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ATI Physical Therapy NNN Investor Hub | Cap Rate Trends, Credit Rating Trends, Lease Terms & Due Diligence

ATI Physical Therapy NNN Properties, ATI Physical Therapy Ground Lease Properties, ATI Physical Therapy net lease, ATI Physical Therapy cap rates, ATI Physical Therapy lease terms, ATI Physical Therapy tenant credit, ATI Physical Therapy real estate, 1031 exchange, NNN properties, ground lease properties

Last Year Cap

6.7%

This Year Cap

7.0%

Cap Change

0.3%

ATI Physical Therapy – NNN Cap Rate Trend

Cap Rate Trends

wdt_ID wdt_created_by wdt_created_at wdt_last_edited_by wdt_last_edited_at Tenant Year Cap Rate
5779 admin2 2026 04:17 AM admin2 2026 04:17 AM 7 Brew 2,020 6.5
5780 admin2 2026 04:17 AM admin2 2026 04:17 AM 7 Brew 2,021 6.3
5781 admin2 2026 04:17 AM admin2 2026 04:17 AM 7 Brew 2,022 6.0
5782 admin2 2026 04:17 AM admin2 2026 04:17 AM 7 Brew 2,023 6.3
5783 admin2 2026 04:17 AM admin2 2026 04:17 AM 7 Brew 2,024 6.6
5784 admin2 2026 04:17 AM admin2 2026 04:17 AM 7 Brew 2,025 6.6
Tenant Year Cap Rate
1031 Exchange
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Credit (what net-lease buyers care about)

Credit Snapshot

ATI Physical Therapy

Cap Rates NNN
Last Year 6.7%
This Year 7.0%
Change 0.3%
S&P Rating CREDIT
Last Year NR
This Year NR
Change NO CHANGE

ATI Physical Therapy Net Lease: Secure, Essential Investment

ATI Physical Therapy is a leading outpatient physical therapy provider with a substantial network of clinics across the United States. For NNN and net lease investors, ATI properties can offer exposure to healthcare-oriented real estate supported by an established operating platform.

Investors may consider ATI properties for:

  • Healthcare-Oriented Tenant Use
  • Established Clinic Locations
  • Potentially Long-Term Lease Income
  • 1031 Exchange Compatibility

ATI Physical Therapy net lease properties require careful review of lease terms, renewal options, landlord responsibilities, tenant credit, and the property’s alternative-use potential.

ATI Physical Therapy Net Lease Properties for 1031 Exchange Buyers

ATI properties can trade differently depending on location, lease structure, remaining term, and tenant financial strength. Buyers should compare NNN, NN, or modified NNN structures, review contractual rent increases, and evaluate the underlying real estate independently.

For 1031 exchange investors, important considerations include lease durability, clinic location quality, tenant obligations, re-tenanting potential, and long-term resale value.

ATI Physical Therapy Investment Market Statistics

AVERAGE SALE PRICE

$845,000 – $1,299,000

BUILDING SIZE

2,951 – 5,474 SF

AVERAGE NOI

$63,365 – $105,630

LAND

0.32 – 0.74 Acre

$/SF RANGE

$154 – $431/SF

LEASE TERM SHOWN

10 years

ATI Physical Therapy Investor Snapshot (Quick Facts)

Origins & Growth (Past)

  • Founded in 1996 in Willowbrook, Illinois
  • Started with a single physical therapy clinic
  • Expanded through new clinic openings and acquisitions
  • Grew from a regional provider into a national network
  • Expanded services into sports medicine, hand therapy, and workers’ compensation rehabilitation
  • Added digital and virtual care through ATI CONNECT™
 

Where ATI Physical Therapy Stands Today

  • 850+ locations across the United States
  • Extensive outpatient physical therapy network
  • Provides evidence-based, patient-centered rehabilitation
  • Offers physical therapy, sports medicine, hand therapy, and workers’ compensation services
  • Uses standardized clinical guidelines and operating processes
  • Serves patients through physical clinics and virtual care

 

Where ATI Physical Therapy Stands Today

  • 30 years of industry experience in 2026
  • More than 850 clinics across 25 states
  • Focused on musculoskeletal and physical therapy services
  • Continues investing in clinical research and technology
  • Expanded access through digital and virtual treatment
  • Returned to private ownership in August 2025
 

Why investors buy ATI Physical Therapy NNN Properties or ATI Physical Therapy ground Lease Properties?

Pros (what buyers like)

  • Essential healthcare services
    Recurring demand for physical therapy and rehabilitation.
  • Established healthcare platform
    Large outpatient therapy network with an established operating history.
  • Convenient locations
    Clinics often serve established population centers and retail corridors.
  • Long-term income potential
    Longer leases can support predictable cash flow for passive and 1031 buyers.
  • Functional property footprints
    Smaller clinic spaces can offer flexibility for healthcare or alternative uses.
  • Potential resale appeal
    Well-located healthcare properties with strong lease terms may attract future net lease buyers.

Cons (what can bite you)

  • Tenant credit risk
    Buyers should review ATI’s current financial strength and lease guaranty.
  • Lease structure variability
    Some assets may be NN or modified NNN with landlord responsibilities.
  • Healthcare competition
    Local clinics and healthcare providers may compete for patients.
  • Re-tenanting challenges
    Specialized medical build-outs may require costly conversion for a new tenant.
  • Lease rollover risk
    Shorter remaining terms can increase renewal and vacancy risk.
  • Location-specific performance risk
    Patient demand and clinic performance can vary significantly by local market.

Find out more

ATI Physical Therapy NNN Properties, ATI Physical Therapy Ground Lease Properties, ATI Physical Therapy net lease, ATI Physical Therapy cap rates, ATI Physical Therapy lease terms, ATI Physical Therapy tenant credit, ATI Physical Therapy real estate, 1031 exchange, NNN properties, ground lease properties

ATI Physical Therapy Background & History

ATI Physical Therapy is a nationally recognized provider of outpatient physical therapy and rehabilitation services. Founded in 1996, ATI has grown from a single clinic into a large nationwide healthcare platform serving patients through physical therapy, rehabilitation, sports medicine, workers’ compensation, hand therapy, women’s health, and other specialty services.

Over time, ATI expanded its clinic network while developing standardized clinical processes, evidence-based treatment programs, and technology-supported care. The company also offers online and hybrid physical therapy options, allowing patients to access care beyond traditional in-clinic visits.

Why ATI Physical Therapy Matters to NNN Investors

ATI is relevant to net lease investors because physical therapy represents an essential healthcare service with recurring patient demand. Its clinics are generally positioned to serve surrounding residential populations, medical referral networks, employers, and local healthcare markets.

For NNN and ground lease investors, the quality of the underlying real estate remains an important consideration. Properties with convenient access, good visibility, adequate parking, strong surrounding demographics, and established healthcare trade areas may offer stronger long-term investment characteristics.

What Buyers and Sellers Should Evaluate

For investors evaluating an ATI Physical Therapy NNN property, ATI net lease, or ATI ground lease, the investment analysis should focus on lease structure, tenant credit, remaining lease term, rent growth, property quality, and the long-term suitability of the location.

Buyers should carefully review whether the lease is absolute NNN, NNN, NN, or modified NNN and identify any landlord obligations for roof, structure, parking, HVAC, or other capital items. Remaining lease term, renewal options, rent escalations, and guaranty provisions should also be considered during underwriting.

Common factors include ATI real estate, ATI cap rate, ATI lease term, ATI tenant credit, and clinic location quality. Ultimately, the value of an ATI net lease property depends on the specific lease economics and real estate fundamentals rather than the tenant name alone.

For 1031 exchange buyers, ATI NNN properties and ATI ground lease properties should be compared based on cash-flow durability, lease structure, remaining term, escalation provisions, landlord responsibilities, financing considerations, and potential resale demand.

Corporate vs. Franchise | Store Count

Wells Fargo operates under a fully corporate-owned model, with no franchising. For NNN and ground lease investors, this means leases are typically directly backed by the corporate entity, making the lease obligor straightforward and reducing credit ambiguity. In the U.S., Wells Fargo operates 4,000+ branch locations, giving it one of the largest banking footprints nationwide. For investors, tenant credit, lease structure, and branch location quality often matter more than total store count.

ATI Physical Therapy Financial Snapshot

ATI Physical Therapy is a privately held healthcare company following its transition from public to private ownership in August 2025. The company provides outpatient physical therapy and rehabilitation services through its nationwide clinic network, supported by additional specialty and virtual care offerings. Because ATI is privately held, investors should focus on the specific lease guaranty, tenant financial information available during due diligence, remaining lease term, rent escalations, and property-level fundamentals rather than relying on public-company financial metrics.

ATI Physical Therapy Lease Types

ATI Physical Therapy properties can have different lease structures depending on the individual deal. For NNN investors, some opportunities may be structured as NNN, NN, or modified NNN leases, so the actual lease should be reviewed carefully. Buyers should evaluate remaining term, renewal options, rent escalations, roof and structure responsibilities, HVAC and other capital obligations, and any corporate guaranty provisions. For ground lease opportunities, investors should additionally review the land lease term, rent structure, renewal rights, and reversion provisions before underwriting and pricing the property.

our team of experts are here for you

Our team helps investors evaluate NNN properties with practical, market-based guidance. In addition, we support buyers and sellers with lease review, pricing analysis, and due diligence strategy.

Whether you are comparing ATI Physical Therapy ground lease properties or fee simple ATI Physical Therapy assets, we can help you review the details that affect risk and long-term value. As a result, clients can make more confident decisions based on lease structure, location quality, and investment goals.

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