Domino's
Domino's stores are usually small inline or endcap units leased by franchisees, often on shorter terms, so they are rarely pure single-tenant investments. The brand is strong and the company's securitized balance sheet is well managed, but lease credit sits with the franchisee.
- US units
- 7,186
- FY2025
- 3Y net growth
- +7.5%
- vs. FY2022
- Credit rating
- NR
- Sub-investment grade
- Typical term
- 5–10 yr
- NNN/NN inline, franchisee-signed
- Model
- Franchised
- Public
Unit count
Domino's in the news
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Domino's net lease FAQ
What is Domino's's credit rating?
Domino's is rated NR (securitized debt only; not verified), which is below investment grade. Check the lease to confirm whether the rated entity is the actual guarantor.
How many Domino's locations are there in the US?
Domino's reported about 7,186 US locations as of FY2025. That is +7.5% versus 6,686 in FY2022.
What does a typical Domino's net lease look like?
Lease type: NNN/NN inline, franchisee-signed. Initial term: 5–10 yr. Rent increases: Flat or 10% every 5 yrs. These are market-typical terms; actual deals vary by vintage, location and whether the lease is corporate or franchisee-signed.
Is Domino's corporate or franchised?
Operating model: Franchised (~96% of US stores franchised). For net lease investors this determines whether rent is backed by the corporate parent or by a franchisee.