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

Facebook Linkedin Instagram Youtube Blog
Menu
GET A QUOTE

Goodwill NNN Investor Hub | Cap Rate Trends, Credit Rating Trends, Lease Terms & Due Diligence

Last Year Cap

7.2%

This Year Cap

7.6%

Cap Change

0.4%

Goodwill – 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

Goodwill

Cap Rates NNN
Last Year 7.2%
This Year 7.6%
Change 0.4%
S&P Rating CREDIT
Last Year NR
This Year NR
Change NO CHANGE

Goodwill Net Lease: Secure, Essential Investment

Goodwill is a nationally recognized nonprofit retail and workforce-development organization with a broad network of local operators across the U.S. This guide covers cap rates, lease terms, tenant strength, property quality, and key due diligence considerations for buyers and sellers.

For 1031 exchange buyers, Goodwill NNN properties can offer stable income potential, established retail locations, recognized branding, and attractive exchange compatibility. However, each property should be evaluated based on its specific lease and real estate fundamentals.

Goodwill NNN Properties for 1031 Exchange Buyers

Investors should carefully evaluate remaining lease term, rent escalations, renewal options, landlord responsibilities, tenant financial strength, location quality, re-tenanting potential, and resale value. These factors can materially affect pricing, financing, long-term income stability, and overall investment returns.

Goodwill Investment Market Statistics

AVERAGE SALE PRICE

$3,500,000

BUILDING SIZE

15,000 – 20,000 SF

AVERAGE NOI

$225,000

LAND

0.75 – 1.5 acres

$/SF RANGE

$150 – $267

LEASE TERM SHOWN

15 years

Goodwill Investor Snapshot (Quick Facts)

Origins & Growth (Past)

  • Founded in 1902 by Rev. Edgar J. Helms
  • Started in Boston’s South End
  • Built its model around collecting, repairing and reselling donated goods
  • Expanded into a nationwide network of independent Goodwill organizations
  • Mission centered on employment, education and economic opportunity
 

Where Goodwill Stands Today

  • 150 local Goodwill organizations across the U.S. and Canada
  • More than 3,400 retail and outlet stores
  • Approximately 140,000 employees
  • More than 2.1 million people served in 2024
  • More than 650 career centers
  • 82% of the U.S. population lives within 10 miles of a Goodwill store

Where Goodwill Stands Today

    • Continued growth in career and employment services
    • Strong retail and online resale operations
    • Growing focus on digital skills and workforce development
    • Expansion of education, training and credential programs
    • Increasing emphasis on the circular economy and reuse

Why investors buy Goodwill NNN Properties or Goodwill ground Lease Properties?

Pros (what buyers like)

  • Established nonprofit brand
    Recognized Goodwill name with a broad retail footprint.
  • Essential community use
    Supports employment, job training and workforce programs.
  • Strong local recognition
    Established stores can benefit from recurring community traffic.
  • NNN lease potential
    Can provide passive ownership when operating expenses are passed to the tenant.
  • Mission-driven tenant
    Retail operations support Goodwill’s employment and community programs.

 

Cons (what can bite you)

 
  • Organization-specific credit
    Each Goodwill is independently operated, so tenant financial strength must be evaluated individually.
  • Lease rollover risk
    Expiring leases can create renewal and income uncertainty.
  • Re-tenanting challenges
    Larger specialty retail spaces may require significant capital to convert.
  • Limited rent growth
    Some leases may have flat or modest annual escalations.
  • Location risk
    A weaker trade area can make the property harder to re-lease.

Find out more

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

Goodwill Background & History

Goodwill is a nonprofit organization best known for its network of retail stores, donation centers, career centers, and workforce-development programs across the United States and Canada. Goodwill was founded in 1902 by Reverend Dr. Edgar J. Helms, who developed a model in which donated goods were collected, repaired, and sold to help create employment opportunities.

Over more than a century, Goodwill evolved from a local social enterprise into a large network of independently operated community organizations. Today, Goodwill Industries International supports approximately 150 local Goodwill organizations, each with its own local leadership and operations.

Goodwill’s retail model remains closely connected to its mission. Donated merchandise is sold through thousands of retail and outlet locations as well as online marketplaces, with revenue helping fund employment services, job training, education, and career-development programs.

Why Goodwill Matters to NNN Investors

Goodwill can be relevant to NNN investors because its properties combine a recognized national brand with established retail locations and community-oriented demand. Goodwill operates more than 3,400 retail and outlet stores across the U.S. and Canada, and its 2024 impact report indicates that approximately 82% of the U.S. population lives within 10 miles of a Goodwill store.

The business model is supported by recurring consumer activity, donated-goods supply, and workforce-development services. In 2024, Goodwill organizations helped more than 2.1 million people build skills, access resources, and advance their careers.

For real estate investors, however, the specific property and local Goodwill organization matter more than the national brand alone. Goodwill locations are operated by independent regional organizations with their own CEOs, boards, policies, and programs. Therefore, investors should evaluate the actual tenant entity named in the lease rather than treating every Goodwill location as having identical financial strength.

What Buyers and Sellers Should Evaluate

For a Goodwill NNN or ground lease, investors should focus on property quality, lease structure, tenant strength, and remaining lease term.

Key factors include cap rate, rent escalations, NNN responsibilities, location, visibility, traffic, parking, and re-tenanting potential.

Because Goodwill operates through independent local organizations, buyers should also review the financial strength of the specific lease obligor.

Finally, evaluate renewal potential, rent growth, lease rollover risk, and resale value before pricing the property.

Corporate vs. Franchise | Store Count

Goodwill is not a traditional corporate/franchise chain. It operates through a network of independent local Goodwill organizations. Goodwill Industries International supports more than 150 local organizations across the U.S. and Canada, with nearly 3,400 retail and outlet stores. Each local organization is independently governed and operates within its own market. For NNN and ground lease investors, this means the actual lease obligor and its financial strength should be reviewed carefully rather than relying solely on the national Goodwill brand.

Goodwill Financial Snapshot

Goodwill operates as a network of independent nonprofit organizations rather than a single publicly traded corporation. Its retail model generates revenue from donated merchandise sold through thousands of stores and online marketplaces, helping fund job training, employment services, and community programs. In 2024, Goodwill organizations supported more than 2.1 million people, with nearly 140,000 employees across nearly 3,400 retail and outlet stores. For net lease investors, the financial strength of the specific local Goodwill organization named in the lease is an important consideration when evaluating lease reliability and long-term income stability.

Goodwill Lease Types

Goodwill properties can be structured under NNN, modified NNN, or other lease arrangements depending on the specific property and local Goodwill organization. Lease terms and landlord responsibilities can vary significantly by deal. Investors should carefully review the lease to determine responsibility for taxes, insurance, maintenance, roof, structure, parking areas, and other capital expenditures. Remaining lease term, renewal options, rent escalations, and the financial strength of the actual lease obligor should all be evaluated 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 Goodwill ground lease properties or fee simple Goodwill 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