Tractor Supply
Investment-grade (BBB) rural lifestyle retailer growing ~5% a year with large-format new builds and ~90 openings per year. Leases are commonly NN with landlord roof/parking-lot obligations, so diligence on building and paving condition matters.
- US units
- 2,463
- Q2 2026 (excl. 209 Petsense)
- 3Y net growth
- +19.2%
- vs. FY2022
- Credit rating
- BBB
- Investment grade
- Typical term
- 15 yr
- NN (roof & structure landlord)
- Model
- Corporate
- Public
Unit count
Tractor Supply in the news
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Tractor Supply net lease FAQ
What is Tractor Supply's credit rating?
Tractor Supply is rated BBB, which is investment grade. Check the lease to confirm whether the rated entity is the actual guarantor.
How many Tractor Supply locations are there in the US?
Tractor Supply reported about 2,463 US locations as of Q2 2026 (excl. 209 Petsense). That is +19.2% versus 2,066 in FY2022.
What does a typical Tractor Supply net lease look like?
Lease type: NN (roof & structure landlord). Initial term: 15 yr. Rent increases: 5% every 5 yr. These are market-typical terms; actual deals vary by vintage, location and whether the lease is corporate or franchisee-signed.
Is Tractor Supply corporate or franchised?
Operating model: Corporate. For net lease investors this determines whether rent is backed by the corporate parent or by a franchisee.