Target
Interested in selling your Target NNN property or Target 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 Target NNN property for sale or Target 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 Target NNN property or the inclusion of a Target ground lease property in your investment portfolio. As specialists in working with 1031 exchange buyers seeking off-market Target properties, we are dedicated to delivering competitive offers with reduced fees to help you maximize your investment returns.
Number of locations
As of early 2025, Target operates about 1,978 stores across the United States. As of January 28, 2023, the total was 1,948 stores.
Revenue and income
For fiscal year 2022, Target’s total revenue was US$ 109,120 million. Net earnings (net income) from continuing operations in 2022 were US$ 2,780 million.
Future plans
Big sales growth target by 2030 — Target aims to drive more than US $15 billion in additional sales by 2030 through investments in assortment, channels, and fulfillment.
Expanding product assortment & private-brands innovation — Starting 2025, Target will reimagine key categories (like gaming, sports, toys, home), expand its owned-brand lines (e.g. new “Good & Gather” collaborations), roll out hundreds of new products in food, beverage, pet supplies and essentials to appeal to broader audiences.
Omnichannel & digital expansion — The retailer plans to significantly grow its third-party online marketplace (Target Plus), raising third-party digital sales from about US $1 billion in 2024 to over US $5 billion in 2030. Meanwhile, it will continue blending physical-store, mobile app, social commerce and digital capabilities to create a seamless shopping experience.
Store growth + remodels + stores-as-hubs model — Over the next 10 years, Target plans to open 300+ new stores and remodel many existing ones. In 2025 alone, about 20 new stores (mostly larger format) are expected. The remodels and new formats support both in-store shopping and serve as fulfillment hubs for online orders.
Supply chain & fulfilment enhancements — Target is investing heavily in its supply-chain infrastructure, including expansion of sortation centers, modernization of inventory management (leveraging AI), improving delivery speed and reliability (including next-day delivery in many metro areas), and scaling up same-day and in-store pickup/drive-up services. These moves support omnichannel growth and quicker fulfilment.
Loyalty and customer-engagement programs — The company is evolving its loyalty program (Target Circle) to offer more personalized shopping and rewards options. It aims to deepen customer engagement, retention, and drive repeat purchases as part of its long-term growth plan.
Corporate vs. franchise
Target is a publicly traded corporation (not a franchise chain), operated by Target Corporation. There is no widely available public data suggesting a “franchise vs. corporate-owned” split for standard Target retail stores — all mainstream Target stores are operated under the corporate organization.
Additional information Target Properties
1. Target began in 1962: the very first store opened in Roseville, Minnesota.
2. Target operates in all 50 U.S. states (and D.C.) — it has a nationwide footprint.
3. The chain offers a wide variety of merchandise: general goods, groceries, household items, apparel, electronics, etc.—not just convenience-store fare.
4. Headquarters: Target Corporation is headquartered in Minnesota, USA.
Target History
Target’s origins date back to 1902, when George Dayton founded the Dayton Dry Goods Company in Minneapolis, Minnesota. The company grew steadily as a respected department store known for value and customer service. In 1962, Dayton’s leadership introduced a new kind of discount retail concept—modern, stylish, and affordable—launching the first Target store in Roseville, Minnesota.
Throughout the following decades, Target expanded rapidly across the United States, becoming known for its clean store layouts, curated product selection, and strong private-label brands. The company continued innovating within retail, emphasizing design partnerships, improved shopping experiences, and a blend of value and quality.
Today, Target operates nearly 2,000 stores nationwide, supported by a robust digital and omnichannel platform. With initiatives such as same-day delivery, Drive Up services, and modernized store formats, Target remains one of the leading retailers in the United States, consistently evolving to meet customer needs and market trends.
Why Invest in Ground Lease and NNN Lease of Target?
Investing in Target’s ground lease and triple net (NNN) lease properties offers compelling reasons:
1) Target NNN Property Investment: Stable income
With a nationally recognized brand and strong financial performance, Target provides consistent and reliable income streams. Ground and NNN leases deliver predictable long-term cash flows backed by an investment-grade tenant.
2) Target NNN Property Investment: Established tenant
Target is a leading Fortune 500 retailer with nearly 2,000 stores across the United States. Its strong brand, diverse customer base, and proven retail model significantly reduce vacancy risk and support long-term tenant stability.
3) Target NNN Property Investment: Low management responsibility
In ground lease and NNN lease structures, Target typically handles property taxes, insurance, maintenance, and operating expenses. This minimizes landlord responsibilities and makes Target assets highly passive investments.
4) Target NNN Property Investment: Favorable lease terms
Target often signs long-term leases—commonly 15 to 25+ years—with built-in rent escalations. These structured increases support predictable income and long-term rental growth.
5) Target NNN Property Investment: Real estate value
Target properties are strategically located in high-traffic, high-visibility retail corridors. These prime locations enhance property value, provide strong residual real estate fundamentals, and offer potential for capital appreciation.
Pros and Cons of Target Ground Lease and NNN Lease Investment
Pros:
1. Stable income from a nationally recognized, investment-grade brand.
2. Established tenant reduces vacancy and lease default risks.
3. Minimal management responsibility for landlords.
4. Long lease terms provide stability and potential income growth.
Cons:
1. Lease renewal risk when the term expires.
2. Dependency on Target’s success, financial performance, and retail market challenges.
3. Market competition and shifts in consumer behavior may affect profitability.
4. Limited control over property decisions.
5. Economic and market risks inherent in real estate investments.
Thorough due diligence and consideration of location, lease terms, tenant strength, and investment strategy are essential. Seek guidance from real estate professionals and financial advisors to align the investment with your goals and risk tolerance.
MarketWatch: Target
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