In-N-Out Burger
Interested in selling your In-N-Out Burger NNN property or In-N-Out Burger ground lease property and wondering what you can get for it in today’s changing market?
Contact us for a complimentary broker opinion of value for your off-market In-N-Out Burger NNN property for sale or In-N-Out Burger ground lease property for investment, specifically tailored to support your 1031 exchange requirements. This valuable assessment will provide you with the necessary clarity to make informed decisions regarding the sale of your In-N-Out Burger NNN property or the inclusion of an In-N-Out Burger ground lease property in your investment portfolio. As specialists in working with 1031 exchange buyers seeking off-market In-N-Out Burger properties, we are dedicated to delivering competitive offers with reduced fees to help you maximize your investment returns.
Number of locations
As of 2024, In-N-Out Burger operates approximately 400 locations across 8 states in the United States, primarily in California, Texas, Arizona, Nevada, Utah, Colorado, Oregon, and Idaho, with California accounting for the majority of stores.
Revenue and income
In-N-Out Burger generates an estimated $2.0–$2.5 billion in annual revenue (2022–2023 estimates). As a privately held company, In-N-Out does not publicly disclose net income figures.
Future plans
In-N-Out plans measured expansion into select Western and Southwestern markets while maintaining tight operational control. The company focuses on supply-chain integrity, company-operated growth, and long-term site development rather than rapid nationwide expansion.
Corporate vs. franchise
100% of In-N-Out Burger locations are corporate-owned and operated. The company does not franchise, ensuring consistent quality, operations, and brand standards across all locations.
Additional information – In-N-Out Burger Properties
In-N-Out Burger was founded in 1948 by Harry and Esther Snyder in Baldwin Park, California.
The brand is widely credited as California’s first drive-thru hamburger stand.
In-N-Out is known for its simple menu, fresh ingredients, and cult following, including its famous “Animal Style” offerings.
The company remains privately owned by the Snyder family and is headquartered in Irvine, California.
In-N-Out Burger History
In-N-Out Burger was founded in 1948 by Harry and Esther Snyder in Baldwin Park, California, and is widely recognized as California’s first drive-thru hamburger stand. The company built its reputation on a simple menu, fresh ingredients, and made-to-order food, setting it apart in the early fast-food industry. Over the decades, In-N-Out expanded gradually while maintaining strict quality control and company ownership of its restaurants. The brand’s commitment to consistency, employee-focused culture, and operational excellence has fueled steady growth and a loyal customer following. Today, In-N-Out Burger operates in select Western and Southwestern states and remains a privately held, family-owned company known for its strong brand identity and disciplined expansion strategy.
Why Invest in Ground Lease and NNN Lease of In-N-Out Burger?
Investing in In-N-Out Burger ground lease and triple net (NNN) lease properties offers several compelling advantages:
1) In-N-Out Burger NNN Property Investment: Stable income
In-N-Out Burger’s strong brand loyalty and consistently high sales volumes support reliable, long-term rental income under ground lease and NNN structures.
2) In-N-Out Burger NNN Property Investment: Established tenant
With decades of operating history and a cult-like customer following, In-N-Out Burger is a high-credit, recession-resilient tenant, reducing vacancy and lease default risk.
3) In-N-Out Burger NNN Property Investment: Low management responsibility
Ground lease and NNN lease arrangements typically place taxes, insurance, and maintenance obligations on the tenant, allowing landlords to benefit from a hands-off investment.
4) In-N-Out Burger NNN Property Investment: Favorable lease terms
In-N-Out Burger sites often feature long lease terms with contractual rent escalations, providing income stability and protection against inflation.
5) In-N-Out Burger NNN Property Investment: Real estate value
In-N-Out Burger locations are commonly positioned at high-traffic, irreplaceable corners, which supports strong underlying land value and long-term appreciation potential.
Pros and Cons of In-N-Out Burger Ground Lease and NNN Lease Investment
Pros:
Stable income supported by a highly recognizable, privately owned fast-food brand with strong customer loyalty.
An established tenant with decades of operating history reduces vacancy and lease default risk.
Ground lease and NNN structures minimize landlord management responsibilities.
Long-term leases provide income stability and predictable cash flow over time.
Cons:
Lease renewal risk exists at the expiration of the initial lease term.
Dependence on In-N-Out Burger’s continued brand strength and operational performance.
Limited geographic footprint may restrict re-tenanting options in certain markets.
Minimal landlord control over property operations and future site decisions.
Exposure to broader economic and real estate market risks.
Thorough due diligence—focusing on location quality, lease terms, corporate credit strength, and long-term land value—is essential, and investors should consult real estate and financial professionals to ensure alignment with their investment objectives and risk tolerance.
MarketWatch: In-N-Out Burger
- In-N-Out Burger — Official News & Press Releases
- In-N-Out Burger — Corporate Website
- Industry & Company Coverage — In-N-Out Burger (Reuters)
- Company Profile & Industry Coverage — In-N-Out Burger (Forbes)
- Restaurant Industry News — In-N-Out Burger (Restaurant Dive)
- QSR & Fast-Food Coverage — In-N-Out Burger (QSR Magazine)