Whitepaper
Turning QMI Data Into Actionable Land Insights
PDF
Landchecks leverages Quick Move-In (QMI) home inventory as a real-time indicator of how builders are currently pricing and underwriting residential product. By converting residual land value indications into lot-level economics, users evaluate implied lot pricing by product type.
"The methodology is intentionally transparent and repeatable, allowing users to understand each step of the process and apply professional judgment where appropriate."
Methodology Report
Powered by Landfinder AI
Turning QMI Data Into
Actionable Land Insights
A transparent, market-driven workflow designed to help users move quickly from residential market data to supported land value insights using real-time builder pricing.
01
Market-Based QMI Collection
Aggregation of Quick Move-In (QMI) inventory to reflect active builder pricing behavior.
- Inventory Counts
- Average Asking Prices
- Average BSF Metrics
02
Translating Supportability
Residual allocation framework evaluating land contribution across three market conditions.
RURAL (17%)
TRANSITION (22%)
INFILL (27%)
03
Lot-Level Metrics
Converting residual outputs into frontage-based economics to reflect common residential product types.
04
Macro to Micro Analysis
Location-specific decision making anchored to 1, 3, or 5-mile radius reports.
Florida Q4 2025 Key Findings
CASE STUDY
Statewide Baseline Stability
Florida QMI data establishes a stable benchmark for pricing, density, and land contribution before narrowing into localized site conditions.
Landchecks Insight
Use statewide data as the "starting line" to establish baseline expectations for pricing and density.
CBSA Sensitivity Variance
Land value sensitivity increases materially in urbanized CBSAs. Small changes in residual assumptions (Rural vs. Infill) impact larger metros significantly.
Landchecks Insight
In high-growth CBSAs, small assumption shifts can materially change supported land values—prioritize local analysis.
Frontage & Density Tradeoffs
Narrower lot configurations show stronger land support on a per-front-foot basis in infill scenarios, while wider products remain more sensitive to BSF assumptions.
Landchecks Insight
Test product mix scenarios early to understand how density decisions affect land feasibility before detailed site design.
The Value Proposition
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Market-driven inputs replacing historical sales lag.
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Transparent residual framework for sanity-checking assumptions.
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Designed for speed, consistency, and professional insight.
"Landchecks is not intended to replace professional judgment, but to provide the tools to back into raw land values more efficiently."
2026 Operational Protocol
© 2026 Landchecks Methodology • Residential Residual Analysis
Proprietary Methodology
Powered by LandfinderAI
Landchecks Methodology:
Turning QMI Data Into Actionable Land Insights
LandfinderAI - Landchecks is designed to help users move quickly and consistently from residential market data to supported land value insights. Rather than relying solely on limited comparable land sales, Landchecks leverages Quick Move-In (QMI) home inventory as a real-time indicator of how builders are currently pricing and underwriting residential product.
"The methodology is intentionally transparent and repeatable, allowing users to understand each step of the process and apply professional judgment where appropriate."
01
Market-Based QMI Data Collection
Landchecks begins with the aggregation of QMI inventory across defined geographies, including statewide, CBSA-level, and user-defined submarkets. QMI homes are particularly valuable because they reflect active builder pricing, not historical outcomes.
Key Metrics Identified:
- • Typical QMI inventory counts
- • Average asking prices
- • Average Buildable Square Footage (BSF)
02
Translating Home Prices Into Land Supportability
Once pricing and BSF benchmarks are established, Landchecks applies a residual allocation framework to estimate potential developed lot values. The analysis evaluates land contribution under three common market conditions:
Rural Markets
Transitioning Markets
Infill Markets
03
Converting Residual Outputs Into Lot-Level Metrics
To make the analysis practical, Landchecks converts residual land value indications into lot-level economics. This is accomplished by dividing potential developed lot values by most likely frontage widths.
User Capabilities:
- • Evaluate implied lot pricing by product
- • Compare density strategies
- • Test frontage-based feasibility
04
Macro to Micro Analysis for the End User
Built for location-specific decision-making. Users can generate reports based on a 1-, 3-, or 5-mile radius, anchored to a latitude/longitude, ZIP code, or site location.
"Perform site-specific sensitivity analysis using consistent, market-based inputs."
What Landchecks Does — and Does Not — Do
Landchecks is not intended to replace professional judgment, nor does it attempt to produce a single “answer” for land value. Instead, it provides:
- Current, Market-Driven Inputs
- Transparent Residual Framework
- Consistent Lot-Level Outputs
- Fast Sanity-Check Tool
Designed for Speed, Consistency, and Insight
By combining QMI inventory data, pricing benchmarks, residual logic, and frontage-based outputs into a single workflow, Landchecks enables users to back into raw land values more efficiently and with greater market context. Whether evaluating a potential acquisition, testing feasibility, or supporting valuation conclusions, Landchecks gives appraisers, developers, and homebuilders a faster way to understand land support value.
Key Findings: Q4 2025 Florida QMI Residual Analysis
1
Statewide QMI Data Establishes a Reliable Residual Baseline
At the statewide level, QMI inventory provides a stable benchmark for understanding how builders are currently underwriting residential product across Florida. Average buildable square footage and asking prices indicate that, even at a macro level, there is sufficient consistency to support residual-based land analysis.
Landchecks Insight: Statewide QMI data is most effective as a starting point—establishing expectations for pricing, density, and land contribution before applying more localized assumptions.
2
Residual Sensitivity Varies Meaningfully Across CBSAs
When applying the rural (17%), transitioning (22%), and infill (27%) residual allocations, the analysis shows that land value sensitivity increases materially in more urbanized CBSAs. The difference between assumptions produces a substantially wider range of potential developed lot values compared to peripheral metros.
Landchecks Insight: In higher-growth CBSAs, small changes in residual assumptions can materially impact supported land values, reinforcing the importance of location-specific analysis.
3
Larger CBSAs Show Stronger Alignment Between BSF and Lot Supportability
CBSAs with higher average BSF and pricing levels generally support higher developed lot values across all residual scenarios. This suggests builders in these markets are underwriting larger homes with greater land cost tolerance.
Landchecks Insight: In primary Florida metros, residual land support is more closely tied to product size and pricing power.
4
Secondary and Emerging CBSAs Exhibit Tighter Residual Ranges
In smaller or emerging CBSAs, the spread between rural, transitioning, and infill residual outputs is typically narrower. The reduced sensitivity indicates that pricing discipline and absorption risk play a larger role than land scarcity alone.
Landchecks Insight: For these markets, Landchecks is most valuable for confirming whether a proposed land price aligns with achievable product pricing.
5
Frontage-Based Outputs Highlight Density Tradeoffs
Dividing residual land values by most likely frontage widths reveals that narrower lot configurations tend to show stronger land support on a per-front-foot basis. Wider frontage products remain viable but are more sensitive to pricing assumptions.
Landchecks Insight: Frontage-based analysis allows users to quickly test product mix scenarios and understand density decisions before advancing to detailed site design.
6
Macro Data Becomes More Powerful When Paired With Micro Location Analysis
The variation observed across markets reinforces the importance of micro-location analysis. The same residual framework produces very different outcomes once applied to a specific 1-, 3-, or 5-mile radius.
Landchecks Insight: This is where Landchecks provides the greatest value—moving from broad context to site-specific land value support.
7
Residual Analysis Complements Active Land Listings
In addition to QMI data, LandfinderAI tracks active land listings nationwide. This comparison helps identify where land is potentially overpriced, underpriced, or appropriately positioned.
Landchecks Insight: Residual outputs are most effective when evaluated alongside active land listings, reinforcing disciplined acquisition decisions.
Workflow Integration
Residual analysis using QMI data is not about producing a single land value conclusion. Instead, Landchecks enables appraisers, developers, and homebuilders to back into raw land values with greater speed, consistency, and market awareness.
Market-Driven Inputs
Transparent Scenarios
Frontage-Based Outputs
RetailSageAI
Analytics Portal
Integrated residential and retail intelligence powered by the LandfinderAI methodology.
Platform Research
Intelligence is Priceless
Whitepaper
National Pulse Check: Single-Tenant QSR Real Estate
PDF
Single-tenant Quick Serve Restaurant (QSR) real estate continues to prove itself as one of the most resilient asset classes. After analyzing 96 active QSR listings across 26 states, a clear picture emerges of disciplined pricing and modest yield compression.
At a national level, the clustering of cap rates around 5.33% signals strong buyer confidence despite broader economic noise. Site quality remains paramount—corner locations command tighter cap rates due to enhanced ingress/egress and visibility.
Geographic Consistency
Whether in primary growth states or secondary markets, QSR assets are being underwritten with remarkably similar expectations. This speaks to the maturity of the asset class and drive-through demand fundamentals.
Well-located QSR real estate remains a preferred parking place for both private and institutional investors, rewarding clarity, durability, and simplicity in site selection.
Market Pulse
2026 QSR Real Estate Report
A National Pulse Check on
Single-Tenant QSR
Analyzing 96 Listings Across 26 States
|
By Chris Worley
Average NOI
$182,000
Predictable Cash-Flow
Average Cap Rate
5.33%
High Efficiency Clustering
Market Reach
26 States
National Data Pool
Market Resilience & Yield Compression
Single-tenant Quick Serve Restaurant (QSR) real estate continues to prove itself as one of the most resilient and liquid asset classes in today's investment landscape. The analysis reveals a clear picture defined by disciplined pricing, modest yield compression, and a continued investor preference for simplicity, visibility, and operational durability.
"The market is rewarding clarity, durability, and simplicity. Freestanding buildings and well-positioned sites continue to anchor buyer interest."
Site Analysis & Pricing Drivers
Corner Advantage
Corner locations command slightly lower perceived risk, with cap rates averaging marginally tighter than their non-corner counterparts.
Fundamental Uniformity
Whether in primary or secondary markets, QSR assets are underwritten with remarkably similar expectations across the U.S.
The QSR "Triple Box"
Investors are no longer just chasing the headline cap rate. Right now, the QSR sector is a preferred parking place for capital because it checks three critical boxes:
Site Quality
Tenant Strength
Long-term Relevance
© 2026 Landchecks • Market Intelligence Unit
Market Intelligence
National Pulse Series
A National Pulse Check on
Single-Tenant QSR Real Estate
Analyzing 96 Listings Across the U.S.
By Chris Worley (LandfinderAI – Landchecks)
Average NOI
$182,000
Predictable Cash-Flow
Asking Cap Rate
5.33%
High Market Efficiency
Data Reach
26 States
National Pulse Sample
What 96 Active Listings Reveal About Pricing, Risk, and Investor Appetite Across the U.S.
Single-tenant Quick Serve Restaurant (QSR) real estate continues to prove itself as one of the most resilient and liquid asset classes in today’s investment landscape. After analyzing 96 active QSR listings across 26 states, a clear picture emerges—one defined by disciplined pricing, modest yield compression, and a continued investor preference for simplicity, visibility, and operational durability.
At a national level, the average Net Operating Income (NOI) sits at approximately $182,000, reinforcing the role of QSR assets as predictable cash-flow vehicles rather than speculative appreciation plays. Correspondingly, asking capitalization rates are clustering tightly around 5.33%, signaling strong buyer confidence and a market that remains highly efficient despite broader economic noise. This cap-rate stability underscores the ongoing appeal of long-term leases, national or regional credit tenants, and essential-use retail.
Site Characteristics & Visibility
Site characteristics continue to play a nuanced—but meaningful—role in pricing. Corner locations command slightly lower perceived risk, with cap rates averaging marginally tighter than their non-corner counterparts. While the difference is subtle, it reflects a familiar truth in retail real estate: visibility, ingress/egress, and traffic flow still matter.
"Investors may tolerate marginally lower yields in exchange for enhanced real-world performance and long-term tenant viability."
Geographic Consistency
What’s particularly notable is how consistent pricing remains across geographies. Whether in primary growth states or secondary markets, QSR assets are being underwritten with remarkably similar expectations. This speaks to the maturity of the asset class and the widespread institutional understanding of QSR fundamentals—drive-through demand, smaller footprints, labor efficiency, and strong unit-level economics.
The Underlying Narrative
Broker representation varies widely, but the underlying narrative does not: the market is rewarding clarity, durability, and simplicity. Freestanding buildings and well-positioned sites continue to anchor buyer interest, while assets requiring operational nuance or site compromise face more scrutiny.
The STNL Cornerstone
In short, the single-tenant QSR sector remains a cornerstone of net-lease investing. The data confirms what many in the industry already sense—capital is still flowing, risk is still being priced rationally, and well-located QSR real estate remains a preferred parking place for both private and institutional investors.
"As always, the story isn’t just in the headline cap rate—it’s in the intersection of site quality, tenant strength, and long-term relevance. And right now, QSR checks all three boxes."
QSR
Verified Growth Class
Site Quality
Tenant Strength
Relevance
RetailSageAI
Analytics Portal
Integrated submarket and single tenant retail brand analysis powered by LandfinderAI and Landchecks methodologies.
Platform Research
Intelligence is Priceless
© 2026 Landchecks • Methodology Release
National QSR Data Transmission Active
Market Snapshot
Top 5 Single Tenant Listing Brokers in the US
PDF
We've examined 1,647 listings totaling $6.32 billion. The leading five brokers accounted for 781 listings worth an aggregate $3.15 billion, boasting an average asking price of $2.4 million and a cap rate of 6.2%.
Volume Leader
Marcus & Millichap leads with 257 listings ($1.01 billion), suggesting a broad national footprint.
Premium Focus
Cushman & Wakefield excels in higher-value deals with an average asking price of $4.75 million.
Market Intelligence
90-Day Snapshot: Nov 2025 – Feb 2026
Top 5 Single Tenant
Retail Power Brokers
Analyzing 781 listings worth an aggregate $3.15 Billion. A comprehensive look at the firms dominating the STNL space and where they hold the most leverage.
Volume Leader
Marcus & Millichap
Listings257
Avg Cap6.54%
Aggregate$1.01B
Premium Play
Cushman & Wakefield
Listings106
Avg Cap5.24%
Avg Price$4.75M
Listings164
Avg Cap7.12%
Avg Price$3.11M
SE Specialist
Atlantic Capital
Listings123
Avg Cap5.67%
Aggregate$523M
Listings131
Avg Cap5.89%
Avg Price$4.62M
Sector Specialists
QR
Quick Service (QSR)
Best: Cushman (4.63% Cap)
AU
Auto Repair
Best: SRS RE (5.32% Cap)
BK
Branch Bank
Best: Matthews (4.35% Cap)
CS
C-Store
Best: Cushman (5.12% Cap)
Regional Hotspots
Top Transaction States
Texas
139 Listings
Florida
114 Listings
Texas and Florida account for nearly a third of the total listing volume, with Florida seeing ultra-competitive cap rates (~5.3%).
Choosing the Right Broker
No single broker is "best" universally—it depends on your asset. Cushman & Wakefield consistently shines for premium, low-cap deals. Marcus & Millichap excels in volume and mid-market power, making them ideal for high-velocity requirements across national portfolios.
Total Market Value
$6.32B
Total Active Listings
1,647
Average Asking Price
$3.9M
© 2026 Landchecks • Brokerage Performance Snapshot
Brokerage Intelligence
Market Performance Report
Top 5 Single Tenant Listing Brokers in the US:
A 90-Day Snapshot (Nov 21, 2025 - Feb 20, 2026)
As we near completion of February 2026, the single-tenant net lease (STNL) market continues to show robust activity, driven by investor demand for stable, long-term yields in a fluctuating economic landscape.
In this analysis, we've examined 1,647 listings totaling $6.32 billion, with an average asking price of $3.9 million. Focusing on the top performers, the leading five brokers accounted for 781 listings worth an aggregate $3.15 billion, boasting an average asking price of $2.4 million and a cap rate of 6.2%. These powerhouses—Atlantic Capital Partners, Cushman & Wakefield, Marcus & Millichap, Matthews, and SRS RE—dominate the space, representing nearly half of the total volume.
Drawing from proprietary data, this article breaks down their overall market presence and then dives into a subtype analysis across key sectors: Auto Repair, Branch Bank, Convenience Store (C-Store), Grocer, and Quick Service Restaurant (QSR). The goal? To highlight strengths, uncover niche dominances, and help investors or sellers identify the "best" broker fit based on property type. While "best" is subjective—factoring in cap rates, NOI, deal velocity, and market reach—this quasi-comparative lens offers actionable insights.
Overall Market Power: The Big Picture
These five brokers collectively command significant influence in the STNL arena, with Marcus & Millichap leading in volume (257 listings) and Cushman & Wakefield excelling in higher-value deals (average asking price of $4.75 million). Here's a snapshot:
| Brokerage |
Count |
Aggregate Value |
Avg Cap |
Avg NOI |
Avg Price |
| Atlantic Capital Partners |
123 |
$523,954,232 |
5.67% |
$245,809 |
$4,259,791 |
| Cushman & Wakefield |
106 |
$499,141,591 |
5.24% |
$245,331 |
$4,753,729 |
| Marcus & Millichap |
257 |
$1,013,023,224 |
6.54% |
$247,108 |
$3,957,122 |
| Matthews |
164 |
$507,974,201 |
7.12% |
$212,587 |
$3,116,406 |
| SRS RE |
131 |
$606,251,476 |
5.89% |
$238,761 |
$4,627,874 |
| Grand Total (Sum/Avg.) |
781 |
$3,150,344,724 |
6.24% |
$238,050 |
$4,049,286 |
Key Insights on Overall Power
- Volume Leader: Marcus & Millichap stands out with the highest listing count (257) and aggregate value ($1.01 billion), suggesting a broad national footprint and efficiency in handling mid-market deals. Their higher average cap rate (6.54%) appeals to yield-focused investors, though it may indicate slightly riskier or less premium assets.
- Premium Play: Cushman & Wakefield edges out in average asking price ($4.75 million) and boasts the lowest cap rate (5.24%), signaling a focus on blue-chip, investment-grade properties. With global resources, they're a go-to for institutional clients seeking stability.
.
- Value-Oriented: Matthews offers the highest cap rate (7.12%) and lowest average NOI ($212,587), positioning them as specialists in opportunistic or value-add listings. Their 164 listings show strong mid-tier market penetration.
- Balanced Performers: Atlantic Capital Partners and SRS RE round out the group with solid averages around $4.2-4.6 million per listing. Atlantic's slightly lower cap rate (5.67%) hints at premium positioning, while SRS RE's aggregate ($606 million) reflects expertise in high-traffic retail.
Overall, these brokers control a disproportionate share of the market, leveraging networks, data analytics, and sector expertise. Marcus & Millichap's sheer scale gives them "power broker" status, but Cushman & Wakefield's premium focus might translate to faster closings for high-value sellers.
Subtype Analysis: Niche Strengths and "Best Fit" Recommendations
To go deeper, we segmented listings by subtype, revealing specialized edges. For each category, we compare metrics to spotlight leaders. If you're selling or buying in these areas, consider brokers with high volume (for market intel) or low cap rates (for premium pricing).
1. Auto Repair
This sector saw steady activity, with cap rates reflecting moderate risk due to tenant stability (e.g., national chains like Jiffy Lube).
| Brokerage |
Count |
Aggregate |
Avg Cap |
Avg NOI |
Avg Price |
| Atlantic Capital Partners | 6 | $28,470,000 | 6.28% | $302,242 | $4,745,000 |
| Cushman & Wakefield | 7 | $27,419,000 | 5.41% | $214,021 | $3,917,000 |
| Marcus & Millichap | 29 | $106,162,705 | 5.97% | $215,197 | $3,660,783 |
| Matthews | 13 | $35,114,733 | 7.23% | $194,063 | $2,701,133 |
| SRS RE | 6 | $16,462,000 | 5.32% | $147,901 | $2,743,667 |
Analysis & Best Fit: Marcus & Millichap dominates volume (29 listings, $106 million aggregate), ideal for sellers wanting broad exposure. However, SRS RE and Cushman & Wakefield offer the lowest cap rates (5.32% and 5.41%), suggesting better pricing for premium auto repair assets. Recommendation: Go with Marcus for high-volume plays; Cushman for top-dollar exits.
2. Branch Bank
Bank branches remain a safe bet with strong credit tenants, yielding lower cap rates.
| Brokerage |
Count |
Aggregate |
Avg Cap |
Avg NOI |
Avg Price |
| Atlantic Capital Partners | 3 | $11,324,000 | 6.08% | $227,220 | $3,774,667 |
| Cushman & Wakefield | 6 | $28,797,000 | 4.97% | $239,615 | $4,799,500 |
| Marcus & Millichap | 5 | $19,670,000 | 7.35% | $277,388 | $3,934,000 |
| Matthews | 1 | $4,942,529 | 4.35% | $215,000 | $4,942,529 |
| SRS RE | 1 | $5,833,000 | 6.00% | $350,000 | $5,833,000 |
Analysis & Best Fit: Cushman & Wakefield leads in count (6) and aggregate ($28.8 million), with a low 4.97% cap rate indicating premium bank deals. Matthews' single listing shines with the lowest cap (4.35%), but limited volume. Recommendation: Cushman for institutional bank sales; Marcus for diversified options despite higher caps.
3. Convenience Store (C-Store)
C-Stores thrive on location-driven traffic, with cap rates varying by brand strength.
| Brokerage |
Count |
Aggregate |
Avg Cap |
Avg NOI |
Avg Price |
| Atlantic Capital Partners | 6 | $25,002,623 | 6.35% | $255,707 | $4,167,104 |
| Cushman & Wakefield | 16 | $106,557,000 | 5.12% | $344,844 | $6,659,813 |
| Marcus & Millichap | 15 | $73,643,278 | 5.38% | $257,678 | $4,909,552 |
| Matthews | 10 | $41,508,678 | 5.59% | $221,221 | $4,150,868 |
| SRS RE | 13 | $62,802,000 | 5.43% | $248,023 | $4,830,923 |
Analysis & Best Fit: Cushman & Wakefield tops volume (16) and aggregate ($106 million), with the lowest cap (5.12%) for high-value, branded C-Stores. Marcus follows closely in count. Recommendation: Cushman for major chains like 7-Eleven; SRS RE for balanced regional plays.
4. Grocer
Grocers anchor essential retail, commanding higher prices but varied caps.
| Brokerage |
Count |
Aggregate |
Avg Cap |
Avg NOI |
Avg Price |
| Atlantic Capital Partners | 4 | $20,033,000 | 4.88% | $249,956 | $5,008,250 |
| Cushman & Wakefield | 3 | $14,948,000 | 5.73% | $284,000 | $4,982,667 |
| Marcus & Millichap | 3 | $50,874,769 | 5.18% | $923,209 | $16,958,256 |
| Matthews | 3 | $14,527,171 | 6.37% | $323,110 | $4,842,390 |
| SRS RE | 2 | $8,052,000 | 6.13% | $239,161 | $4,026,000 |
Analysis & Best Fit: Marcus & Millichap's high average price ($16.9 million) and NOI suggest big-box grocer expertise (e.g., Kroger or Aldi). Atlantic's low cap (4.88%) points to premium listings. Recommendation: Marcus for large-scale grocers; Atlantic for yield-optimized deals.
5. Quick Service Restaurant (QSR)
QSRs like McDonald's drive-thrus are hot, with caps reflecting brand loyalty.
| Brokerage |
Count |
Aggregate |
Avg Cap |
Avg NOI |
Avg Price |
| Atlantic Capital Partners | 21 | $83,631,000 | 5.32% | $210,615 | $3,982,429 |
| Cushman & Wakefield | 35 | $151,570,951 | 4.63% | $199,351 | $4,330,599 |
| Marcus & Millichap | 44 | $136,855,051 | 6.02% | $180,659 | $3,110,342 |
| Matthews | 18 | $50,961,312 | 5.87% | $161,855 | $2,831,184 |
| SRS RE | 37 | $146,834,075 | 5.28% | $206,450 | $3,968,489 |
Analysis & Best Fit: Marcus & Millichap leads count (44), but Cushman & Wakefield edges aggregate ($151 million) with the lowest cap (4.63%) for franchise heavyweights. SRS RE is close in volume (37). Recommendation: Cushman for blue-chip QSRs; SRS RE for fast-casual or regional chains.
Geographic Insights: Where the Action Is in STNL Listings
Diving into the state-level breakdown of these 781 listings reveals clear patterns in market concentration, regional expertise, and pricing dynamics. Texas and Florida emerge as undisputed hotspots, accounting for 139 and 114 listings respectively—nearly a third of the total volume. North Carolina (64), California (35), and South Carolina (34) round out the top five states, highlighting a Southeast and Sunbelt bias likely driven by population growth, business-friendly climates, and investor appetite for stable retail assets.
Market Hotspots
139
Texas Listings
114
Florida Listings
Brokerage Footprints and Regional Strengths
Each broker exhibits distinct geographic profiles, which can guide sellers in selecting a partner with proven local muscle:
Atlantic Capital Partners
Heavily concentrated in the Southeast with 15 states covered. Top markets: North Carolina (38 listings, 5.59% avg cap, $4.52M avg price), Florida (31, 5.36%, $4.40M), South Carolina (23, 5.52%, $3.74M). This regional focus suggests deep networks in growing Southern markets, ideal for sellers in NC, FL, or SC seeking competitive cap rates around 5-6%.
Cushman & Wakefield
Spans 23 states with a balanced national presence but strong Sunbelt tilt. Top: Texas (32, 5.07%, $5.21M), Florida (25, 4.94%, $5.18M), California (7, 5.11%, $5.78M). Their lower caps in premium states like FL (4.94%) and TX (5.07%) point to expertise in high-value, institutional-grade deals—perfect for West Coast or Southern sellers prioritizing top pricing.
Marcus & Millichap
The broadest reach with 38 states, embodying true national power. Top: Texas (55, 6.37%, $4.77M), Florida (28, 5.92%, $4.70M), California (12, 5.85%, $7.81M). With volume dominance in key states, they're suited for sellers needing wide exposure, though caps trend higher (e.g., 5.92% in FL), indicating a mix of mid-market and opportunistic assets.
Matthews
Covers 33 states with a dispersed footprint, leaning Midwest and South. Top: Texas (22, 7.22%, $2.18M), Pennsylvania (13, 7.21%, $4.11M), Indiana (11, 7.02%, $3.73M). Higher average caps (7.22% in TX) and lower prices suggest a value-oriented approach, making them strong for regional plays in PA, IN, or smaller TX deals.
SRS RE
Active in 30 states, mirroring Cushman with Sunbelt and West emphasis. Top: Texas (27, 5.76%, $4.68M), Florida (22, 5.02%, $4.94M), California (13, 5.29%, $6.78M). Competitive caps in FL (5.02%) and CA (5.29%) highlight retail expertise, great for coastal or high-traffic assets.
Cap Rate Variations and Market Nuances
Cap rates show regional risk-reward dynamics: Lower in high-demand states like Florida (overall ~5.3% across brokers) and California (~5.5%), reflecting premium valuations, while higher in areas like Mississippi (19.38% for Marcus & Millichap's 2 listings) or Arkansas (7.95% for Marcus). Outliers include ultra-low 4.15% in Rhode Island (Atlantic) for stable assets and high 10.75% in New Jersey (Marcus) for potentially riskier ones.
Texas Premium (Cushman)
5.07%
Florida Value (Matthews)
7.22%
Florida (relevant for locals like those in Tarpon Springs): Cushman again lowest (4.94%), SRS close (5.02%), indicating better exits for high-quality properties here.
Final Thoughts: Choosing the Right Broker
General Thoughts: No single broker is "best" universally— it depends on your asset. For premium, low-cap deals across subtypes, Cushman & Wakefield consistently shines. Marcus & Millichap excels in volume and mid-market power, making them ideal for velocity. If you're in Auto Repair or QSR, their depth stands out. Atlantic and SRS RE offer balanced, niche strengths, while Matthews appeals for higher-yield opportunities.
Geography matters—match your property's location to a broker's stronghold for faster sales and better terms. For national portfolios, Marcus & Millichap's scale wins; for Southeast focus, Atlantic shines. In Florida, where activity is booming, Cushman or SRS RE could maximize value with their low-cap prowess.
"This state data underscores the STNL market's regional vitality. If your asset is in TX or FL, you're in a seller's paradise. As the STNL market evolves, partnering with these leaders can maximize exposure and returns."
Market Context Summary
Aggregated STNL Portfolio
$6.32B
Snapshot: Feb 20, 2026
RetailSageAI
Power Broker Analytics
Automated analysis of submarkets and power brokers using LandfinderAI and Landchecks proprietary data engines.
Platform Research
Intelligence is Priceless
© 2026 Landchecks • Brokerage Performance Snapshot
National Brokerage Intel Active
Builder Intelligence
Lennar Homes: Q1 2026 QMI Inventory Analysis
PDF
Surveying 4,522 QMI homes across 8 states, Lennar's data highlights a strategic shift toward compact lots (avg 45' FF) to enhance density. Florida remains a powerhouse with 1,193 homes tracked at an average price of $474,417.
State Allocation Summary (Rural/Infill)
Inventory Intelligence
Q1 2026 Analysis
Lennar Homes
Quick Move-In (QMI) Inventory Analysis
Avg Asking Price
$400,532
$193.79 / BSF
Homes Tracked
4,522
Avg size (BSF)
2,038 SF
Avg Lot Width
45' Frontage
Infill Lot Value
$108,144
State-Level Residual Analysis
| State |
Count |
Avg BSF |
Asking Price |
Transition (22%) |
Infill (27%) |
| Florida | 1,193 | 2,166 | $474,417 | $104,372 | $128,093 |
| Nevada | 320 | 2,485 | $622,198 | $136,883 | $167,993 |
| Texas | 1,422 | 1,883 | $280,014 | $61,603 | $75,604 |
| Arizona | 596 | 2,031 | $475,425 | $104,593 | $128,365 |
| Tennessee | 201 | 2,165 | $459,929 | $101,184 | $124,181 |
Narrow Lot Trends
A strategic shift toward compact, efficient designs (averaging 40'-48') is driving density and improving affordability in high-pressure markets.
North Carolina
40' FF
Texas
43' FF
Residual Allocation
Rural Market
17%
Transitioning Zone
22%
Infill / Urban Core
27%
Florida CDD Intelligence
Recent Lot Purchase Activity (Past 6 Months as of Q1 2026)
Active Acquisition Phase
Connerton East
Pasco County | Tampa Metro
$46k (40')
$62k (50')
$73k (60')
Massive 1,274-acre district entitled for 2,215 units. Lennar acquiring bulk entitled lots.
Highland Trails
Dade City | Pasco County
$68k (40')
$85k (50')
Shared with D.R. Horton. $8,000/lot true-up at home closing.
McKendree Pointe
Wesley Chapel
$124k (50' SF)
$65k (TH)
Premium pricing reflecting Wesley Chapel's booming exurban appeal.
Market Intelligence Conclusion
Lennar's Q1 2026 data confirms a significant land value premium in infill-heavy metros (27% allocation) like Las Vegas and Miami. Their density-focused strategy (sub-50' lots) allows for containment of finished lot costs while maximizing unit yield in high-growth Sun Belt corridors.
Strategic Motto
"Land is Local.
Intelligence is Priceless."
© 2026 Landchecks • Homebuilder Performance Snapshot
Builder Intelligence Report
Market Sector: Residential
Lennar Homes:
Quick Move-In Inventory Analysis
Tracked Inventory
4,522 Homes
Avg Home Size
2,038 SQ FT
Analysis Summary
Lennar Homes, one of the nation's largest homebuilders and a consistent top-two player by volume (delivering tens of thousands of homes annually and holding significant market share in key metros), focuses on a diverse portfolio including entry-level, move-up, and multigenerational designs.
Based on a survey of their Quick Move-In (QMI) inventory across 8 states in the first quarter of 2026, the data highlights insights into home sizes, pricing, and lot allocations. A total of 4,522 QMI homes were tracked, with an average building square footage (BSF) of 2,038 sq ft, an average front footage (FF) of 45 feet, and an average asking price of $400,532. This translates to an average price per BSF of $193.79.
Q1 2026 STATE LEVEL ANALYSIS
| State |
Count |
Avg BSF |
Avg FF |
Avg Price |
Price/BSF |
Rural Lot |
Trans. Lot |
Infill Lot |
| AL | 321 | 1,553 | 48 | $249,053 | $162.71 | $42,339 | $54,792 | $67,244 |
| AZ | 596 | 2,031 | 46 | $475,425 | $239.51 | $80,822 | $104,593 | $128,365 |
| FL | 1,193 | 2,166 | 45 | $474,417 | $212.45 | $80,651 | $104,372 | $128,093 |
| GA | 212 | 2,139 | 44 | $408,179 | $192.65 | $69,391 | $89,799 | $110,208 |
| NC | 257 | 2,182 | 40 | $411,147 | $192.32 | $69,895 | $90,452 | $111,010 |
| NV | 320 | 2,485 | 47 | $622,198 | $253.37 | $105,774 | $136,883 | $167,993 |
| TN | 201 | 2,165 | 43 | $459,929 | $214.80 | $78,188 | $101,184 | $124,181 |
| TX | 1,422 | 1,883 | 46 | $280,014 | $150.05 | $47,602 | $61,603 | $75,604 |
| Grand Total |
4,522 |
2,038 |
45 |
$400,532 |
$193.79 |
$68,090 |
$88,117 |
$108,144 |
Notably, the majority of these homes feature lot widths below the traditional 50-foot benchmark, indicating a strategic shift toward compact, efficient designs that enhance density, control costs, and improve affordability. Lot value allocations: Rural (17%), Transitioning (22%), Infill (27%).
Alabama Overview
Lennar Homes' Alabama QMI inventory totals 321 homes, averaging a compact 1,553 sq ft, positioning Alabama as one of Lennar's most affordable markets. Developed lot values estimated at $42,339 rural to $67,244 infill.
Market Snapshot:
- Birmingham-Hoover (Volume Lead) 79 Homes
- Daphne-Fairhope-Foley (Premium) $319,691
- Markets: Cullman, Decatur, Talladega, Tuscaloosa
Florida Overview
Florida represents Lennar's second-largest QMI market with 1,193 homes. Averaging a spacious 2,166 sq ft on 45-foot front footage with $474,417 asking prices. Infill lot values statewide reach $128,093.
Market Snapshot:
- Tampa-St. Pete (Volume Lead) 225 Homes
- Miami-Fort Lauderdale (Highest PSF) $366.26/SF
- Markets: Orlando, Jacksonville, Naples, Ocala
Florida CDD Intelligence
Lennar Homes' Recent Lot Purchase Activity (Past 6 Months)
Highland Trails (Pasco)
Purchasing 342 lots. 40' lots at $68,000; 50' lots at $85,000. Plus $8,000/lot true-up at closing. Shared with D.R. Horton.
Connerton East (Pasco)
Massive 1,274-acre district. Entitled for 2,215 units. Buying villa lots at $45,185 and 60' lots at $73,304. scale in US 41 corridor.
New Port Corners (Pasco)
Lennar buying mix: $58,346 (25' TH) up to $96,642 (60' SF). Land acquired in 2023 for $12.2M.
McKendree Pointe (Wesley Chapel)
Under contract for TH lots at $65,000/lot and 50' lots at $124,000/lot. Fast booming I-75 corridor.
Pinery (Lake County)
Large 1,071-acre project entitled for 3,000 units. Purchasing 50' lots at $2,200/FF (with 5% escalator).
Southcreek (Punta Gorda)
Acquiring 50' lots at $124,000 and TH lots at $65,000 in Assessment Area 3.
Lennar's CDD activity centers on Pasco County (Highland Trails, Connerton, New Port Corners, McKendree) for high-volume mixed product, alongside strategic entries in Lake Wales (Hunt Club Grove) and Haines City (Groves at Lake Marion).
Georgia Snapshot
212 QMI homes averaging 2,139 sq ft at $408,179. Atlanta leads volume (87 homes) at $468,161. Infill lot values in metro Atlanta reach $126,403.
Nevada Snapshot
Highest-priced market ($622,198 avg). Las Vegas dominates (268 homes). Infill lot allocations average $167,993—the highest in the surveyed states.
North Carolina Snapshot
257 homes averaging 2,182 sq ft. Charlotte-Concord-Gastonia dominates volume (184 homes) at $428,404 on narrow 41-foot lots.
Texas Snapshot
Highest tracked volume (1,422 homes). Averaging $280,014—the most affordable large market. Lot allocations ($47k–$75k) are the lowest surveyed.
Regional Market Dynamics
Tennessee Overview: Averaging 2,165 sq ft at $459,929. Nashville-Davidson leads volume (128 homes) with infill allocations reaching $135,766. Secondary markets like Clarksville offer wider-lot (53') options near military hubs.
Top Markets Recap: Houston and San Antonio tie for Texas volume (477/483 homes). Las Vegas embodies Nevada power (83% of state total). Charlotte represents 70% of NC inventory. Atlanta represents over 40% of Georgia's QMI volume.
Key Takeaways: Land Value Realities
Applying a standard residual approach—subtracting 20% builder profit/IRR (~$14,000–$22,000), $3,000 soft costs, and typical development costs of $30,000–$50,000 per lot—yields approximate raw land values of roughly $8,000–$28,000 rural and $18,000–$45,000 infill.
Lennar's density-focused strategy help contain finished lot costs, stabilizing values in rural/suburban expansions. Florida and Nevada show highest lot values, reflecting intense coastal and urban demand scarcity.
Methodology Motto
"Land is Local.
Intelligence is Priceless."
Who We Are.
LandfinderAI is a national real estate data company that has partnered with Landchecks to create a JOINT PLATFORM to analyze and visualize Rezonings and Construction projects providing insight into future development. Using AI we analyze land listings, single tenant retail listings, and quick move in (inventory) homes listings to better paint the future of land, retail, and new home values.
President: Christopher Worley
© 2026 Landchecks
Aggregate Data
State-Level Q1 2026 New Home (QMI) Analysis
PDF
Analysis of 80,000+ listings reveals Texas as the volume champion (55.8% supply), while Florida reflects high demand with 19.2% concentration. 50-foot frontage remains the national benchmark for production housing.
Nevada commands the highest price points (~$724k) and cost efficiency (~$300/SF), suggesting constrained supply relative to inflow.
Market Intelligence
Q1 2026 Executive Summary
New Home (QMI)
Market Analysis
Aggregate Pipeline Value
$40.8B
Projected Future Sales Volume
Listings Analyzed
80,000+
Avg Price (2.4k SF)
$510,000
Production Standard
50 FT Lot
Active States
16 Markets
Market Concentration
New home inventory is heavily concentrated in a few high-growth states, confirming the position of the Sunbelt as the dominant production engine. Texas and Florida alone represent nearly 75% of total QMI supply.
Texas Production
55.8% OF TOTAL
Florida Demand
19.2% OF TOTAL
75%
Identified Listings on 50' Lots
"50-foot frontage remains the national production standard for new home development."
Q1 2026 State Performance Metrics
| State |
QMI Count |
Avg Asking |
Avg $/BSF |
Transition Lot |
Infill Lot |
| Nevada |
1,937 |
$724,388 |
$300.36 |
$123,146 |
$195,585 |
| Arizona |
6,266 |
$558,890 |
$248.37 |
$122,956 |
$150,900 |
| Florida |
15,139 |
$531,867 |
$233.39 |
$117,011 |
$143,604 |
| Texas |
43,960 |
$505,166 |
$199.28 |
$111,136 |
$136,395 |
| Alabama |
1,668 |
$312,377 |
$166.09 |
$68,723 |
$84,342 |
Pricing Driver
Land Scarcity Dominance
Price variation is driven primarily by land constraints and development intensity rather than specific home size or BSF.
Market Trend
Sunbelt Trajectory
Regulatory environments and migration trends continue to push the vast majority of production into the Southeastern US.
Valuation Gradient
Infill Premium
Urban infill land positions can increase total home value by up to 27%, reaching averages over $195k per lot in Nevada.
© 2026 Landchecks • National Data Analytics Unit
Market Intelligence Report
State-Level Q1 2026 Snapshot
State-Level Q1 2026
New Home (QMI) Market Analysis
LandfinderAI analyzed 80,000± Quick Move-In (QMI) new home listings across 16 states in Q1 2026, representing a significant pipeline of near-term residential supply and future development activity. The data reveals strong geographic concentration, consistent lot sizing trends, and meaningful pricing variation tied to market maturity and development intensity.
Inventory Depth
80,000
Listings Analyzed
Aggregate Value
$40.8 Billion
In Future Sales
Price Benchmark
$510K
Avg Price (2,400 SF Home)
Market Concentration
Our focus is on the southeast, but we also analyzed Nevada and Arizona given their status as a destination for buyers. New home inventory is heavily concentrated in a few high-growth states:
-
Texas accounts for 43,960 listings (55.8% of total supply), confirming its position as the dominant production market driven by large-scale master-planned development and lower cost structures.
-
Florida follows with 15,139 listings (19.2%), reflecting continued population-driven housing demand and constrained land supply.
-
Arizona ranks third with nearly 8% of listings, while Southeastern growth markets including Georgia, North Carolina, and Tennessee collectively represent a meaningful secondary tier of development activity.
75%
Of Identified Listings
On 50' Lot Frontage
"Sunbelt migration trends and pro-growth regulatory environments continue to drive the majority of new home production."
Q1 2026 QMI (Quick Move In) Analysis
| State |
# of QMI |
Avg Asking Price |
Avg QMI BSF |
Avg $/BSF |
Avg QMI FF |
Rural Lot |
Transition Lot |
Infill Lot |
| Texas |
43,960 |
$505,166 |
2,535 |
$199.28 |
52.2 |
$85,878 |
$111,136 |
$136,395 |
| Florida |
15,139 |
$531,867 |
2,279 |
$233.39 |
48.8 |
$90,417 |
$117,011 |
$143,604 |
| Arizona |
6,266 |
$558,890 |
2,250 |
$248.37 |
51.7 |
$95,011 |
$122,956 |
$150,900 |
| Georgia |
4,289 |
$462,971 |
2,369 |
$195.46 |
46.3 |
$78,705 |
$101,854 |
$125,002 |
| North Carolina |
3,382 |
$459,654 |
2,306 |
$199.36 |
45.8 |
$78,141 |
$101,124 |
$124,107 |
| Tennessee |
2,200 |
$517,610 |
2,303 |
$224.75 |
45.3 |
$87,994 |
$113,874 |
$139,755 |
| Nevada |
1,937 |
$724,388 |
2,412 |
$300.36 |
46.4 |
$159,365 |
$123,146 |
$195,585 |
| Alabama |
1,668 |
$312,377 |
1,881 |
$166.09 |
50.0 |
$53,104 |
$68,723 |
$84,342 |
Home Pricing and Size Trends
Across the analyzed states, pricing and home size reflect differences in land costs, density, and market maturity:
-
Highest Pricing: Nevada ($724K avg | ~$300/SF)
-
Mid-Tier: Arizona (~$559K) and Florida (~$532K)
-
Lower-Cost: Alabama (~$312K avg)
Average sizes range 1,880 SF to 2,535 SF, with larger homes in land-abundant markets like Texas.
Price Efficiency ($/SF)
Cost per square foot shows a clear relationship to urbanization and land constraints:
Nevada
~$300/SF
AZ / FL / TN
~$225-$248/SF
TX / GA / NC
~$195-$199/SF
Lot Size Standardization
One of the strongest findings is the consistency in developed lot frontage:
-
Average frontage across states ranges from ~45 to 52 feet.
-
~50-foot frontage lots represent the most common production standard.
-
Southeastern markets trend slightly smaller (mid-40 ft range).
Lot Value Gradient
Estimated lot allocations show predictable value escalation:
Rural Lots
$53K - $123K
Transition Lots
$69K - $159K
Infill Lots
$84K - $196K
Higher-density and urban infill markets command substantial premiums, illustrating the increasing importance of land positioning in overall home pricing.
Concentration
New home production is highly concentrated, with Texas and Florida representing roughly 75% of total QMI supply.
Standards
50-foot frontage remains the national production standard for new home development across the US.
Valuation
Infill and transitioning land positions significantly increase total home value, especially in Sunbelt markets.
Proprietary Data Transmission • Q1 2026
Intelligence is Priceless
© 2026 Landchecks Methodology • QMI Market Analysis Unit
Valuation Model
Corner vs. Non-Corner Retail Paired Analysis
PDF
Based on 897 single-tenant retail listings, corner sites command a measurable price premium of 22% and approximately 18% higher NOI expectations.
Paired Sales Analysis
Trailing 6 Months • Q1 2026
Corner vs.
Non-Corner Retail
An analysis of 897 single-tenant listings across 17 national brands to identify how site positioning influences pricing, income, and investor demand.
Analysis Composition
Segmented by physical location characteristics and analyzed using normalized income data to isolate the effect of intersection exposure on overall value.
599
Non-Corner Sites
298
Corner Sites
Low Sensitivity
Necessity-Based Retail
Brands like Family Dollar show statistically negligible differences between sites, as demand is driven by local household convenience rather than impulse traffic.
High Sensitivity
Impulse & Drive-Thru
Tenants like Starbucks or 7-Eleven see a significant "Premium Gap" where visibility and ease-of-ingress directly impact unit-level sales.
Portfolio Brands Analyzed
Advance Auto
McDonald's
Starbucks
Chick-Fil-A
Chipotle
Circle K
Dollar General
Valuation Interpretation
"Corner positioning should not be treated as a universal pricing adjustment. The market reflects a nuanced relationship where location premiums vary significantly by tenant business model and primary demand drivers."
© 2026 Landchecks • Paired Analysis Unit
Paired Sales Analysis
Trailing 6 Months Overview
Corner vs. Non-Corner
Retail Listings Analysis
A recent paired analysis of 897 single-tenant retail listings examining how site positioning influences market pricing, income expectations, and investor appetite.
Study Overview
Listings were segmented by location characteristics (corner vs. non-corner sites) and analyzed using asking price, asking net operating income (NOI), and asking capitalization rates to identify consistent market behavior.
The study provides insight into how physical site characteristics and tenant behavior collectively shape pricing expectations in today’s single-tenant retail market.
Brands Analyzed (17 Total)
Advance Auto Parts
7-Eleven
Chick-Fil-A
McDonald's
Starbucks
Family Dollar
Take 5
Corner:
298 (33%)
Non-Corner:
599 (67%)
Methodology
Paired comparison by property subtype and tenant category to isolate location effects. Evaluated variables: Asking price, asking NOI, and asking Capitalization Rate.
Key Findings
The market generally recognizes corner positioning as a value-enhancing characteristic driven by visibility and accessibility.
01
Measurable Price Premium
Corner properties demonstrated approximately 22% higher average asking prices, assigning value to enhanced visibility and access.
02
Income Expectation Support
Roughly 18% higher average asking NOI, indicating pricing is supported by fundamental income rather than speculation.
03
Stronger Investor Demand
Cap rates averaged ≈27 basis points lower, reflecting lower perceived risk and stronger competition for premium sites.
Tenant Variation Matters
Analysis revealed that not all retail brands demonstrate the same sensitivity to site positioning. In several cases, pricing differences were minimal or statistically negligible.
Case Study: Family Dollar
"Properties leased to Family Dollar showed only nominal differences in asking price, NOI, and capitalization rates between corner and non-corner locations."
Minimal Sensitivity Identified
Dynamics for Investors:
1
Business Model Sensitivity
Some tenants rely heavily on traffic and impulse visits; others depend on destination-driven demand.
2
Standardized Site Selection
Certain national tenants follow uniform store prototypes, reducing variability tied to positioning.
3
Tenant Motivation
Pricing reflects perceived income stability, credit, and lease structure alongside physical situs.
Market Interpretation
Corner positioning should not be treated as a universally applied pricing adjustment. Instead, the market reflects a nuanced relationship where location premiums vary by tenant type, operating strategy, and demand drivers.
Data-Driven Approach
These results support applying location-based adjustments within the context of tenant-specific behavior rather than relying solely on generalized assumptions. When establishing value, both site and tenant must be integrated.
Automated Intelligence Across the Entire US
Platforms such as LandfinderAI help market participants identify these patterns by analyzing large volumes of listing data and generating rapid valuation insights. Paired sales analyses provide a practical framework when automated for the investor.
Landchecks.com
|
Landfinder.ai
|
© 2026 Intelligence Services
Land is Local. Intelligence is Priceless.
Numbers
What the Numbers Say:
C-Store vs. QSR
PDF
Subsector Analysis
Q1 2026 Market Intelligence
What the Numbers Say:
C-Store
vs.
QSR
Analyzing 700+ active listings since November 2025 to determine distinct profiles for yield, scale, and stability in the Single-Tenant Net Lease landscape.
Market Performance Snapshot (Mean)
Avg Asking Price
C-Store
$5.22M
QSR
$3.24M
C-Store +61% Premium
Avg Cap Rate
Lower C-Store Risk
Avg NOI
C-Store +56% Income
Avg Scale (Acreage)
C-Store
2.46 Ac
QSR
1.43 Ac
Larger Assets
Scale & Valuation Premium
C-Stores command 61% higher average asking prices than QSRs. This significant gap is driven by asset scale: C-Stores average 2.46 acres and ~5,000 sq ft, often incorporating fuel infrastructure and larger truck-accessible lots. QSRs function as efficient CORRIDOR PADS, appealing to investors seeking lower entry points ($3.24M mean).
Efficiency: Price per SF
C-Store
$1,154 / SF
QSR
$1,051 / SF
Yield & Recession Immunity
Investors trade 17 basis points of yield for the perceived stability of C-Stores. With a lower cap rate (5.40%) and a tighter distribution range, C-Stores are viewed as "blue-chip" assets. Their ties to non-discretionary spending (fuel/essentials) make them favored for long-term holds in inflationary environments.
C-Store Cap Range
4.25% - 9.15%
QSR Cap Range
3.41% - 10.0%
What this means for your strategy
The Yield-Focused Choice
Quick Service Restaurants (QSR)
-
Lower entry prices ($2.8M median) for easier portfolio diversification.
-
Higher cap rates offer compelling returns for risk-tolerant investors.
-
Over 500 active listings ensure abundant inventory and selection.
The "Blue-Chip" Stability
Convenience Stores (C-Stores)
-
Premium valuations ($4.4M median) backed by essential services.
-
Tighter cap rates (5.20% median) signal lower perceived risk.
-
Stronger NOI ($278K mean) for reliable long-term cash flow.
Perform Site-Specific Analysis with RetailSage AI
Move beyond national averages. Our RetailSage AI tool allows you to perform an automated analysis of any submarket or brand by corner positioning, while providing real-time data on the Quick Move-In (QMI) homes that drive future retail demand.
Contact Chris Worley: chrisw@landfinder.ai
© 2026 Landchecks • Retail Intelligence Unit
Market Intelligence Report
STNL Sector Analysis
Single-Tenant Net Lease:
C-Store
vs.
QSR
Predictable income streams, minimal management, and strong tenant covenants. We analyze over 700 listings to reveal the distinct profiles of yield, scale, and stability.
In the world of commercial real estate investing, single-tenant net lease (STNL) properties remain a popular choice for their predictable income streams, minimal management requirements, and strong tenant covenants. Among the most common STNL subsectors are Quick Service Restaurants (QSRs) like Starbucks, Chick-fil-A, and Wendy's, and Convenience Stores (C-Stores) such as 7-Eleven, Circle K, and Wawa.
Using a comprehensive database of STNL listings added since November 2025 (as of early March 2026), we've analyzed key metrics to compare QSR and C-Store properties. This dataset includes over 700 listings across the U.S., focusing on asking prices, cap rates, NOI, price per BSF, acreage, and building square footage.
Statistical Benchmarks (Mean vs. Median)
| Metric |
QSR Mean |
QSR Median |
C-Store Mean |
C-Store Median |
| Asking Price ($) |
$3,236,892 |
$2,869,782 |
$5,219,915 |
$4,405,000 |
| Cap Rate (%) |
5.57% |
5.75% |
5.40% |
5.20% |
| NOI ($) |
$178,490 |
$165,000 |
$277,793 |
$228,013 |
| Price/BSF ($) |
$1,050.66 |
$937.50 |
$1,153.57 |
$1,036.46 |
| Acreage |
1.43 |
1.12 |
2.46 |
1.66 |
| BSF (Sq Ft) |
4,123 |
3,031 |
4,980 |
4,659 |
*Standard deviations indicate higher variability in C-Store asking prices (std: $3.35M) compared to QSRs (std: $1.84M). Listings vetted Nov 2025 – March 2026. Data counts: QSR (516) | C-Store (203).
Asking Prices and Scale
C-Stores command significantly higher average asking prices—about 61% more than QSRs. This gap persists in medians, suggesting C-Stores are generally larger investments. Supporting this, C-Stores average 2.46 acres compared to QSRs' 1.43 acres. This scale difference makes sense—C-Stores often include gas pumps, larger lots for truck access, and ancillary revenue from fuel.
NOI and Price per Square Foot
NOI follows the price trend: C-Stores average $278K annually, 56% higher than QSRs' $178K. Price/BSF tells a similar story—C-Stores at $1,154/sq ft vs. QSRs at $1,051/sq ft. This metric underscores efficiency: despite larger buildings, C-Stores fetch a higher per-foot value, possibly due to revenue diversity implied in tenant strength.
Cap Rates and Yield
Cap rates provide insight into expected returns and risk perception. C-Stores edge out with a lower average cap rate (5.40% vs. 5.57%), indicating investors are willing to pay more relative to income for these assets. The median cap rate for C-Stores is even lower at 5.20%.
C-Store Range
4.25% – 9.15%
QSR Range
3.41% – 10.00%
Higher cap rates in QSRs could translate to better yields for risk-tolerant investors, but reflect concerns like shifting consumer preferences or operational risks. C-Stores appear more recession-resistant.
What This Means for Investors
Strategic guidance based on current market dynamics.
Yield-Focused Strategy
The Accessible Choice
QSRs are more accessible yield-focused opportunities. With lower entry prices and higher average cap rates, they suit investors prioritizing cash flow and diversification. With twice as many listings, the QSR market offer significant choice for the portfolio-builder.
- High Volume of Inventory
- Enhanced Cash-on-Cash Return
- Strategic Pad Site Locations
Stability-Focused Strategy
The "Blue-Chip" Option
C-Stores emerge with premium assets and built-in stability. Their larger footprints and ties to non-discretionary spending (fuel, convenience) make them appealing for long-term hold strategies, particularly in inflationary environments where rent escalations shine.
- Non-Discretionary Revenue
- Lower Market Volatility
- Strong Institutional Demand
Final Verdict
Ultimately, the best choice depends on your risk profile and goals. Based purely on the numbers, C-Stores appear superior for conservative investors seeking reliable, high-value assets with lower perceived risk.
If you're chasing higher returns and don't mind smaller deals, QSRs offer compelling yields in a more abundant market. Always factor in tenant credit (e.g., corporate guarantees), lease terms (average 15–20 years remaining in the data), and location specifics before deciding.
Market Outlook
"C-Stores lead on stability, while QSRs dominate on yield velocity."
Vetted 2026 Intelligence
RetailSageAI
New Tool
Perform AI-generated analysis of submarkets and brands by corner situs, land listings, and QMI rooftops which drive future retail growth.
Direct Contact
Chris Worley
chrisw@landfinder.ai
Intelligence is Priceless • 2026
Tools
How to Read QMI Data as a Retail Site Selection Tool
PDF
Strategic Toolset
Market Prediction Series
Using QMI Pricing to
Predict Retail Demand
Why Quick Move-In (QMI) data is replacing dated Census figures as the premier lens for single-tenant retail site selection and consumer purchasing power analysis.
The Dated Standard
U.S. Census Data
-
Inherent Lag (snapshops every 10 years).
-
Misses rapid post-pandemic migration.
-
Reactive rather than predictive.
Snapshots of the Past
The New Signal
Quick Move-In (QMI)
-
Live Pulse (updated daily/weekly).
-
Reflects immediate market realities.
-
Direct proxy for local purchasing power.
Real-Time Growth Edge
The QMI Technical Advantage
Responsiveness
Prices adjust in real-time to interest rates, supply chain issues, and immediate buyer demand shifts.
Hyper-Locality
Aggregated data tied to specific communities or ZIP codes, drilling down to the exact trade area.
Predictive Velocity
High QMI turnover (30-60 days) forecasts immediate population influx, boosting retail viability.
Extrapolating Purchasing Power
Actionable proxies for residential retail support.
01
Local Median Benchmarking
Compare QMI prices to regional averages. Fast sales at or above median prices signal robust discretionary spending capacity.
02
Incentive Scrutiny
Minimal builder incentives ($10k vs $30k national avg) in high-price areas indicate an affluent buyer pool requiring less coaxing.
03
Turnover Correlation
Coupling low inventory (<3 months) with 5-10% YoY price increases highlights residents with stable disposable income.
The Single-Tenant Catalyst
Proximity to new home communities attracts families and professionals, typically increasing retail foot traffic by 15-25% per industry benchmarks. QMI data identifies these hotspots before they saturate.
Future Retail Performance Multiplier
+25%
Traffic Lift Potential
"Land is Local. Intelligence is Priceless."
RetailSage AI Platform
Contact: chrisw@landfinder.ai
Executive Methodology
Retail Site Selection Tool
How to Read QMI Data as a
Retail Site Selection Tool
In the fast-paced world of commercial real estate, selecting the right site for retail investments can make or break a portfolio. Traditional tools like U.S. Census data have long been staples for gauging market potential, but they often fall short in today's dynamic environment.
Enter Quick Move-In (QMI) data—inventory homes that builders offer for immediate occupancy. This real-time indicator provides a fresh lens for site selection, particularly for single tenant retail properties. By tracking QMI pricing and availability, investors can pinpoint areas of growth, assess local economic health, and align with burgeoning new home communities that drive long-term value.
Our SAAS platform vets single tenant listings and land opportunities daily across the entire U.S., while monitoring QMI inventory in 13 states (with expansion underway as we add clients).
The Limitations of Traditional Methods: Why Census Data Falls Short
For decades, investors have relied on U.S. Census Bureau data for demographic insights, such as median household income, population growth, and housing statistics. While comprehensive, this data is inherently lagged.
The decennial Census provides a snapshot every 10 years, with interim updates via the American Community Survey (ACS) rolling out annually but based on multi-year averages. For instance, 2024 ACS data released in late 2025 might reflect trends from 2020-2024, missing recent shifts like post-pandemic migration, inflation spikes, or regional booms.
Volatility Impact
"This delay makes Census data a poor predictor in volatile markets. Consider a suburb experiencing rapid influx due to remote work trends: By the time Census numbers catch up, prime retail sites may already be saturated or undervalued opportunities missed. In retail site selection, where timing is critical, using outdated data can lead to misjudging demand for single tenant retail—like convenience stores, pharmacies, or quick-service restaurants—that thrive on local foot traffic and spending."
The Edge of QMI Data: Real-Time Market Reflection
QMI homes represent builders' unsold inventory, priced for quick sales with incentives like rate buydowns or upgrades. Unlike Census data, QMI pricing is extremely current, updated daily or weekly by builders responding to immediate market conditions. This makes it a superior tool for retail site selection:
Timeliness and Responsiveness
QMI prices adjust in real time to factors like interest rates, supply chain issues, and buyer demand. For example, if mortgage rates dip (as they did slightly in early 2026), QMI prices might stabilize or rise, signaling strong buyer interest. In contrast, Census housing data might not reflect this until the next ACS release.
Geographic Precision
QMI data is hyper-local, tied to specific communities or ZIP codes. Platforms like ours aggregate this across states, allowing investors to drill down to areas near proposed retail sites. If QMI inventory is low and prices are climbing in a neighborhood, it indicates robust demand—perfect for anchoring single tenant retail.
Predictive Power for Growth
High QMI turnover (e.g., homes selling within 30-60 days) forecasts population influx, which boosts retail viability. New home communities often cluster around amenities, creating ecosystems where retail investors can capitalize on increased traffic.
"In essence, QMI data acts as a 'live pulse' of the housing market, far outperforming Census lags. A 2025 study from the National Association of Home Builders noted that QMI sales correlate more closely with economic indicators like job growth than historical Census trends, making it ideal for forward-looking decisions."
Extrapolating Purchasing Power from QMI Pricing
Inferring local purchasing power—the ability of residents to support retail spending.
Economic Proxy Analysis
01
Benchmark Against Local Medians
Compare QMI prices to regional averages. If QMI homes in a state like Florida (where median new home prices hovered around $420,000 in early 2026) are priced at or below this and selling quickly, it suggests buyers have solid purchasing power. Slow sales at discounted prices, however, might indicate affordability strains, signaling caution for retail investments reliant on discretionary spending.
02
Incentive Analysis
Builders use incentives (e.g., closing cost credits) to move QMI inventory. Minimal incentives in a high-price area imply strong purchasing power, as buyers don't need much coaxing. Data from early 2026 shows builders offering an average of $20,000-$30,000 in incentives nationally, but in hot markets like Texas suburbs, this drops to under $10,000—pointing to affluent buyers.
03
Price Trends and Turnover Rates
Rising QMI prices with high turnover reflect income growth and confidence. For instance, a 5-10% year-over-year price increase in QMI listings, coupled with low inventory (under 3 months' supply), indicates residents with disposable income for retail. This extrapolation assumes a correlation: Homebuyers committing to $400,000+ purchases likely have budgets for everyday retail, enhancing value for nearby single tenant properties.
04
Integration with Broader Metrics
Pair QMI data with quick-access sources like Bureau of Labor Statistics wage reports (updated monthly) for a fuller picture. If QMI prices outpace wage growth by less than 2:1, purchasing power is resilient; ratios exceeding this might flag overextension.
By focusing on these elements, investors can gauge not just current demand but future stability. Near new home communities, this translates to higher retail occupancy rates and rents, as incoming residents—often with above-average incomes—drive economic uplift.
Leveraging QMI for Single Tenant Retail and New Home Communities
Single tenant retail shines in stable, growing areas, offering predictable NNN leases with minimal management. Proximity to new home communities amplifies this: As QMI data reveals, these areas attract families and professionals, increasing foot traffic by 15-25% per industry benchmarks.
For example, a pharmacy near a Florida QMI hotspot could see sustained demand from new homeowners settling in. Our platform empowers this by providing daily QMI updates, enabling users to overlay data on retail listings. Investors spotting low QMI inventory in expanding states can prioritize sites there, confident in the market's vibrancy.
+25%
Traffic Lift Potential
Strategic edge for building resilient portfolios amid uncertainty.
Market Intelligence Verdict
"In summary, ditching dated Census reliance for QMI's real-time insights revolutionizes retail site selection. It's not just data—it's a strategic edge for building resilient portfolios amid uncertainty."
RetailSageAI
New Tool
Landfinder.AI/Landchecks allows users to perform an AI generated analysis of submarkets and brands by corner situs, land listings, and QMI rooftops which drive future retail.
Direct Outreach
Chris Worley
chrisw@landfinder.ai
March 10, 2026 • Methodology Release
Intelligence is Priceless
Strategic Intelligence
Purchasing Power Analysis
Extrapolating Purchasing Power
from QMI Pricing
One of QMI's most valuable applications is inferring local purchasing power—the ability of residents to afford homes and, by extension, support retail spending. While not a direct measure, QMI pricing provides actionable proxies when analyzed thoughtfully.
Extrapolation Methodology
01
Benchmark Against Local Medians
Compare QMI prices to regional averages. If QMI homes in a state like Florida (where median new home prices hovered around $420,000 in early 2026) are priced at or below this and selling quickly, it suggests buyers have solid purchasing power. Slow sales at discounted prices, however, might indicate affordability strains, signaling caution for retail investments reliant on discretionary spending.
02
Incentive Analysis
Builders use incentives (e.g., closing cost credits) to move QMI inventory. Minimal incentives in a high-price area imply strong purchasing power, as buyers don't need much coaxing. Data from early 2026 shows builders offering an average of $20,000-$30,000 in incentives nationally, but in hot markets like Texas suburbs, this drops to under $10,000—pointing to affluent buyers.
03
Price Trends and Turnover Rates
Rising QMI prices with high turnover reflect income growth and confidence. For instance, a 5-10% year-over-year price increase in QMI listings, coupled with low inventory (under 3 months' supply), indicates residents with disposable income for retail. This extrapolation assumes a correlation: Homebuyers committing to $400,000+ purchases likely have budgets for everyday retail, enhancing value for nearby single tenant properties.
04
Integration with Broader Metrics
Pair QMI data with quick-access sources like Bureau of Labor Statistics wage reports (updated monthly) for a fuller picture. If QMI prices outpace wage growth by less than 2:1, purchasing power is resilient; ratios exceeding this might flag overextension.
"By focusing on these elements, investors can gauge not just current demand but future stability. Near new home communities, this translates to higher retail occupancy rates and rents, as incoming residents—often with above-average incomes—drive economic uplift."
Leveraging QMI for Single Tenant Retail and New Home Communities
Single tenant retail shines in stable, growing areas, offering predictable NNN leases with minimal management. Proximity to new home communities amplifies this: As QMI data reveals, these areas attract families and professionals, increasing foot traffic by 15-25% per industry benchmarks.
For example, a pharmacy near a Florida QMI hotspot could see sustained demand from new homeowners settling in. Our platform empowers this by providing daily QMI updates, enabling users to overlay data on retail listings. Investors spotting low QMI inventory in expanding states can prioritize sites there, confident in the market's vibrancy.
+25%
Traffic Lift Potential
Strategic edge for build portfolios amid uncertainty.
Market Intelligence Verdict
"In summary, ditching dated Census reliance for QMI's real-time insights revolutionizes retail site selection. It's not just data—it's a strategic edge for building resilient portfolios amid uncertainty."
RetailSageAI
New Engine
Perform AI-generated analysis of submarkets and Single Tenant Retail Brands by corner situs. Access current land listings and Quick Move In (QMI) rooftops to drive future retail ROI.
Direct Intelligence Inquiry
Chris Worley
chrisw@landfinder.ai
Visit RetailSage Platform
Proprietary Data Transmission Active
Tools
Atlantic Retail vs. the Single-Tenant Market
PDF
Market Report
Powered by RetailSageAI
Atlantic Retail vs. the Single-Tenant Market:
What 90 Days of Current Asking Data Reveals
CW
By Christopher Worley
March 2026
In the fast-moving world of single-tenant net-lease (NNN) retail, timing and transparency are everything. At RetailSageAI, our platform aggregates, cleans, and vets every active single-tenant listing nationwide in real time. This means users can compare brokers, brands, subtypes, cap rates, and NOI instantly — without weeks of manual hunting through public facing broker portals.
To illustrate the power of this daily research, we pulled a clean 90-day snapshot (December 2025 – March 2026) and compared Atlantic Retail’s single-tenant activity directly against the rest of the market. The results? Straightforward, data-driven insights that show how specialized brokers price assets in today’s environment.
1
Subtype-Level View: Atlantic Retail’s Overall Positioning
Atlantic Retail
127
Total Listings ($536.9M)
Rest of the Field
1,696
Total Listings ($6.73B)
The Insight
Key delta: Atlantic’s listings are priced at a 75 basis point tighter cap rate overall.
| Subtype |
Volume |
Cap Comparison |
| Medical |
40 listings ($155M) |
5.50% vs. 7.07% (–157 bps) |
| Big Box |
6 listings ($65.6M) |
5.44% vs. 6.85% (–141 bps) |
| Grocer |
4 listings ($20M) |
4.88% vs. 5.98% (–111 bps) |
| General Retail |
22 listings ($78M) |
6.14% vs. 7.21% (–106 bps) |
| School / Education |
9 listings ($41M) |
5.88% vs. 6.78% (–90 bps) |
| C-Store |
— |
6.35% vs. 5.40% (+95 bps) |
2
Apples-to-Apples Brand Comparison
Heartland Dental
~9 bps tighter
Atlantic: 28 listings | Avg NOI ≈ $199,500 | Asking cap 5.24%
Rest of Field: 22 listings | Avg NOI ≈ $235,800 | Asking cap 5.34%
*Note: Approximately 12 of the Atlantic Retail are duplicates as the price point was adjusted downward slightly.
Dollar General
130 bps tighter
Atlantic: 11 listings | Avg NOI ≈ $241,300 | Asking cap 5.90%
Rest of Field: 246 listings | Avg NOI ≈ $131,100 | Asking cap 7.19%
Key Takeaway: Nearly double the average NOI compared to market.
Chipotle
~59 bps higher
Atlantic: 5 listings | Avg NOI ≈ $182,100 | Asking cap 5.38%
Rest of Field: 17 listings | Avg NOI ≈ $189,900 | Asking cap 4.79%
The Learning Experience
77 bps tighter
Atlantic: 5 listings | Avg NOI ≈ $354,900 | Asking cap 6.26%
Rest of Field: 14 listings | Avg NOI ≈ $409,500 | Asking cap 7.03%
Walgreens
93 bps tighter
Atlantic: 5 listings | Avg NOI ≈ $274,000 | Asking cap 6.70%
Rest of Field: 74 listings | Asking cap 7.63%
The Bottom Line:
Data That Drives Instant Decisions
Atlantic Retail is clearly executing at a premium level across most subtypes and brands — tighter caps in 4 of the 5 marquee examples and 75 bps inside overall. The one outlier (Chipotle) simply highlights how asset-specific factors matter. None of this is “good” or “bad” — it’s market reality, visible only when you have every listing side-by-side.
That’s exactly why RetailSageAI exists.
Our platform vets single-tenant listings every day, normalizes the data, flags duplicates, and delivers clean, comparable metrics in seconds. Whether you’re an owner deciding who to list with, an investor hunting off-market deals, a broker benchmarking your pipeline, or a tenant rep analyzing competition — the insight is already done for you.
No more spreadsheets. No more waiting for broker summaries. Just instant clarity.