Tractor Supply


April 19, 2024

Home Improvements

Tenant Description

Tractor Supply Company, founded in 1938 as a mail-order tractor parts business, has evolved into the largest rural lifestyle retailer in the United States. With over 2,000 stores across 49 states, Tractor Supply caters to the needs of recreational farmers, ranchers, and all those who enjoy living the rural lifestyle. The company's remarkable growth trajectory is a testament to its deep understanding of its customer base and its ability to adapt to changing market dynamics.

Tractor Supply offers an extensive product range that includes everything from pet and animal supplies, lawn and garden items, home and tool products, to workwear and boots. This diverse product mix not only meets the practical needs of its customers but also supports their lifestyle aspirations, fostering a strong and loyal community around the brand. Unique offerings like the Neighbors Club loyalty program further enhance customer engagement and loyalty.

Innovation and technology play a crucial role in Tractor Supply's operations and customer service. The company has invested heavily in e-commerce platforms and omnichannel solutions, providing a seamless shopping experience that combines the convenience of online shopping with the personal touch of in-store service. This tech-forward approach has helped Tractor Supply stay ahead of consumer trends and maintain a competitive edge.

Tractor Supply's expansion strategy is marked by strategic store openings and a focus on underserved rural markets. The company's real estate strategy prioritizes locations that are accessible and convenient for its target demographic, ensuring that stores become an integral part of the communities they serve.

Financially, Tractor Supply has shown resilience and growth, even in challenging economic times. Consistent revenue growth and strong profitability reflect the company's solid market position and operational efficiency. This financial stability, combined with a clear growth strategy, makes Tractor Supply an attractive tenant for commercial real estate, offering landlords a blend of reliability and long-term growth potential.

Average Asking Cap Rate


3 mo avg (375 properties)

Typical Investment/Lease

Average Sale Price




$/Square Foot

$235 - $350

Building SF

20,500 - 24,700

Approx. Store Count


Lease Term

15 Years


5% - 10% Every 5 Years

Stock Symbol


Credit Quality



Average Asking Cap Rate Trend





Reflect only properties with long-term lease.

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