Tel          : 202-361-3050
E:  info@nnndeals.com

Facebook Linkedin Instagram Youtube Blog
Menu
GET A QUOTE

CareNow Urgent Care NNN Investor Hub | Cap Rate Trends, Credit Rating Trends, Lease Terms & Due Diligence

Last Year Cap

6.5%

This Year Cap

6.8%

Cap Change

0.3%

Last Year Rating

BBB-

This Year Rating

BBB-

Rating Change

No change

CareNow Urgent Care – 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
See Active Listing
Get Off Market Deals

Credit (what net-lease buyers care about)

Credit Snapshot

CareNow Urgent Care

Cap Rates NNN
Last Year 6.5%
This Year 6.8%
Change 0.3%
S&P Rating CREDIT
Last Year BBB-
This Year BBB-
Change No change

CareNow Urgent Care Net Lease: Secure, Essential Investment

CareNow Urgent Care is a leading urgent care provider owned by HCA Healthcare, one of the largest healthcare systems in the United States. While CareNow itself is not independently credit rated, investors evaluate these properties based on the financial strength and investment-grade credit profile of HCA Healthcare. This guide reviews CareNow cap rates, lease structures, tenant credit, and key due diligence considerations for buyers and sellers.

For 1031 exchange buyers, CareNow Urgent Care properties offer exposure to the growing outpatient healthcare sector. Many locations feature long-term NNN leases in high-traffic retail corridors, making them attractive for investors seeking stable income backed by a nationally recognized healthcare operator.

Investors often target CareNow Urgent Care assets for:

  • Stable Income Potential
  • Investment-Grade Parent Company (HCA Healthcare)
  • Growing Outpatient Healthcare Demand
  • Attractive 1031 Exchange Compatibility

CareNow Urgent Care Properties for 1031 Exchange Buyers

CareNow Urgent Care properties have become increasingly attractive among net lease investors as demand for outpatient healthcare services continues to expand. Many locations operate under long-term NNN leases and benefit from high-visibility retail locations with strong traffic counts and convenient access.

CareNow Urgent Care – Credit Trend (S&P vs Moody’s)

Tenant_Rating_Trend

wdt_ID wdt_created_by wdt_created_at wdt_last_edited_by wdt_last_edited_at TenantKey Tenant Year Moody SP Moody_Grade SP_Grade Moody_GradeRank SP_GradeRank
1 admin2 2025 03:43 PM admin2 2025 03:43 PM 7eleveninc 7-Eleven, Inc. 2022 Baa2 A Lower Medium Grade Upper Medium Grade 5 6
2 admin2 2025 03:43 PM admin2 2025 03:43 PM 7eleveninc 7-Eleven, Inc. 2023 Baa2 A Lower Medium Grade Upper Medium Grade 5 6
3 admin2 2025 03:43 PM admin2 2025 03:43 PM 7eleveninc 7-Eleven, Inc. 2024 Baa2 A Lower Medium Grade Upper Medium Grade 5 6
4 admin2 2025 03:43 PM admin2 2025 03:43 PM 7eleveninc 7-Eleven, Inc. 2025 Baa2 A Lower Medium Grade Upper Medium Grade 5 6
5 admin2 2025 03:43 PM admin2 2025 03:43 PM 99centsonlystoresllc 99 Cents Only Stores, LLC 2022 Caa2 CCC+ Substantial Risk Substantial Risk 2 2
TenantKey Tenant Year Moody SP Moody_Grade SP_Grade Moody_GradeRank SP_GradeRank

CareNow Urgent Care Investment Market Statistics

AVERAGE SALE PRICE

$7,500,000

BUILDING SIZE

3,500 – 6,500 SF

AVERAGE NOI

$425,000

LAND

0.75 – 2.00 acres

$/SF RANGE

$500 – $900

LEASE TERM SHOWN

15-20 years

CareNow Urgent Care Investor Snapshot (Quick Facts)

Origins & Growth (Past)

  • Founded in 1993 in the Dallas–Fort Worth area
  • Expanded across multiple U.S. states through organic growth and acquisitions
  • Acquired by HCA Healthcare in 2014, accelerating national expansion
  • Established clinics in high-traffic retail corridors and suburban communities
  • Expanded digital services with online check-in, virtual care, and integrated patient access
  • One of the largest urgent care networks in the United States, with 200+ locations serving patients seven days a week

Where CareNow Urgent Care Stands Today

  • One of the largest urgent care providers in the U.S.
  • Operated by HCA Healthcare, an investment-grade healthcare company
  • More than 200 locations across multiple states
  • Primarily corporate-operated clinics with standardized operations
  • Expanding digital services, including online check-in and virtual care
  • Focused on convenient, same-day outpatient healthcare and continued network growth

Where CareNow Stands Today

  • Market Expansion
  • Digital Scheduling
  • Virtual Care
  • Corporate Backing
  • Retail Clinics
  • Outpatient Growth
  • Healthcare Demand

Why investors buy CareNow Urgent Care NNN Properties or CareNow Urgent Care ground Lease Properties?

Pros (what buyers like)

  • Strong Healthcare Platform
    Backed by HCA Healthcare, one of the nation’s largest investment-grade healthcare providers.
  • Essential Medical Services
    Urgent care offers convenient, non-emergency healthcare with consistent year-round patient demand.
  • Growing Outpatient Demand
    Healthcare continues shifting toward outpatient settings, supporting long-term clinic utilization.
  • Prime Retail Locations
    Many clinics are located on signalized intersections and major retail corridors with excellent visibility.
  • Attractive Lease Structures
    Many properties feature long-term NNN or ground leases that appeal to passive investors and 1031 exchange buyers.

Cons (what can bite you)

  • Lease Structure Variability
    Some locations may be NN or modified NNN, leaving landlords responsible for certain building expenses.
  • Healthcare Competition
    Competition from hospitals, physician groups, and other urgent care operators can affect individual locations.
  • Limited Rent Growth
    Some leases include fixed or modest rent escalations that may not fully offset inflation.
  • Tenant-Specific Improvements
    Medical build-outs can increase re-tenanting costs if the property becomes vacant.
  • Market Selection Matters
    Long-term performance depends on local demographics, population growth, and healthcare demand.

Find out more

CareNow Urgent Care Background & History

CareNow Urgent Care NNN Properties, CareNow Ground Lease Properties, CareNow Net Lease, CareNow Cap Rate, CareNow Tenant Credit, CareNow Lease Term, CareNow Real Estate, CareNow 1031 Exchange, HCA Healthcare NNN Property, Medical NNN Property, Urgent Care NNN Property, Healthcare Net Lease Investment

CareNow Urgent Care is one of the largest urgent care providers in the United States and is owned by HCA Healthcare, a leading investment-grade healthcare organization. Founded in 1993, CareNow has expanded across multiple states by providing convenient, walk-in medical services for non-life-threatening illnesses and injuries.

Today, CareNow clinics offer a broad range of outpatient healthcare services, including urgent care, occupational medicine, physical exams, vaccinations, laboratory testing, and diagnostic imaging. Most locations are strategically positioned within high-traffic retail corridors and growing suburban communities, making healthcare easily accessible for patients.

As consumer demand continues to shift toward convenient, same-day medical care, CareNow has expanded its digital capabilities through online check-in, virtual visits, and integrated patient scheduling. Supported by HCA Healthcare’s operational expertise and financial strength, the company continues to grow its outpatient healthcare network across the country.

Why CareNow Urgent Care Matters to NNN Investors

CareNow operates within one of the fastest-growing segments of the healthcare industry. Unlike discretionary retail businesses, urgent care centers provide essential medical services that generate consistent patient demand regardless of economic cycles.

Many CareNow properties occupy highly visible retail locations with strong traffic counts and convenient access, supporting long-term operational performance. Investors also benefit from the financial strength of HCA Healthcare, whose investment-grade credit profile enhances the perceived stability of many CareNow net lease properties.

The combination of essential healthcare services, growing outpatient demand, and long-term lease structures has made CareNow an increasingly attractive tenant for 1031 exchange buyers and passive net lease investors seeking durable income.

What Buyers and Sellers Should Evaluate

For investors evaluating CareNow Urgent Care NNN properties, CareNow net leases, or CareNow ground lease properties, the investment thesis is centered on healthcare demand, real estate quality, lease structure, and the financial strength of HCA Healthcare. Buyers should evaluate each asset based on both the underlying real estate and the long-term viability of the medical location.

Common searches include CareNow cap rate, CareNow lease term, CareNow tenant credit, CareNow NNN property, and CareNow ground lease. Property values are influenced by lease economics, remaining lease term, rent escalation schedule, site quality, and local healthcare demographics.

Investors should carefully review lease structure, landlord responsibilities, remaining lease term, renewal options, rent growth, and market fundamentals. Additional due diligence should include traffic counts, visibility, surrounding population growth, nearby healthcare competition, and the property’s long-term adaptability. These factors play a significant role in determining cash-flow durability, financing, resale value, and overall investment performance.

Corporate vs. Franchise | Store Count

CareNow Urgent Care operates under a fully corporate-owned model as a subsidiary of HCA Healthcare, with no franchised locations. For NNN and ground lease investors, this means leases are generally backed by the corporate operating entity or an HCA Healthcare affiliate, providing greater transparency in tenant operations and reducing franchise-related credit risk. Across the United States, CareNow operates 200+ urgent care centers in multiple states and continues to expand through new developments and strategic acquisitions. For investors, the overall number of locations is less important than the strength of the lease guaranty, remaining lease term, healthcare market fundamentals, and the quality of the underlying real estate.

CareNow Urgent Care Financial Snapshot

CareNow Urgent Care is owned by HCA Healthcare, an investment-grade, publicly traded healthcare company with billions in annual revenue and strong operating cash flow. Its financial strength and diversified healthcare operations support long-term lease obligations. For net lease investors, HCA Healthcare's credit quality, scale, and stable healthcare business enhance the reliability of CareNow Urgent Care leases and long-term income stability.

CareNow Urgent Care Lease Types

Most single-tenant CareNow Urgent Care properties are structured as long-term NNN or ground leases, though lease terms vary by property. Some assets may be NN or modified NNN, with limited landlord responsibilities such as roof or structure. Buyers should carefully review the lease structure, expense responsibilities, rent escalations, and remaining lease term before underwriting and pricing the investment.

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 CareNow Urgent Care ground lease properties or fee simple CareNow Urgent Care 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.

Contact Us
Scroll to Top