Tractor Supply NNN
For Sale
$7,043,478
1200 E Royall Blvd, Malakoff, TX 75148
Purpose-built modern construction completed in 2024 for rural lifestyle retail operations.
Property Size23,957 SF
Days on Market11
Property Features for 1200 E Royall Blvd
General Information
Standard status
Active
Size
23,957 SF
Property subtype
Commercial
Lease Term
±17.5 YRS
Building Details
Building Size
23,957 SF
Year Built
2024
Tenancy
Single
Listing Agency:
Matthews Real Estate Investment Services
(949) 662-2252
Listed By:
Chad Kurz · License #01911198 (CA)
(949) 662-2252
Source:
Matthews
Added: Aug 12
Changed: Aug 15
Last Checked: Aug 21 at 3:52AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Matthews Real Estate Investment Services
Investment Insights
Based on property information with market context.
This NNN property was completed in 2024 and developed specifically around Tractor Supply’s current store prototype. The modern construction supports a retail format focused on livestock feed, fencing, farm and ranch supplies, pet products, propane, and outdoor equipment. The property is associated with a long-term operational use by Tractor Supply Company.
The asset is located at 1200 E Royall Blvd in Malakoff, Texas. Its tenant serves rural lifestyle and agricultural needs through a product mix centered on recurring-use supplies and equipment. Tractor Supply Company operates more than 2,500 stores nationwide and carries investment-grade ratings from Moody’s and S&P Global, with both agencies reporting stable outlooks.
The asset is located at 1200 E Royall Blvd in Malakoff, Texas. Its tenant serves rural lifestyle and agricultural needs through a product mix centered on recurring-use supplies and equipment. Tractor Supply Company operates more than 2,500 stores nationwide and carries investment-grade ratings from Moody’s and S&P Global, with both agencies reporting stable outlooks.
Key Highlights
- Tractor Supply NNN property at 1200 E Royall Blvd, Malakoff, TX 75148
- Completed in 2024
- Purpose‑built around Tractor Supply’s latest store prototype
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$328,675
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
4.67%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$6,573,500
$6.6M
Cap Rate 7%
$4,695,357
$4.7M
Cap Rate 9%
$3,651,944
$3.7M
Market Conditions
NOI Build-Up for 23,957 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$480.1K $20.04/SF
− Vacancy
−$10.6K −$0.44/SF
EGI
$469.5K $19.60/SF
− OpEx
−$140.9K −$5.88/SF
NOI
$328.7K $13.72/SF
Area
Henderson County, TX
Vacancy
2.20%
Lease Rate
$20.04 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$6,573,500
Cap Rate 7%
$4,695,357
Cap Rate 9%
$3,651,944
Alternative Uses
Best Use
Retail
$4.70M
$4.11M – $5.48M
NOI $328,675 @ 7.0% cap · market cap 4.67%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$8.43M
$7.37M – $9.83M
NOI $589,917 @ 7.0% cap · market cap 8.38%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
Single-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
38
Businesses Nearby
2k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 100%
O'Reilly Auto Parts
Shops & Services
1,637 visits/mo
0.5 miles
Demographics for 75148, TX
5,796
Population
3,625
Households
1.6
Avg Household Size
46
Median Age
22%
College-Educated
85%
High-School Grad
88.8 sq mi
ZIP Area
65
Density / Sq Mi
$59,923
Median Household Income
$33,318
Median Earnings
$838
Median Rent
$159,100
Median Home Value
Market
Vacancy Rate% for Retail in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
NNN property - Purpose-built modern construction completed in 2024 for rural lifestyle retail operations.
Where is this nnn property located?
The property is located at 1200 E Royall Blvd Malakoff, TX.
What is the asking price?
The asking price for this property is $7,043,478.
What are key features of this property?
This property features: Tractor Supply NNN property at 1200 E Royall Blvd, Malakoff, TX 75148; Completed in 2024; Purpose‑built around Tractor Supply’s latest store prototype
