Tractor Supply NNN Properties for Sale in Florida
Tractor Supply Company (NASDAQ: TSCO) is the largest rural lifestyle retailer in America with approximately 2,300 stores. Strong investment-grade credit (A-) and consistent expansion make Tractor Supply NNN properties attractive for investors seeking rural/secondary market exposure with corporate guarantees.
Typical Cap Rate
5.75% - 6.50%
Lease Term
15 - 20 years
Price Range
$3M - $6M
Building Size
19,000 - 24,000 SF
Lot Size
3.50 - 5.00 acres
Credit Rating
S&P: A-
Investment Highlights
- Strong investment-grade credit (A-)
- Largest rural lifestyle retailer in America
- 15-20 year lease terms
- Absolute NNN lease structure
- Rural/secondary market locations (reduced competition)
- Consistent expansion and strong financial performance
Lease Structure
Tractor Supply leases are typically 15-20 year absolute NNN with 4 five-year renewal options and 10% rent bumps every 5 years. Corporate guarantee from Tractor Supply Company.
Tractor Supply Tenant Profile
Tractor Supply Company operates 2,300+ stores across 49 states. Revenue $14B+. Credit: S&P A-, Moody's Baa1 (solid investment grade). Growing petfood and animal supply segments drive consistent same-store sales.
Tractor Supply in Florida
Florida has 80+ Tractor Supply locations primarily in rural and suburban markets. New Florida BTS stores trade at 5.75-6.25% cap rates.
Why Buy Tractor Supply
- +Strong investment-grade credit in a specialty category
- +Large footprint with rural/suburban diversification
- +Long-term lease commitments
- +Consistent financial performance and expansion
- +Limited competition in rural markets
Considerations
- •Large lot size concentrates land basis
- •Rural markets may have less liquidity at resale
- •Large building size limits re-leasing options
- •Ecommerce pressure on rural retail warrants monitoring
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