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

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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

Cap Rates NNN
Last Year 6.6%
This Year 6.5%
Change -0.1%
S&P Rating CREDIT
Last Year BBB
This Year BBB
Change No change

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

$8,500,000

BUILDING SIZE

12,000 – 30,000 SF

AVERAGE NOI

$575,000

LAND

2.5 – 8.0 Acres

$/SF RANGE

$175 – $325

LEASE TERM SHOWN

20 years

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.

Find out more

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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.

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