Bridging the Cap Rate Gap: How National Restaurant NNN Leases Are Repricing in North Las Vegas — and What Our Dunkin’ Deal Reveals

If you’ve tracked North Las Vegas restaurant deals lately, you’ve seen the cap rate gap widen—like the stretch between the I-15 morning rush and the quieter industrial edges. National QSRs (Chick-fil-A, Dunkin’) trade at 4–5.5% caps; local operators push 7–10%. It’s not just math—it’s North Las Vegas’s market splitting in real time. I’m Stefany Lee Sigier, retail leasing broker who’s canvassed every pad from Craig Ranch to the Lake Mead corridor. In this environment, smart money doesn’t chase yield. It chases tenants who thrive on our high-traffic, growth-fueled arterials.