QuikTrip
Interested in selling your QuikTrip NNN property or QuikTrip 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 QuikTrip NNN property for sale or QuikTrip 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 QuikTrip NNN property or the inclusion of a QuikTrip ground lease property in your investment portfolio. As specialists in working with 1031 exchange buyers seeking off-market QuikTrip properties, we are dedicated to delivering competitive offers with reduced fees to help you maximize your investment returns.
Number of locations
As of April 2025, QuikTrip operates about 1,155 convenience-store and fuel locations across the Midwestern, Southern, and Western United States.
Revenue and income
QuikTrip is privately held, but reported figures and industry estimates indicate strong scale:
Reported revenue for fiscal year 2024: approximately US$14.16 billion.
- QuikTrip combines fuel, convenience retail, and fresh-food sales (QT Kitchens), producing diversified revenue streams that help stabilize unit economics versus single-use retail.
Future plans
Big growth initiatives
QuikTrip continues an aggressive, data-driven expansion program focused on travel centers, high-volume suburban retail, and new regional markets. Key initiatives include:
1. Continued U.S. expansion
QuikTrip has moved rapidly past the 1,000-store milestone (announced April 2023) and continues opening new units across existing and adjacent states — including recent entries and development activity in Ohio, Nevada, and plans reported for Florida and other states.
2. Travel centers & truck-friendly locations
QT has added larger travel-center style sites (multiple diesel bays, expanded truck services) to capture freight and long-haul traffic in select corridors. These larger formats diversify revenue and increase site throughput.
3. QT Kitchens & fresh-food focus
QuikTrip’s QT Kitchens (made-fresh foods, premium beverages, grab-and-go items) are a central growth lever — raising in-store AUR (average unit revenue) and attracting repeat customers beyond fuel purchasers. QT Kitchens are being rolled out and enhanced across new store builds.
4. Technology & operations
Investments in mobile ordering, contactless payments, digital menuing, and kitchen automation aim to speed service, improve order accuracy, and increase throughput in drive-thru and in-store channels. Industry reports and company news point to ongoing tech upgrades companywide.
5. Site selection & regional penetration
QuikTrip emphasizes rigorous, data-driven site selection: high-traffic commuter corridors, highway interchanges, and underserved suburban nodes. The company’s regional push includes deeper penetration of existing states and entry into new states (Florida, Kentucky, Indiana planned or reported).
Corporate vs. franchise
QuikTrip is a privately held corporation (Cadieux family ownership) headquartered in Tulsa, Oklahoma. It primarily operates corporate-owned stores rather than a traditional franchise model — giving QuikTrip tight operational control and consistent store standards across its network.
Additional information about QuikTrip properties
Founded: 1958 in Tulsa, Oklahoma (founders Burt Holmes and Chester Cadieux).
Store types: Full-service fuel + convenience stores, travel-center formats with truck diesel bays, and high-throughput urban/suburban stores.
QT Kitchens: Many locations feature QT Kitchens — fresh-made sandwiches, bakery items, specialty beverages and desserts — which materially raise per-store sales.
Headquarters: Tulsa, Oklahoma.
QuikTrip History
QuikTrip opened its first store in 1958 in Tulsa. The company added fuel sales in the 1970s and steadily expanded regionally through the late 20th and early 21st centuries. QuikTrip celebrated its 1,000th store in April 2023 and has continued rapid openings since — a sign of sustained growth and operational scale.
Why Invest in Ground Lease and NNN Lease of QuikTrip?
Investing in QuikTrip ground lease and triple-net (NNN) properties can be attractive for several reasons:
1) QuikTrip NNN Property Investment: Diversified income
QuikTrip sites generate revenue from fuel, in-store retail, and fresh food service (QT Kitchens). This blend creates multiple demand drivers and revenue streams, potentially offering more stable cash flow than single-use retail tenants.
2) QuikTrip NNN Property Investment: Strong operational track record
With over 1,100 stores and continued expansion, QuikTrip demonstrates disciplined growth and a proven operating model that supports tenant reliability.
3) QuikTrip NNN Property Investment: Low landlord responsibility (when structured properly)
When correctly negotiated, a true NNN or ground lease can place most operating responsibilities (maintenance, taxes, insurance, compliance) on the tenant — making QuikTrip assets attractive for passive income investors and 1031 exchange buyers.
4) QuikTrip NNN Property Investment: Favorable lease terms
Long-term ground leases or NNN agreements with regional convenience operators often include multi-year base terms and periodic escalations. Exact terms vary by deal and market; favorable terms depend on negotiation, tenant credit, and site economics.
5) QuikTrip NNN Property Investment: Real-estate fundamentals
QuikTrip selects sites with strong traffic fundamentals (interstate access, commuter corridors, high-density suburbs). Those site characteristics typically support long-term real-estate value and buyer demand.
Pros and Cons of QuikTrip Ground Lease and NNN Lease Investment
Pros:
Diversified revenue (fuel + retail + food) reduces single-channel risk.
Large, growing chain with proven regional dominance.
High daily foot traffic and repeat customer behavior.
Potential for hands-off ownership under true NNN/ground lease structures.
Strong site selection improves long-term property fundamentals.
Cons:
Fuel revenue exposes the business (and lease economics) to fuel-price volatility and regulatory changes.
Fuel/environmental considerations (underground tanks, remediation exposure) add complexity for some buyers.
Lease returns depend heavily on specific lease language (who handles environmental risks, capex, site upgrades).
Market/regional concentration risk — performance may vary by geography.
Travel-center and truck-stop formats have higher build costs and different operating footprints, affecting cap-rate comparability.
Thorough due diligence and careful evaluation of location quality, lease structure, tenant strength, environmental liabilities (fuel-related issues), and long-term investment strategy are essential when considering a QuikTrip NNN or ground lease property. Consult experienced real-estate attorneys, environmental consultants, and financial advisors to ensure the investment aligns with your portfolio goals, risk tolerance, and 1031 exchange requirements.
MarketWatch: QuikTrip
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