Tractor Supply Company

• Tractor Supply Company is the largest rural lifestyle retailer in the United States, ranking No. 296 on the Fortune 500 and employing more than 52,000 team members, with 2,395 Tractor Supply stores across 49 states plus 206 Petsense by Tractor Supply stores in 23 states.
• Tractor Supply holds a ‘BBB’ rating from S&P Global Ratings (affirmed March 2026) and a Baa1 rating from Moody’s, placing it among a select group of investment-grade net lease retail tenants alongside Kroger and AutoZone.
• Fiscal year 2025 net sales increased 4.3% to a record $15.52 billion, and the company added 99 net new stores during the year, underscoring continued expansion and operating strength.
• Tractor Supply’s core categories — pet, livestock, agriculture, and home maintenance products — serve non-discretionary rural and hobby-farm spending patterns that have proven durable across economic cycles.
• Tractor Supply’s focus on livestock feed, fencing, farm and ranch supplies, pet products, propane and outdoor equipment generates frequent customer visits and supports long-term occupancy.
• Four, 5-Year Renewal Options, representing up to ±31 years of total potential lease commitment. ±11.25 Years of term remaining on the initial term as of the current listing date.
• Throughout the base term and option periods, annual rent grows from $180,000 in Years 1-5 to $198,450 in Years 11-15, and continues escalating through each 5-year option period to $241,217 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.
• The investor acquires full ownership of the land and building, providing maximum flexibility and long-term value retention.
• 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.
• International Falls functions as the primary retail hub for a vast trade area in Northern Minnesota. Nearby retailers include Menard’s, Super One Foods, Hardees, Dollar Tree, and Snap Fitness, among others.
• The property sits along Highway 71 near the Fort Frances–International Falls International Bridge, the busiest land port of entry in Minnesota, supporting roughly $12 billion in annual cross-border trade and generating consistent commercial and consumer traffic from Fort Frances, Ontario.
• 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.
• Voyageurs National Park is located 11 miles east of International Falls, supporting a built-in base of hunters, anglers, boaters, and outdoor recreation customers directly aligned with Tractor Supply’s core product categories.