United Rentals NNN Investor Hub | Cap Rate Trends, Credit Rating Trends, Lease Terms & Due Diligence
Last Year Cap
6.6%
This Year Cap
6.5%
Cap Change
-0.1%
Last Year Rating
BBB
This Year Rating
BBB
Rating Change
No change
United Rentals – 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
United Rentals
United Rentals Net Lease: Secure, Essential Investment
United Rentals is the largest equipment rental company in North America and a well-established net lease tenant. This guide reviews cap rates, lease terms, tenant credit, and key due diligence considerations for buyers and sellers.
For 1031 exchange buyers, United Rentals NNN Properties and United Rentals Ground Lease Properties are important to compare against fee simple United Rentals assets, as lease structure, property functionality, and remaining lease term can materially impact pricing, financing, and long-term resale value.
Investors often target United Rentals assets for:
- Stable Industrial Demand
- Investment-Grade Tenant Credit
- Strategic Industrial Locations
- Attractive 1031 Exchange Compatibility
United Rentals Ground Lease Properties require careful evaluation of rent escalations, remaining lease term, renewal options, yard configuration, and residual land value versus fee simple ownership.
United Rentals Ground Lease Properties for 1031 Exchange Buyers
United Rentals Ground Lease Properties often trade differently than fee simple United Rentals assets. Buyers should carefully evaluate lease structure, remaining lease term, renewal options, landlord responsibilities, site functionality, outdoor storage capacity, and reversion rights to understand long-term investment risk and return.
United Rentals – 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 |
United Rentals Stock Price (NYSE: URI)
United Rentals Investment Market Statistics
AVERAGE SALE PRICE
BUILDING SIZE
AVERAGE NOI
LAND
$/SF RANGE
LEASE TERM SHOWN
United Rentals Investor Snapshot (Quick Facts)
Origins & Growth (Past)
- Founded in 1997 through a merger
- Expanded through strategic acquisitions
- Built North America’s largest rental network
- Strong industrial and construction presence
- Diversified equipment rental offerings
- Industry-leading equipment rental company
Where United Rentals Stands Today
- Largest equipment rental network
- Industry-leading market position
- Extensive North American footprint
- Primarily corporate-operated locations
- Expanding digital rental platform
- Focus on fleet utilization and efficiency
Where United Rentals Stands Today
- Increased digital rentals
- Fleet optimization initiatives
- Advanced telematics adoption
- Enhanced customer experience
- Expanded branch network
- Focus on equipment utilization
- Benefiting from infrastructure spending
Why investors buy United Rentals NNN Properties or United Rentals ground Lease Properties?
Pros (what buyers like)
- Investment-Grade Tenant Credit
United Rentals maintains an investment-grade credit profile with a leading market position. - Essential Equipment Rental Business
Demand is supported by construction, industrial, utility, and infrastructure projects. - Strategic Industrial Locations
Facilities are typically located near major highways, industrial corridors, and growing markets. - Attractive Lease Structures
Long-term NNN and ground leases appeal to passive investors and 1031 exchange buyers. - Market-Leading Operator
The largest equipment rental company in North America with an extensive branch network.
Cons (what can bite you)
- Lease Structure Variability
Some properties may have NN or modified NNN leases with landlord responsibilities. - Cyclical End Markets
Construction and industrial activity can influence equipment rental demand over time. - Limited Rent Escalations
Some leases include fixed or modest rent increases. - Specialized Property Design
Equipment yards and service facilities may require repositioning for alternative tenants. - Location-Specific Performance
Property value depends on local industrial demand, transportation access, and branch performance.
Investor Decision Framework (Buy / Hold / Sell)
✓ Strong "Buy Box" for a United Rentals Net Lease
• 10–20+ years lease term remaining (or shorter term with strong renewal options) • Absolute NNN or true NNN lease structure with minimal landlord responsibilities • High-visibility industrial location with excellent truck access • Large equipment yard with functional outdoor storage and service areas • Strong local construction and industrial demand supporting long-term operations • Market rent with scheduled escalations supporting resale value and long-term income
02
⚠ Yellow Flags (Price Accordingly)
• NN or modified NNN lease with landlord responsible for roof, structure, or parking lot • Flat rent with limited or no contractual rent escalations • Weak industrial location with limited truck access or poor visibility • Functionally obsolete facility with inadequate yard space or inefficient layout • Specialized improvements that may increase re-tenanting costs for future users
Find out more
United Rentals Background & History
United Rentals is a leading equipment rental company serving construction, industrial, utility, and infrastructure customers across North America. Since its founding, the company has expanded through strategic acquisitions and organic growth, building the industry’s largest network of equipment rental locations.
Today, United Rentals offers a broad fleet of general and specialty equipment, along with trench safety, power, fluid management, and tool solutions. Customers rely on its locations for short- and long-term rental needs that support commercial construction, manufacturing, energy, municipal, and infrastructure projects.
The company continues to invest in digital technologies, fleet optimization, and operational efficiency, allowing customers to reserve, manage, and monitor equipment while improving utilization across its nationwide branch network.
Why United Rentals Matters to NNN Investors
United Rentals operates the largest equipment rental network in North America, serving a diversified customer base across multiple industries. Its business model is supported by recurring rental demand, a broad equipment fleet, and strategically located facilities positioned near industrial hubs, transportation corridors, and major construction markets.
Many United Rentals properties include large outdoor storage yards, maintenance facilities, and excellent truck access, making them well suited for equipment distribution and servicing. The company also continues investing in fleet technology, telematics, and digital rental platforms to improve operational efficiency and customer service.
The combination of a market-leading position, investment-grade credit profile, and mission-critical industrial facilities makes United Rentals an attractive tenant within the net lease market.
What Buyers and Sellers Should Evaluate
For investors evaluating United Rentals NNN properties, a United Rentals net lease, or a United Rentals ground lease, the investment thesis is typically centered on tenant credit, industrial real estate fundamentals, and long-term operational importance. Buyers often place greater emphasis on lease structure, site functionality, and market demand than on the building itself.
Common searches include United Rentals real estate, United Rentals cap rate, United Rentals lease term, United Rentals tenant credit, and United Rentals investment property. Ultimately, property value is driven by lease economics, remaining lease term, yard configuration, transportation access, and the property’s role within the company’s operating network.
Because these facilities are highly specialized, buyers and sellers should carefully evaluate truck circulation, outdoor storage capacity, visibility, zoning, surrounding industrial development, landlord responsibilities, and future re-tenanting potential. Investors should also consider long-term cash flow stability, scheduled rent escalations, and local construction and infrastructure activity when underwriting the asset.
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 United Rentals ground lease properties or fee simple United Rentals 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.
