Murphy USA
Interested in selling your Murphy USA NNN property or Murphy USA ground lease property and wondering what you can get for it in today’s changing market?
Contact us for a complimentary broker opinion of value for your off-market Murphy USA NNN property for sale or Murphy USA ground lease property for investment, specifically tailored to support your 1031 exchange requirements. This valuable assessment will provide you with the clarity needed to make informed decisions regarding the sale of your Murphy USA NNN property or the inclusion of a Murphy USA ground lease property in your investment portfolio. As specialists in working with 1031 exchange buyers seeking off-market Murphy USA properties, we are dedicated to delivering competitive offers with reduced fees to help you maximize your investment returns.
Number of locations
As of 2024–2025, Murphy USA operates approximately 1,700–1,750 retail fuel and convenience store locations across the United States.
Murphy USA locations are heavily concentrated in high-traffic suburban and retail-adjacent areas, particularly near Walmart Supercenters, which has historically been a core site strategy.
Core markets include:
Texas, Florida, Arkansas, Louisiana, Oklahoma, Tennessee, Alabama, Georgia, North Carolina, South Carolina, Mississippi, Missouri, and the Midwest and Southeast broadly.
Murphy USA is one of the largest independent fuel and convenience retailers in the U.S.
Revenue and income
Murphy USA is a publicly traded company (NYSE: MUSA), so financials are publicly disclosed.
Key financial highlights (approximate, recent years):
Annual revenue: ~$20–25+ billion
Net income: Typically ~$900 million–$1.1 billion (varies with fuel margins and commodity cycles)
Market capitalization: Multi-billion-dollar public company
Murphy USA generates revenue from:
Retail gasoline and diesel fuel sales
In-store convenience merchandise (snacks, beverages, tobacco)
Private-label products
Food and beverage programs
Loyalty and promotional programs
Fuel sales represent the largest share of revenue, while in-store merchandise contributes a higher-margin component.
Future plans
Murphy USA continues to focus on disciplined growth, operational efficiency, and shareholder returns.
1. Store growth and modernization
Murphy USA is actively investing in:
New-to-industry store development
Larger-format stores with enhanced merchandise offerings
Remodels of legacy locations
Expanded food, beverage, and coffee programs
New stores often feature improved layouts, modern branding, and higher-margin in-store sales.
2. Selective market expansion
Growth is targeted toward:
High-growth Sun Belt states
Suburban corridors with strong traffic counts
Retail-adjacent locations with daily-use demand
Expansion emphasizes return on invested capital over rapid unit growth.
3. Digital and loyalty platform enhancements
Key initiatives include:
Murphy Drive Rewards loyalty program
Mobile app integration
Personalized promotions and fuel discounts
Enhanced customer analytics
Loyalty programs are a significant driver of repeat traffic and fuel volume.
4. Fuel strategy and pricing optimization
Murphy USA focuses on:
Competitive fuel pricing strategies
Efficient fuel supply and logistics
Margin optimization through data-driven pricing
Select alternative fuels and EV readiness pilots
5. Capital allocation and shareholder returns
Murphy USA places strong emphasis on:
Share repurchases
Dividend growth
Disciplined capital expenditures
Strong free cash flow generation
Corporate vs. franchise
Murphy USA is not a franchise.
All locations are corporately owned and operated
Fuel supply, pricing, merchandising, and branding are centrally managed
No independent franchise operators exist
This structure ensures consistent execution, brand standards, and operational efficiency across the portfolio.
Additional information about Murphy USA properties
Founded: 1996 (spun off from Murphy Oil Corporation in 2013)
Headquarters: El Dorado, Arkansas, USA
Public company: Murphy USA Inc. (NYSE: MUSA)
Typical Murphy USA locations include:
Gasoline and diesel fueling
Convenience retail
Food and beverage offerings
Coffee programs
Loyalty-driven fuel discounts
Car washes (select locations)
Murphy USA serves millions of customers daily and remains a leading U.S. fuel and convenience retail operator, supported by a strong balance sheet and disciplined growth strategy.
Murphy USA History
Murphy USA was founded in 1996 as a downstream retail marketing arm of Murphy Oil Corporation, with a strategic focus on operating low-cost, high-volume fuel and convenience stores. The company established its headquarters in El Dorado, Arkansas, and built its early growth model around locating stores adjacent to Walmart Supercenters, benefiting from strong traffic and value-oriented consumers.
Throughout the late 1990s and 2000s, Murphy USA expanded rapidly through organic store development, becoming one of the largest independent fuel retailers in the United States. Its emphasis on competitive fuel pricing, efficient operations, and disciplined capital deployment allowed the brand to gain significant market share across the South, Midwest, and Southeast.
A major milestone occurred in 2013, when Murphy USA was spun off from Murphy Oil Corporation and became a publicly traded company (NYSE: MUSA). This separation allowed Murphy USA to focus exclusively on its retail fuel and convenience business while pursuing growth, modernization, and shareholder returns as a standalone company.
Today, Murphy USA operates approximately 1,700+ locations across the United States. Headquartered in El Dorado, Arkansas, the company continues to invest in new store development, larger-format locations, expanded food and beverage offerings, digital loyalty platforms, and pricing optimization, maintaining its position as one of the leading fuel and convenience retailers in the U.S.
Why Invest in Ground Lease and NNN Lease of Murphy USA?
Investing in Murphy USA ground lease or triple net (NNN) lease properties offers compelling advantages due to the company’s fuel-driven essential retail model, strong operating margins, and national scale. Fuel and convenience store properties remain highly attractive NNN assets because of their daily consumer demand, long operating hours, and location-driven value, especially when leased to a creditworthy operator like Murphy USA.
1) Murphy USA NNN Property Investment: Stable Income
Murphy USA generates recurring revenue through high-volume fuel sales, convenience retail, and in-store merchandise. Fuel demand remains resilient across economic cycles, supporting consistent cash flow and reliable long-term rent payments, which makes Murphy USA a stable NNN tenant for income-focused investors.
2) Murphy USA NNN Property Investment: Established Tenant
Founded in 1996 and publicly traded as Murphy USA Inc. (NYSE: MUSA) since its 2013 spin-off from Murphy Oil Corporation, Murphy USA operates 1,700+ locations nationwide. As one of the largest independent fuel and convenience retailers in the U.S., the company offers strong tenant credit, proven operational scale, and reduced vacancy risk for NNN property owners.
3) Murphy USA NNN Property Investment: Low Management Responsibility
Murphy USA ground leases and NNN leases are typically structured so the tenant is responsible for all major property expenses, including:
Property taxes
Insurance
Maintenance and repairs
This structure provides passive ownership with minimal landlord involvement, making Murphy USA properties especially appealing for 1031 exchange investors and long-term hold strategies.
4) Murphy USA NNN Property Investment: Favorable Lease Terms
Murphy USA commonly executes long-term leases, often 15–20 years, with multiple renewal options and contractual rent escalations. These lease structures support predictable income growth, inflation hedging, and long-term tenant stability.
5) Murphy USA NNN Property Investment: Real Estate Value
Murphy USA sites are typically positioned at high-traffic intersections, frequently adjacent to or near Walmart Supercenters and major retail corridors. Large parcels, strong ingress/egress, and fuel infrastructure contribute to durable real estate value, while the locations often retain future re-tenanting or redevelopment potential beyond the lease term.
Pros and Cons of Murphy USA Ground Lease and NNN Lease Investment
Pros:
Stable income supported by high-frequency fuel and convenience retail demand.
Creditworthy tenant backed by Murphy USA Inc. (NYSE: MUSA), a publicly traded national operator.
Minimal landlord responsibilities, with the tenant typically responsible for taxes, insurance, and maintenance.
Long-term leases (often 15–20 years) with renewal options and built-in rent escalations.
High-traffic, well-located real estate, frequently adjacent to Walmart and major retail corridors.
Cons:
Exposure to fuel price volatility, which can affect store-level profitability over time.
Environmental risks related to underground fuel storage tanks require careful due diligence.
Long-term uncertainty from electric vehicle adoption and alternative energy trends.
Specialized fuel-station design limits alternative uses during the lease term.
Lease renewal and re-tenanting risk at expiration, potentially involving remediation or redevelopment costs.
As with any NNN investment, it is essential to evaluate site demographics, lease terms, tenant credit strength, local deposit base, and long-term market demand when considering a Murphy USA property. Working with experienced NNN real estate professionals and financial advisors can help ensure the investment aligns with your goals, risk tolerance, and 1031 exchange strategy.