Building Details

Year Built 2023

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: Mar 27 Changed: Sep 29 Last Checked: Oct 5 at 7:12PM

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Investment Insights

Based on property information with market context.

The property is a NNN leased Tractor Supply Co. investment property located in Rancho Murieta, California. The lease is corporately signed and has approximately 12 years of guaranteed term remaining, along with four 5-year option periods. Rental increases of 5% occur every 5 years (next in 2028) throughout the initial term and options. The lease structure is a modified NNN lease where the Landlord is responsible for roof and structure. A 20-year roof warranty is in place with about 17 years remaining on the term. Tractor Supply operates over 2,400 locations nationwide and maintains strong corporate performance with an average unit volume of approximately $ 6.5MM. The Tractor Supply is located along Murieta Drive, the primary commercial corridor serving the Rancho Murieta community, within Murieta Marketplace, the area’s dominant retail center. Murieta Marketplace is anchored by Bel Air Grocery and supported by tenants including Starbucks, Taco Bell, Burger King, Ace Hardware, and USPS. Rancho Murieta is a master-planned, gated community with controlled commercial development, creating a customer base for essential retail users. The site serves both Rancho Murieta North and South residential communities and is accessible from surrounding rural and agricultural areas. Average household incomes exceed $150,000 within a 1–3 mile radius.

Key Highlights

• NNN Lease with Tractor Supply Co. (Nasdaq: TSCO) with approximately 12 years of guaranteed term remaining.
• Rare, modified NNN lease structure where Landlord is only responsible for roof and structure, offering a passive investment.
• Located within Murieta Marketplace, the area’s dominant retail center anchored by Bel Air Grocery.

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$290,126

Cap Rate

4.15%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$5,802,520 $5.8M

Cap Rate 7%

$4,144,657 $4.1M

Cap Rate 9%

$3,223,622 $3.2M

Market Conditions

NOI Build-Up for 22,286 SF

Gross rent

$438.6K $19.68/SF

− Vacancy

−$24.1K −$1.08/SF

EGI

$414.5K $18.60/SF

− OpEx

−$124.3K −$5.58/SF

NOI

$290.1K $13.02/SF

Area

Sacramento County, CA

Vacancy

5.50%

Lease Rate

$19.68 /SF/Yr

Expense Ratio

30.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$5,802,520

Cap Rate 7%

$4,144,657

Cap Rate 9%

$3,223,622

Alternative Uses

Best Use

Retail

$4.14M

$3.63M – $4.84M (±1% cap)

NOI $290,126 @ 7.0% cap · market cap 4.15%

Second Best

—

—

no second resolved use

Theoretical Best

Office A

$5.94M

$5.19M – $6.93M (±1% cap)

NOI $415,596 @ 7.0% cap · market cap 5.94%

Zoning and permitted uses should be independently verified with authorities.

Property Analytics

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Current Use

Tractor Supply Co. Pet Store & Service Garden Center at Tractor ... Garden Center

Suggested Use

Top Pick Dental Office Building Supply Restaurant Hair Salon Spa & Massage Center Real Estate Agency

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Location Intelligence

Trade Area within ½ mile

160

Businesses Nearby

Explore this area Business Placement

Demographics for 95683, CA

6,550

Population

2,673

Households

2.5

Avg Household Size

53

Median Age

55%

College-Educated

97%

High-School Grad

86.4 sq mi

ZIP Area

76

Density / Sq Mi

$130,439

Median Household Income

$72,232

Median Earnings

$2,472

Median Rent

$666,200

Median Home Value

Market

Vacancy Rate% for Retail in West region

7% 2020

6.3% 2021

5.5% 2022

5.3% 2023

5.5% 2024

5.8% 2025

Questions? Ask Rey

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What type of property is this? Where is this retail space located? What is the asking price? Find similar properties What are key features of this property?

Frequently Asked Questions

What type of property is this?

Retail space - NNN leased Tractor Supply Co. investment property for sale.

Where is this retail space located?

The property is located at 7309 Murieta Dr Rancho Murieta, CA.

What is the asking price?

The asking price for this property is $6,991,000.

What are key features of this property?

This property features: NNN Lease with Tractor Supply Co. (Nasdaq: TSCO) with approximately 12 years of guaranteed term remaining.; Rare, modified NNN lease structure where Landlord is only responsible for roof and structure, offering a passive investment.; Located within Murieta Marketplace, the area’s dominant retail center anchored by Bel Air Grocery.