Walmart NNN Investor Hub | Cap Rate Trends, Credit Rating Trends, Lease Terms & Due Diligence
Last Year Cap
5.3%
This Year Cap
5.5%
Cap Change
0.3%
Last Year Rating
AA
This Year Rating
AA
Rating Change
No change
Walmart – NNN Cap Rate Trend
Cap Rate Trends
| wdt_ID | wdt_created_by | wdt_created_at | wdt_last_edited_by | wdt_last_edited_at | Tenant | Year | Cap Rate |
|---|---|---|---|---|---|---|---|
| 5779 | admin2 | 2026 04:17 AM | admin2 | 2026 04:17 AM | 7 Brew | 2,020 | 6.5 |
| 5780 | admin2 | 2026 04:17 AM | admin2 | 2026 04:17 AM | 7 Brew | 2,021 | 6.3 |
| 5781 | admin2 | 2026 04:17 AM | admin2 | 2026 04:17 AM | 7 Brew | 2,022 | 6.0 |
| 5782 | admin2 | 2026 04:17 AM | admin2 | 2026 04:17 AM | 7 Brew | 2,023 | 6.3 |
| 5783 | admin2 | 2026 04:17 AM | admin2 | 2026 04:17 AM | 7 Brew | 2,024 | 6.6 |
| 5784 | admin2 | 2026 04:17 AM | admin2 | 2026 04:17 AM | 7 Brew | 2,025 | 6.6 |
| Tenant | Year | Cap Rate |
Credit (what net-lease buyers care about)
Credit Snapshot
Walmart
Walmart Net Lease: Secure, Essential Investment
Walmart is one of the largest retail tenants in the United States. This guide highlights key factors such as cap rates, lease structures, tenant credit strength, and due diligence considerations.
Investors often target Walmart properties for:
- Stable Long-Term Income Potential
- Strong National Brand Recognition
- High Customer Traffic and Retail Demand
- Attractive 1031 Exchange Compatibility
Reviewing lease terms, rent escalations, remaining lease duration, and landlord responsibilities is important to evaluate long-term investment performance.
Walmart Net Lease Properties for 1031 Exchange Buyers
Walmart net lease assets vary based on store format and lease structure. Buyers should review the remaining lease term, renewal options, rent escalations, corporate guarantees, and location strength to assess risk and return.
Many properties operate under NNN or modified NNN leases, where tenants may cover taxes, insurance, and maintenance. Reviewing the lease agreement is essential before pricing or underwriting the asset.
Walmart – Credit Trend (S&P vs Moody’s)
Tenant_Rating_Trend
| wdt_ID | wdt_created_by | wdt_created_at | wdt_last_edited_by | wdt_last_edited_at | TenantKey | Tenant | Year | Moody | SP | Moody_Grade | SP_Grade | Moody_GradeRank | SP_GradeRank |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 1 | admin2 | 2025 03:43 PM | admin2 | 2025 03:43 PM | 7eleveninc | 7-Eleven, Inc. | 2022 | Baa2 | A | Lower Medium Grade | Upper Medium Grade | 5 | 6 |
| 2 | admin2 | 2025 03:43 PM | admin2 | 2025 03:43 PM | 7eleveninc | 7-Eleven, Inc. | 2023 | Baa2 | A | Lower Medium Grade | Upper Medium Grade | 5 | 6 |
| 3 | admin2 | 2025 03:43 PM | admin2 | 2025 03:43 PM | 7eleveninc | 7-Eleven, Inc. | 2024 | Baa2 | A | Lower Medium Grade | Upper Medium Grade | 5 | 6 |
| 4 | admin2 | 2025 03:43 PM | admin2 | 2025 03:43 PM | 7eleveninc | 7-Eleven, Inc. | 2025 | Baa2 | A | Lower Medium Grade | Upper Medium Grade | 5 | 6 |
| 5 | admin2 | 2025 03:43 PM | admin2 | 2025 03:43 PM | 99centsonlystoresllc | 99 Cents Only Stores, LLC | 2022 | Caa2 | CCC+ | Substantial Risk | Substantial Risk | 2 | 2 |
Walmart Health Stock Price (NASDAQ:WMT)
Walmart Investment Market Statistics
AVERAGE SALE PRICE
BUILDING SIZE
AVERAGE NOI
LAND
$/SF RANGE
LEASE TERM SHOWN
Walmart Investor Snapshot (Quick Facts)
Origins & Growth (Past)
- Began as a single discount store in Rogers, Arkansas
- Founded by entrepreneur Sam Walton in 1962
- Focused on offering everyday low prices to rural communities
- Expanded rapidly across the United States during the 1970s and 1980s
- Pioneered large-format discount retail and supply chain efficiency
- Introduced the Supercenter concept combining grocery and general merchandise
- Invested heavily in logistics, distribution networks, and technology
- Became one of the largest retailers in the world with thousands of stores globally
Where Walmart Stands Today
- Large U.S. and global retail footprint
- High daily customer traffic across stores
- Leader in everyday low-price retail strategy
- Expanding e-commerce and omnichannel shopping capabilities
- Strong grocery sales and essential goods demand
- Investing in technology and supply chain
- Growing private-label brands and store formats
Where Walmart Stands Today
- E-commerce and omnichannel growth
- Expanding grocery and fresh offerings
- Technology and automation investments
- Strong private-label brand expansion
- Store modernization and format optimization
- Supply chain and logistics leadership
- Value retail demand tailwinds
Why investors buy Walmart NNN Properties or Walmart ground Lease Properties?
Pros (what buyers like)
- Walmart brand strength
Globally recognized retailer with strong credit profile and long operating history - High-traffic retail anchor
Walmart stores attract consistent daily traffic and often anchor major retail corridors - Strong real estate locations
Properties typically sit on large parcels in dominant retail trade areas - Long-term lease stability
Many properties feature long lease terms attractive to passive and 1031 investors
Cons (what can bite you)
- Large building size
Big-box layouts can make re-tenanting difficult if a store closes - Lease structure differences
Some leases may include landlord responsibilities for roof or structure - Limited rent escalations
Certain leases have minimal rent increases during the base term - Market competition risk
Performance may be influenced by nearby Walmart locations or competing retailers
Investor Decision Framework (Buy / Hold / Sell)
✓ Strong “Buy Box” for a Walmart Net Lease
• 10+ years lease term remaining (or strong renewal options) • Absolute NNN or clean NNN lease structure • Dominant retail corridor with strong regional draw • Supercenter or Neighborhood Market with grocery anchor • Rent aligned with market to support resale and stability
02
⚠ Yellow Flags (Price Accordingly)
• Modified NNN lease with landlord roof or structure responsibility • Flat rent with minimal escalations during base term • Older store format requiring future redevelopment • Secondary retail location with weaker surrounding demand • Large building size limiting future tenant flexibility
Find out more
Walmart Background & History
Walmart is one of the largest retailers in the world, known for its big-box stores offering groceries, household goods, and everyday essentials at competitive prices. What began as a single discount store in Arkansas grew into a nationwide retail network focused on high-volume sales and operational efficiency.
Over time, Walmart expanded through multiple store formats, including Supercenters, Neighborhood Markets, and Discount Stores. Today, customers rely on Walmart for groceries, general merchandise, pharmacy services, and daily essentials.
As shopping habits evolved, the company invested heavily in e-commerce, curbside pickup, home delivery, and store modernization to support both in-store and online shopping.
Why Walmart Matters to NNN Investors
Walmart operates thousands of stores across the United States and serves millions of customers each week. Many locations function as major retail anchors, drawing consistent regional traffic and supporting surrounding businesses.
Strong grocery demand and essential-goods sales help maintain steady customer traffic across economic cycles. Continued investment in logistics, automation, and omnichannel retail also strengthens store performance.
What Buyers and Sellers Should Evaluate
For investors evaluating Walmart net lease properties, the investment thesis often centers on location strength, lease structure, and remaining lease term.
Buyers typically review factors such as cap rates, tenant credit, store format, building size, and trade area demand. Because Walmart buildings are large, investors also consider redevelopment potential and long-term site value.
Strong Walmart investments are usually located in dominant retail corridors with strong traffic, population density, and regional shopping demand.
our team of experts are here for you
Our team helps investors evaluate NNN properties with practical, market-based guidance. In addition, we support buyers and sellers with lease review, pricing analysis, and due diligence strategy.
Whether you are comparing Walmart ground lease properties or fee simple Walmart assets, we can help you review the details that affect risk and long-term value. As a result, clients can make more confident decisions based on lease structure, location quality, and investment goals.
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