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Fair Value of Financial Instruments
12 Months Ended
Dec. 31, 2023
Fair Value Disclosures [Abstract]  
Fair Value of Financial Instruments

Note 10 – Fair Value of Financial Instruments:

NNN believes the carrying value of its Credit Facility approximates fair value based upon its nature, terms and variable interest rate. NNN believed that the carrying value of its mortgages payable at December 31, 2022, approximate fair value based upon current market prices of comparable instruments (Level 3). NNN had no mortgages payable outstanding at December 31, 2023. At December 31, 2023 and 2022, the fair value of NNN's notes payable excluding unamortized discount and debt costs, were $3,801,367,000 and $3,140,774,000, respectively, based upon quoted market prices as of the close of the year, which is a Level 1 valuation since NNN's notes payable are publicly traded.