Quest Diagnostics NNN Investor Hub | Cap Rate Trends, Credit Rating Trends, Lease Terms & Due Diligence
Last Year Cap
6.4%
This Year Cap
6.7%
Cap Change
0.3%
Last Year Rating
BBB+
This Year Rating
BBB+
Rating Change
No change
Quest Diagnostics – 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 |
Credit (what net-lease buyers care about)
Credit Snapshot
Quest Diagnostics
Quest Diagnostics Net Lease: Secure, Essential Investment
Quest Diagnostics is a nationally recognized diagnostic testing and laboratory services provider with a strong presence in the net lease market. This guide reviews Quest Diagnostics cap rates, lease terms, tenant profile, and key due diligence considerations for buyers and sellers.
Investors often target Quest Diagnostics assets for:
- Stable Healthcare Demand
- Essential Diagnostic Services
- Long-Term Net Lease Structure
- Attractive 1031 Exchange Compatibility
Quest Diagnostics properties require careful evaluation of rent escalations, remaining lease term, renewal options, landlord responsibilities, and local healthcare demographics before underwriting an acquisition.
Quest Diagnostics Properties for 1031 Exchange Buyers
Quest Diagnostics NNN properties often trade differently than traditional retail properties because they are purpose-built healthcare facilities. Buyers should carefully evaluate lease structure, remaining lease term, renewal options, landlord responsibilities, tenant performance, and building adaptability to understand long-term risk, financing potential, and investment returns.
Quest Diagnostics – 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 |
Quest Diagnostics Stock Price (NYSE: DGX)
Quest Diagnostics Investment Market Statistics
AVERAGE SALE PRICE
BUILDING SIZE
AVERAGE NOI
LAND
$/SF RANGE
LEASE TERM SHOWN
Quest Diagnostics Investor Snapshot (Quick Facts)
Origins & Growth (Past)
• Expanded through acquisitions and organic growth
• Built a nationwide laboratory network
• Established patient service centers across the U.S.
• Invested in advanced diagnostic technologies
• Leading U.S. diagnostic testing provider
Where Quest Diagnostics Stands Today
• Extensive U.S. laboratory network
• Leading diagnostic testing provider
• High daily patient testing volume
• Primarily corporate-operated laboratories
• Expanding digital health solutions
• Focus on operational efficiency and quality
Where Quest Diagnostics Stands Today
• Expanded digital healthcare
• Increased automation & efficiency
• Growth in at-home testing
• Stronger patient engagement
• Optimized laboratory network
• Focus on diagnostic services
• Benefiting from healthcare demand
Why investors buy Quest Diagnostics NNN Properties or Quest Diagnostics ground Lease Properties?
Pros (what buyers like)
- Established healthcare tenant
Nationally recognized diagnostic testing provider with a large U.S. footprint. - Essential healthcare services
Laboratory testing generates consistent, needs-based patient demand. - Attractive real estate
Many locations are positioned in high-traffic medical and retail corridors with strong visibility. - Attractive lease structures
Long-term NNN or ground leases appeal to passive investors and 1031 exchange buyers.
Cons (what can bite you)
- Lease structure variability
Some assets are NN or modified NNN with landlord responsibilities. - Specialized medical build-out
Laboratory facilities may require significant renovations for alternative tenants. - Flat or limited rent growth
Some leases have minimal or infrequent rent escalations. - Healthcare market risk
Changes in reimbursement, testing demand, or local competition may affect long-term location performance.
Investor Decision Framework (Buy / Hold / Sell)
✓ Strong “Buy Box” for a Quest Diagnostics Net Lease
• 10–15+ years term remaining (or shorter term with strong renewal options) • Absolute NNN or clean NNN lease structure • High-visibility location in a strong medical or retail corridor • Modern laboratory or patient service center serving a dense population base • Market-supported rent with reasonable escalations supporting long-term resale and financing
02
⚠ Yellow Flags (Price Accordingly)
• NN lease (not true NNN) with landlord responsible for roof, structure, or major building systems • Flat rent with limited or no rent escalations • Older or highly specialized laboratory build-out that is difficult to re-tenant • Secondary location with weak visibility, access, or surrounding demographics • Tenant-specific laboratory improvements that may require significant capital for future reuse
Find out more
Quest Diagnostics Background & History
Quest Diagnostics is one of the largest diagnostic testing and laboratory services providers in the United States. The company offers a broad range of laboratory testing, preventive health screening, and diagnostic information services for patients, physicians, hospitals, employers, and health plans.
Since its founding, Quest Diagnostics has built a nationwide network of laboratories and patient service centers through strategic acquisitions, organic expansion, and continued investment in advanced diagnostic technologies. The company continues to expand its digital capabilities, at-home testing solutions, and data-driven healthcare services.
As demand for preventive care, chronic disease management, and diagnostic testing continues to grow, Quest Diagnostics remains well positioned within the healthcare sector by providing essential services that generate recurring patient demand and long-term occupancy.
Why Quest Diagnostics Matters to NNN Investors
Quest Diagnostics operates one of the largest diagnostic laboratory networks in the United States. Its business model is built around essential healthcare services, recurring physician referrals, and patient visits, with many locations serving as critical healthcare infrastructure within their communities.
Many Quest Diagnostics patient service centers are located in medical office buildings, healthcare campuses, and high-traffic retail corridors with excellent accessibility. Continued investment in automation, digital health technologies, and laboratory efficiency supports long-term operational performance and patient convenience.
Because diagnostic testing is an essential component of modern healthcare, Quest Diagnostics has become a highly recognized healthcare tenant within the single-tenant net lease market.
What Buyers and Sellers Should Evaluate
For investors evaluating Quest Diagnostics NNN properties, a Quest Diagnostics net lease, or a Quest Diagnostics ground lease, the investment thesis is typically centered on tenant quality, lease structure, and the long-term value of healthcare real estate. Buyers should place significant emphasis on lease economics, remaining lease term, rent escalations, and the quality of the underlying real estate.
Common searches include Quest Diagnostics real estate, Quest Diagnostics cap rate, Quest Diagnostics lease term, Quest Diagnostics tenant credit, and laboratory investment properties. Ultimately, Quest Diagnostics investment value is driven by lease structure, tenant performance, property fundamentals, and local healthcare demand.
Because laboratory facilities often include specialized medical improvements, investors should evaluate building adaptability, landlord responsibilities, visibility, surrounding demographics, referral networks, competition, and the potential costs of re-tenanting if the property becomes vacant.
In addition, buyers should consider long-term cash flow durability, demographic trends, healthcare utilization, and exit strategy when underwriting a Quest Diagnostics investment 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 Quest Diagnostics ground lease properties or fee simple Quest Diagnostics 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.