McMinnville, OR - Tractor Supply Co

Description:

SRS National Net Lease is pleased to offer the opportunity to acquire the fee simple interest (land & building ownership) in a NN leased Tractor Supply Co. (Nasdaq: TSCO) investment property located in McMinnville, Oregon. The corporate entity recently signed a brand new 15-year lease with four (5-year) options to extend, demonstrating their long-term commitment to the site. The lease includes 5% scheduled rental increases every five years throughout the initial term and at the beginning of each option period, providing consistent NOI growth and a built-in hedge against inflation. With a NN structure, the tenant is responsible for CAM, taxes, insurance, and most on-site maintenance, while landlord obligations are limited to the roof, structure, foundation, parking lot (excluding snow & ice removal), and exterior utility lines—resulting in an ideal low-management, passive investment. Tractor Supply operates 2,400+ locations nationwide and maintains strong corporate performance with an average unit volume of approximately $6.5MM.

The property benefits from exceptional positioning directly across from a Lowe’s Home Improvement–anchored center, featuring national and credit tenants such as The Mattress Shoppe, Burger King, Carl’s Jr., Shell Gas Station, and others. It is also located just south of an Albertsons-anchored shopping center supported by prominent co-tenants including Dutch Bros, Starbucks, Chevron, and more. This concentrated cluster of major retailers creates strong tenant synergy and drives consistent crossover traffic to the subject property. The 5-mile trade area is home to more than 39,048 residents and 17,061 employees, offering a reliable consumer base. An average household income of $98,732 underscores the strength of the local economy and supports long-term stability and performance for this Tractor Supply location.

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Listing ID: a28TP000002CCNdYAO