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
Domino’s 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.
Growing Sales, Slow Same-Store Growth
Domino’s global retail sales rose 3.2% in the third quarter of 2026, excluding currency, but U.S. franchise same-store sales rose only 0.3% (Domino’s Q3 2026 results). Growth is coming mostly from new stores, so check the sales trend at the specific store you’re buying.
Domino’s NNN Cap Rates and Lease Data
If you’re weighing a Domino’s property, three things shape what you’ll earn: who the tenant is, how the lease is structured and what yield you’re paying for. Domino’s 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 tenant, we can describe the system but not rate it. Domino’s Pizza, Inc. is publicly traded, but about 99% of its stores are owned and operated by franchisees, and its debt is asset-backed securitized notes.1 We did not find a corporate credit rating in its filings. A franchisee’s lease isn’t a Domino’s obligation unless Domino’s guarantees it, so the operator’s own strength matters most.
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 Domino’s.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. Franchisee ownership: Domino’s Form 10-Q for the quarter ended September 6, 2026 (about 99% of global stores owned and operated by independent franchisees). Financing: Domino’s Form 10-K, fiscal 2025 (asset-backed securitization; $1.0 billion of senior secured notes issued in September 2025). We looked for a corporate credit rating in Domino’s filings and did not find one. ↩
2. The Boulder Group, Net Lease Tenant Profiles, September 2026 (no Domino’s profile in the table of contents); Matthews, 2026 Net Lease Tenant Report, May 2026 (no Domino’s page). We checked both documents for Domino’s directly. ↩
Domino’s as a Tenant
How Domino’s operates
Domino’s says it has been selling pizza since 1960 and is primarily a franchisor: about 99% of its global stores are owned and operated by independent franchisees, across more than 90 markets (Form 10-Q, Q3 2026).
On September 6, 2026 it had 22,706 stores: 7,257 in the U.S. (187 company-owned, 7,070 franchised) and 15,449 international (Q3 2026 results release). In the third quarter it added a net 175 stores worldwide, 26 of them in the U.S.
For a net lease buyer, the lease matters more than the logo. Ask who signed it: a franchisee entity, a Domino’s company-owned entity or another party. Then ask whether Domino’s guarantees it and how many stores the operator runs. The operator’s other stores can matter more than the Domino’s name.
Financial strength and growth
Global retail sales, which include sales at franchised and company-owned stores, were $14.43 billion for the first three fiscal quarters of 2026, up 3.2% excluding currency. Third-quarter U.S. retail sales rose 2.1% (Domino’s Q3 2026 results).
Domino’s refinanced in September 2025 with $1.0 billion of securitized senior notes at 4.930% and 5.217%, with anticipated repayment dates in July 2030 and July 2032 (Form 10-K, fiscal 2025).
Joe Jordan is stepping into the CEO role, according to the third-quarter release. Same-store sales rose 0.3% at U.S. franchise stores and 1.0% at U.S. company-owned stores in the quarter (Q3 2026 results release).
Why Investors Buy Domino’s Properties
The case for Domino’s is a very large, still-growing store system. It added a net 956 stores worldwide over the four quarters through September 6, 2026, 167 of them in the U.S. (Q3 2026 results release), even as same-store growth slows.
Under a triple net lease, the tenant generally pays property taxes, insurance and maintenance, which keeps the landlord’s role simple. Whether a given Domino’s 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 Domino’s property can also work as a 1031 exchange replacement property. Because neither report publishes Domino’s cap rates, ask our team for current comparable sales rather than leaning on one quoted number.
Risks and Market Conditions
Credit and structure risk. About 99% of stores are franchisee-run (Form 10-Q), so a lease is typically only as strong as the operator behind it unless Domino’s guarantees it. Confirm the signing entity, any guarantee, the operator’s other locations and the remaining term.
Sales and building risk. U.S. franchise same-store sales rose just 0.3% in the third quarter (Q3 2026 results), so check the specific store’s trend. Delivery and carryout buildings are purpose-built, so check the remaining term, renewal options and what else the building could be used for if the franchisee closed the store.
Build a Diversified NNN Portfolio
Pairing a Domino’s with other net-lease brands spreads risk across tenants, industries and markets. Compare other brands we help buyers acquire:
Domino’s NNN FAQs
Who pays property expenses on a Domino’s 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.
Who is the tenant on a Domino’s lease?
About 99% of Domino’s stores are owned and operated by franchisees (Form 10-Q), so the tenant is often a franchisee entity rather than Domino’s Pizza, Inc. Ask who signed the lease and whether Domino’s guarantees it.
How should I evaluate a Domino’s store as an investment?
Start with the lease: the signing entity, any guarantee, the remaining term, rent increases and who handles the roof and structure. Then look at the operator and the store’s sales. Neither The Boulder Group nor Matthews publishes Domino’s cap rates, so ask our team for current comparable sales.
Questions about NNN Domino’s Properties for Sale?
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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.