Best Buy Tenant Overview

Tenant Description

Best Buy is an American multinational consumer electronics retailer that is headquartered in Richfield, Minnesota. The first Best Buy was started by Richard M. Schulze and James Wheeler in 1966, and it was named Sound of Music. Since it's inception, Best Buy has obviously grown tremendously and turned itself into a household name in American culture. Best Buy is one of the United States largest companies in terms of revenue, as it is listed in America's Fortune 500 largest companies. It is publicly listed on the New York Stock Exchange and trades under the ticker $BBY. Today, Best Buy has over 1,000 retail locations and employs around 125,000 people. It reported revenue of $42.88 billion in 2019 with operating income of $1.90 billion and a net income of $1.46 billion. Another unique trait about Best Buy is that it is the largest specialty retailer in the United States consumer electronics industry.


Best Buy net lease properties typically feature an average cap rate of 5.50%, with a 15-year lease term. The properties often span around 40,000 square feet on a lot size of 3.5-7.0 acres. The average sale price for such properties is about $10,645,000, with a Net Operating Income (NOI) of approximately $550,000 and a price per square foot of $225. These details underscore Best Buy's presence as a major player in the consumer electronics retail space with significant investment potential in the net lease market. For more details, visit Net Lease Advisor