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  Tractor Supply Co.


Average Property & Lease

Average Sale Price$3,863,597
CAP Rate (12mo avg with 10+ lease term)6.00%
NOI$231,421
$/Square Foot$150 - $250
Building Size20,000 +/- sf
Lot Size2 - 5 acres
Lease Term15 Years
Escalations7.5-10% Every 5 Years
CREDIT RATING
N/A
S&P
N/A
Moody's
view credit rating chart
View Net Lease Property Listings at CALKAIN.COM Last Updated: February 15, 2017
Net Lease Advisor Overview

Tractor Supply is a highly sought after brand and has been aggressively expanding in recent years.

Pros

Cons

  • Increases in base term on most leases
  • Excellent yield on a risk adjusted basis
  • Several lease extensions of five years each
  • NN leases make Landlord responsible for roof and structure
  • Rural and tertiary locations
Tenant Description

Tractor Supply Company is the largest operator of rural lifestyle retail stores in the United States. The company operates over 1,600 retail stores in 49 states, employs more than 24,000 team members and is headquartered in Brentwood, Tenn. Its stock is traded on the NASDAQ exchange under the symbol "TSCO".

The company was founded in 1938 as a mail order catalog business offering tractor parts to America's family farmers. Today Tractor Supply is a leading-edge retailer with annual revenues of approximately $6.8 billion.

Tractor Supply stores are located primarily in towns outlying major metropolitan markets and in rural communities. The typical Tractor Supply store has about 15,500 square feet of selling space inside, with a similar amount of outside space. The Company leases approximately 93% of its stores, two distribution sites and its Merchandising Innovation Center(planogram) located in Nashville, Tennessee. Store leases typically have initial terms of 10 to 15 years, with two to four renewal periods of five years each.

Stores supply the unique products to support their customers' rural lifestyle, from welders and generators to animal care products and men and women's work-wear. You can also find pet supplies, animal feed, power tools, riding mowers, lawn and garden products and more. Each store team includes welders, farmers and horse owners who collectively provide an exceptional depth of knowledge and resources.


TRACTOR SUPPLY CO. TREND
CAP Rate

2016 avg: 6.38%

2017 avg: 6.24%

RECENT SALES

Berkeley Springs, WV | 6.06%

Oneida, TN | 6.40%

MORE INFO
www.tractorsupply.com
Google Finance: TSCO
Google News: TSCO