Tractor Supply Investment
For Sale
Contact for pricing
1900 NE 2nd St, Redmond, OR 97756
NN leased Tractor Supply Co. in Redmond, Oregon for sale.
Property Size21,930 SF
Price / SF$463.20
Days on Market193
Property Features for 1900 NE 2nd St
General Information
Standard status
Active
Size
21,930 SF
Total Parking Spaces
80
Property subtype
Retail
Occupancy
100%
Lease Type
NN
Investment Type
Net Lease
Net Operating Income
$599,312
Building Details
Year Built
2026
Buildings
1
Stories
1
Units
1
Tenancy
Single
Listing Agency:
SRS Real Estate Partners Newport Beach
Listed By:
Calvin Short · License #01927216
Source:
Crexi
Added: Jan 29
Changed: Aug 7
Last Checked: Aug 9 at 8:25AM
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 SRS Real Estate Partners Newport Beach
Investment Insights
Based on property information with market context.
This is an opportunity to acquire a fee simple interest in a NN leased Tractor Supply Co. investment property located in Redmond, Oregon. The corporate entity recently signed a new 15-year lease with options to extend. The lease includes 5% scheduled rental increases throughout the initial term and at the beginning of each option period. The landlord responsibilities are limited to the roof, structure, foundation, parking lot (excluding snow/ice removal), drainage facilities and exterior utility lines, making this an ideal low management investment. Tractor Supply operates over 2,400 locations nationwide and continues to demonstrate strong financial performance with an average unit volume of approximately $6.5MM. The property benefits from positioning directly across from a Walmart-anchored Supercenter, complemented by major retailers such as Petco, Marshalls, Famous Footwear, and The Home Depot. The surrounding area also features national and credit tenants including Starbucks, Panda Express, Surf Thru Car Wash, Dutch Bros, and others. The 5-mile trade area is supported by more than 45,885 residents and 16,390 employees. The average household income of $110,171 reflects the economic strength of the region.
Key Highlights
- Brand new 15‑year lease with options to extend, providing long‑term stable income.
- NN lease structure limits landlord responsibilities, making it a low‑management investment.
- Corporate guaranty from Tractor Supply Co. (Nasdaq: TSCO), a financially strong national retailer.
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
$528,320
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
5.20%
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%
$10,566,400
$10.6M
Cap Rate 7%
$7,547,429
$7.5M
Cap Rate 9%
$5,870,222
$5.9M
Market Conditions
NOI Build-Up for 21,930 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
$789.5K $36.00/SF
− Vacancy
−$34.7K −$1.58/SF
EGI
$754.7K $34.42/SF
− OpEx
−$226.4K −$10.32/SF
NOI
$528.3K $24.09/SF
Area
Deschutes County, OR
Vacancy
4.40%
Lease Rate
$36.00 /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%
$10,566,400
Cap Rate 7%
$7,547,429
Cap Rate 9%
$5,870,222
Alternative Uses
Best Use
Retail
$7.55M
$6.60M – $8.81M
NOI $528,320 @ 7.0% cap · market cap 5.20%
Second Best
—
—
no second resolved use
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
684
Businesses Nearby
Explore this area
Business Placement
Demographics for 97756, OR
42,168
Population
18,335
Households
2.3
Avg Household Size
40
Median Age
32%
College-Educated
92%
High-School Grad
126.3 sq mi
ZIP Area
334
Density / Sq Mi
$84,067
Median Household Income
$41,909
Median Earnings
$1,473
Median Rent
$469,000
Median Home Value
Market
Vacancy Rate% for Retail in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Retail space - NN leased Tractor Supply Co. in Redmond, Oregon for sale.
Where is this retail space located?
The property is located at 1900 NE 2nd St Redmond, OR.
What is the asking price?
The asking price for this property is $10,158,000.
What are key features of this property?
This property features: Brand new 15‑year lease with options to extend, providing long‑term stable income.; NN lease structure limits landlord responsibilities, making it a low‑management investment.; Corporate guaranty from Tractor Supply Co. (Nasdaq: TSCO), a financially strong national retailer.
