Tractor Supply Co

• Tractor Supply Company operates 2,602 stores nationwide (2,395 Tractor Supply and 207 Petsense by Tractor Supply locations) across 49 states, generating $15.52 billion in net sales for fiscal year 2025, up 4.3% year-over-year — providing investors with institutional-grade, publicly traded (NASDAQ: TSCO) net lease credit.
• Tractor Supply holds a Baa1 rating from Moody’s and a BBB rating from S&P Global, both affirmed with a stable outlook in March 2026, reflecting consistent cash flow and conservative financial policies.
• Rural lifestyle retail — feed, livestock supplies, hardware, and home/farm maintenance products — is among the most need-based and e-commerce-resistant categories in retail real estate, supporting durable, non-discretionary customer demand.
• Rent increases 5.0% every 5 years throughout the lease term and all option periods. Annual rent grows from $288,890.76 (Years 1–5) to $303,335.28 (Years 6–10), $318,502.08 (Years 11–15), $334,427.16 at the First Extension Term (Years 16–20), $351,148.52 at the Second Extension Term (Years 21–25), $368,705.95 at the Third Extension Term (Years 26–30), and $387,141.25 by the Fourth Extension Term (Years 31–35), pushing the cap rate from 6.15% at closing to approximately 8.24% by the final option period.
• The investor acquires full ownership of the land and building, providing maximum flexibility and long-term value retention.
• Located within the Colonial Shoppes retail center, the Property is situated on South State Street (US Highway 601), a primary commercial corridor running through Yadkinville, the Yadkin County seat. The immediate trade area along the corridor includes other retailers such Food Lion, O’Reilly Auto Parts, CVS, Goodwill, Hardee’s, Advance Auto Parts, McDonald’s, Sheetz, a new Starbucks, and many more, creating more retail synergy.
• The immediate shopping center includes Dollar Tree, H&R Block, Fancy Nails, and A Taste of Italy Restaurant, with a freestanding Hardee’s restaurant immediately adjacent — supplemented by a Food Lion-anchored grocery center located approximately a third of a mile north on the same corridor, reinforcing consistent daily consumer traffic.
• At almost 40,000 SF, this makes for a larger than normal format, serving not only residents for goods and services in the immediate trade area, but also the surrounding 754+ farms and 98,000+ acres of agricultural land.
• Tractor Supply has committed to the market through the adaptive reuse of an existing retail building, reinforcing the strength of the corridor and validating the site’s long-term retail fundamentals. Rather than incurring the higher costs associated with new construction, Tractor Supply selected an established site with existing infrastructure, allowing for lower occupancy costs, faster delivery, and improved store-level economics.
• The NN lease structure minimizes landlord responsibilities by shifting the majority of operating expenses to Tractor Supply, allowing investors to benefit from a reliable, low-management investment.