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

Qdoba

Last Year Cap

6.5%

This Year Cap

6.5%

Cap Change

0.0%

Qdoba – 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

Qdoba

Cap Rates NNN
Last Year 6.5%
This Year 6.5%
Change 0.0%
S&P Rating CREDIT
Last Year NR
This Year NR
Change No change

Qdoba Net Lease: Secure, Essential Investment

QDOBA is a well-established fast-casual Mexican restaurant brand with a growing U.S. footprint. QDOBA is owned by Modern Restaurant Concepts, a portfolio company of Butterfly Equity, and operates a predominantly franchised business model. The brand has continued to expand through experienced multi-unit franchise operators and development agreements.

For 1031 exchange buyers, QDOBA NNN Properties are important to compare against other single-tenant restaurant assets, as lease structure, franchisee strength, remaining lease term, and property fundamentals can materially impact pricing, financing, and long-term resale value.

Investors often target QDOBA assets for:

  • Stable Income Potential
  • Established Fast-Casual Restaurant Brand
  • Growing Franchise Network
  • Attractive 1031 Exchange Compatibility

QDOBA NNN Properties require close comparison of rent escalations, remaining lease term, extension options, franchisee financial strength, landlord responsibilities, and underlying real estate value versus comparable single-tenant restaurant investments.

QDOBA NNN Properties for 1031 Exchange Buyers

QDOBA NNN Properties can trade differently depending on the specific lease structure and franchisee operating the location. Buyers should carefully evaluate lease structure, remaining term, renewal options, rent increases, franchisee creditworthiness, landlord obligations, and the property’s underlying real estate fundamentals to understand long-term risk and return.

Qdoba Investment Market Statistics

AVERAGE SALE PRICE

$2,610,000

BUILDING SIZE

2,400 – 3,000 SF

AVERAGE NOI

$159,720

LAND

0.60 – 1.00 acres

$/SF RANGE

$450 – $875

LEASE TERM SHOWN

15 years

Qdoba Investor Snapshot (Quick Facts)

Origins & Growth (Past)

• Founded in 1995 in Denver, Colorado
• Started as a fast-casual Mexican restaurant concept
• Expanded across the U.S. through company-owned and franchise locations
• Built a growing national restaurant footprint
• Expanded through experienced multi-unit franchise operators
• Established as a major U.S. Mexican fast-casual restaurant brand

Where QDOBA Stands Today

• Growing U.S. fast-casual restaurant footprint
• 800+ restaurants across the U.S. and international markets
• Predominantly franchise-operated business model
• Strong pipeline of new franchise development commitments
• Expanding into traditional and non-traditional locations
• Focus on continued national growth and franchise expansion

Where QDOBA Stands Today

• Growing U.S. fast-casual restaurant footprint
• Increasing franchise-led expansion
• Strong pipeline of new restaurant development
• Continued growth in traditional and non-traditional locations
• Expanding presence across key U.S. markets
• Focus on restaurant modernization and technology
• Targeting approximately 2,000 restaurants as part of its long-term growth strategy

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

Pros (what buyers like)

  • Established restaurant brand
    Recognized fast-casual Mexican restaurant brand with a growing U.S. presence
  • Franchise-driven growth
    QDOBA continues to expand through multi-unit franchise operators, supporting long-term unit growth
  • Strong consumer demand
    Fast-casual Mexican dining provides a broadly appealing restaurant concept with made-to-order food
  • Flexible location formats
    QDOBA operates in a variety of locations, including traditional retail sites and non-traditional venues
  • Attractive lease structures
    Long-term NNN or ground leases, when available, can appeal to passive investors and 1031 exchange buyers

Cons (what can bite you)

  • Franchisee credit risk
    The financial strength of the specific franchisee is important because many QDOBA restaurants are franchise-operated
  • Lease structure variability
    Not every QDOBA property is structured as an absolute NNN or ground lease; buyers must review the individual lease carefully
  • Restaurant operating risk
    Sales and profitability can be affected by competition, labor costs, food costs, local demand, and the performance of the individual operator
  • Limited rent growth
    Some restaurant leases may have limited or infrequent rent increases, which can reduce income growth over a long holding period

Find out more

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

Qdoba Background & History

QDOBA is a well-established fast-casual Mexican restaurant brand with a growing footprint across the United States. Founded in 1995 in Denver, Colorado, the company has expanded from a regional restaurant concept into a national brand supported by a predominantly franchise-operated business model.

Over time, QDOBA has expanded through franchising, experienced multi-unit operators, and new restaurant development. The brand offers made-to-order Mexican food through a variety of restaurant formats, serving customers in traditional retail locations as well as select non-traditional venues.

As consumer preferences have shifted toward convenience, value, digital ordering, and off-premise dining, QDOBA has adapted through digital ordering capabilities, restaurant technology, menu development, and continued expansion into new markets.

Why QDOBA Matters to NNN Investors

QDOBA can be relevant to NNN investors because individual restaurants can provide exposure to an established fast-casual restaurant brand through long-term net lease structures. The investment thesis, however, depends heavily on the specific property, lease, and franchisee rather than the QDOBA brand alone.

Many QDOBA properties are positioned in established retail corridors and commercial areas designed to provide convenient access and customer visibility. Restaurant sites may also feature drive-thru or other access characteristics, depending on the location and property format.

QDOBA’s continued franchise expansion can support demand for additional restaurant locations. For NNN investors, this makes the underlying real estate, lease quality, franchisee financial strength, and location fundamentals particularly important when evaluating an individual property.

What Buyers and Sellers Should Evaluate

For investors evaluating QDOBA NNN properties, a QDOBA net lease, or a QDOBA ground lease, the investment thesis is typically centered on real estate quality, lease structure, franchisee strength, and remaining lease term. Buyers should not assume that a lease with a QDOBA location represents a corporate-guaranteed obligation; the specific tenant and guarantor named in the lease must be reviewed carefully.

Common searches include QDOBA real estate, QDOBA cap rate, QDOBA lease term, QDOBA tenant credit, and QDOBA NNN properties. Ultimately, QDOBA net lease value is driven by site-specific factors, lease economics, tenant or franchisee strength, and the property’s long-term usability.

As the fast-casual restaurant sector continues to evolve, the strongest QDOBA locations tend to be those with good visibility, convenient access, strong surrounding demographics, and sustainable customer demand. Buyers and sellers should evaluate each property individually, including ingress and egress, visibility, traffic patterns, population density, nearby competition, sales performance where available, and lease language defining landlord responsibilities.

In addition, investors should consider rent escalations, remaining lease term, renewal options, franchisee financial strength, property condition, and potential re-tenanting costs. These factors can materially affect long-term cash-flow durability, resale value, and the property’s suitability for a 1031 exchange.

Corporate vs. Franchise | Store Count

QDOBA operates primarily under a franchise-based model, with restaurants operated by independent franchisees as well as company-operated locations. For NNN and ground lease investors, this means the specific franchisee and lease guarantor should be carefully reviewed, rather than assuming the lease is directly backed by QDOBA's corporate entity. QDOBA has a growing restaurant footprint of 800+ locations, including restaurants across the United States and select international markets. For investors, the total store count is less important than the financial strength of the franchisee, lease structure, remaining term, rent escalations, and quality of the underlying real estate.

Qdoba Financial Snapshot

Qdoba operates as a privately held fast-casual restaurant brand focused on Mexican-inspired food, including customizable burritos, bowls, tacos, and other menu offerings. Unlike Wells Fargo, Qdoba is not a publicly traded standalone company, so investors should not evaluate it using a public-company stock or investment-grade credit profile. For net lease investors, Qdoba’s franchise network, store-level performance, lease structure, and the financial strength of the specific tenant or guarantor are key factors when evaluating lease reliability and long-term income stability.

Qdoba Lease Types

Qdoba properties may be structured as NNN, NN, or ground leases, with terms and landlord responsibilities varying by property. Many locations are operated through franchise agreements, so the specific tenant, guarantor, and lease structure should be verified for each asset. As a result, buyers should carefully review lease structure, tenant/guarantor, expense responsibilities, rent escalations, and remaining term before underwriting and pricing.

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 Qdoba ground lease properties or fee simple Qdoba 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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