Tractor Supply Co
Interested in selling your Tractor Supply NNN property or Tractor Supply 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 Tractor Supply NNN property for sale or Tractor Supply ground-lease property for investment, specifically tailored to support your 1031 exchange requirements. This valuable assessment will provide you with the necessary clarity to make informed decisions regarding the sale of your Tractor Supply NNN property or the inclusion of a Tractor Supply ground-lease property in your investment portfolio. As specialists in working with 1031 exchange buyers seeking off-market Tractor Supply properties, we are dedicated to delivering competitive offers with reduced fees to help you maximize your investment returns.
Number of locations
As of mid-2025, Tractor Supply operates around 2,335 stores in 49 U.S. states, plus additional pet-specialty stores under its brand Petsense by Tractor Supply. At the end of 2024, the company operated 2,296 Tractor Supply stores and 206 Petsense stores, underlining its extensive footprint.
Revenue and income
For fiscal year 2024, Tractor Supply reported net sales of US$ 14.88 billion, up from US$ 14.56 billion in 2023. Net income for 2024 was approximately US$ 1.10 billion, with diluted EPS of about US$ 2.04. For Q1 2025, net sales were US$ 3.47 billion, showing modest growth over the prior year.
Future plans
Under its long-term strategic plan (Life Out Here 2030), Tractor Supply has set a long-term store-count target of 3,200 stores — significantly above current levels. In 2025 alone, the company plans to open approximately 90 new Tractor Supply stores (and additional Petsense stores) to expand its footprint. Tractor Supply also continues to diversify its offerings: beyond traditional farm/ranch/home supplies, it serves pet owners, homeowners, DIY enthusiasts — broadening its customer base.
Corporate vs. franchise
Tractor Supply Company is a publicly traded company (NASDAQ: TSCO). It positions itself as the largest rural-lifestyle retailer in the U.S., serving farmers, ranchers, pet owners, landowners, and DIY/home-improvement customers.
Additional information H-E-B Properties
1. The company was founded in 1938 by Charles E. Schmidt, originally as a mail-order business selling tractor parts.
2. The first retail store opened in 1939 in Minot, North Dakota.
3. Over decades, Tractor Supply expanded its product assortment — offering everything from pet supplies, livestock feed, farm and ranch goods, home improvement, hardware, lawn & garden supplies, tools, and more.
4. The company also acquired smaller specialty retailers, including Petsense, to bolster its pet- and animal-care offerings.
Tractor Supply History
Tractor Supply Company was founded in 1938 as a mail-order business supplying tractor parts to farmers. A year later, the first retail store opened in Minot, North Dakota, marking the start of the company’s nationwide growth. Over the decades, TSC expanded its offerings beyond equipment parts to include farm supplies, livestock feed, pet products, tools, and rural-lifestyle goods.
Headquartered in Brentwood, Tennessee, Tractor Supply has grown into the largest rural-lifestyle retailer in the United States, operating more than 2,300 stores. The company continues to grow through strategic expansion and customer-focused innovation while maintaining its mission of serving America’s farmers, ranchers, and rural communities.
Why Invest in Ground Lease and NNN Lease of Tractor Supply?
Investing in a Tractor Supply ground lease or NNN lease property can present a compelling opportunity; here are the reasons:
1) Tractor Supply NNN Property Investment: Stable income
As a large, established, and publicly traded rural-lifestyle retailer with a strong footprint across 49 states, Tractor Supply offers reliable long-term income potential under NNN or ground leases.
2) Tractor Supply NNN Property Investment: Established tenant
Tractor Supply’s proven track record, scale, and broad customer base (farmers, pet owners, homeowners, DIYers) help reduce the risk of vacancy or lease default.
3) Tractor Supply NNN Property Investment: Low management responsibility
Under typical NNN or ground lease agreements, the tenant (i.e. Tractor Supply) is responsible for maintenance, insurance, taxes, and operational expenses — offering a passive, hands-off income stream for the landlord. Given the company’s size and professionalism, this can be attractive for investors.
4) Tractor Supply NNN Property Investment: Favorable lease terms & Growth potential
With the company’s growth strategy targeting up to 3,200 stores under its Life Out Here 2030 plan, demand for real estate (new store locations) may remain robust, supporting long-term lease stability and potential value of ground-lease properties. The company’s diversification (farm/ranch supplies, pet supplies, home & garden, hardware, etc.) creates a broad and resilient customer base, which supports long-term viability.
5) Tractor Supply NNN Property Investment: Real estate value and demographics
Tractor Supply stores often target suburban, exurban, and rural communities — markets where demand for home-improvement, farm/ranch, pet and land-management supplies typically remains stable, making such store properties potentially attractive investments.
Pros and Cons of Tractor Supply Ground Lease and NNN Lease Investment
Pros:
1. Tractor Supply is the largest rural-lifestyle retailer in the U.S., with consistent revenue growth and solid financial performance.
2. Most Tractor Supply leases are 10–20 years with multiple extension options and predictable rent escalations.
3. Under NNN leases, the tenant typically handles taxes, insurance, maintenance, and repairs, creating truly passive income.
4. Stores often serve underserved markets with limited competition, resulting in strong customer loyalty and steady sales.
5. Essential goods such as pet supplies, livestock feed, and home maintenance items help maintain stable business even in economic downturns.
Cons:
1. While rural markets often have loyal customers, their economic growth potential may be slower than urban markets.
2. Tractor Supply buildings typically range from 15,000–25,000 sq. ft., which can limit re-tenanting options if the tenant ever relocates.
3. Strong tenant credit often results in lower returns compared to riskier tenant types.
4. Economic shifts affecting farming, ranching, or rural households may influence store performance in certain regions.
5. The specialized layout (garden centers, outdoor areas, large parking lots) can increase conversion costs for new tenants.
Thorough due diligence and careful evaluation of Tractor Supply store locations, lease terms, tenant financial strength, and overall investment strategy are essential. Before proceeding, investors should analyze local market conditions, store performance, and Tractor Supply’s long-term operational stability. Consulting with experienced real estate professionals and financial advisors will help ensure the investment aligns with your financial goals and risk tolerance.
MarketWatch: Tractor Supply Company
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