For Sale
6 Stores
For sale
NNN Gas Stations for sale.
Passive net-lease convenience and fuel assets with credit tenants, long terms, and cap rates that underwrite cleanly.
Active deals
Available now
Key takeaways
- National NNN fuel and C-store cap rates run near 5.6%, with corporate-credit tenants like Wawa pricing as tight as 4.83% to 5.20% and weaker markets stretching to 6.0% to 6.5% or higher.
- In a true triple-net lease the tenant pays taxes, insurance, and maintenance, so the owner holds a passive income stream with little day-to-day involvement.
- Underground storage tanks and CERCLA liability drive lender caution, which is why a Phase I ESA at 1800 to 3500 dollars is standard before closing.
- Absolute NNN deals with 15 to 20 year terms are ideal 1031 replacement property, fitting the 45-day identification and 180-day closing windows.
- Tenant credit, lease term remaining, and rent bumps move cap rates more than location alone on net-lease fuel assets.
A triple-net C-store puts the building, the brand, and the operating risk on the tenant while you collect rent. The tenant covers taxes, insurance, and maintenance, which is why national NNN convenience and fuel cap rates sit near 5.6%, roughly 5.58% with fuel and 6.87% without. These are the assets 1031 buyers and passive investors want because the income is contractual and the management is close to zero. The trade-off is environmental exposure from underground storage tanks and a price premium for the cleanest credit. C-Store Trader runs net-lease inventory across the country, from branded stores to truck stops, and prices every deal against current market data before it goes out.
What a NNN C-Store Is
A NNN, or triple-net, C-store is a convenience and fuel property leased to an operator who pays taxes, insurance, and maintenance on top of base rent. You own the real estate and collect a contractual income stream. The tenant runs the store, manages the pumps, and carries the operating risk. In an absolute NNN structure the landlord has zero responsibility for the building, which is what makes these assets passive.
The lease is the product. Term length, rent escalations, and the strength of the guarantor determine value far more than the fuel volume through the canopy. Compare this to a managed or absentee-run store, where you still own the business and its margins. With NNN you are buying paper backed by dirt. Our triple-net lease guide breaks down each clause.
Why Investors Want Net-Lease Fuel
Net-lease fuel assets attract buyers who want yield without operations. The income is predictable, the management load is minimal, and the tenant pool includes some of the strongest credit in retail. A corporate-guaranteed lease from a national operator behaves more like a bond than a business.
These properties are also the cleanest fit for a 1031 exchange. With 45 days to identify and 180 days to close, a buyer rolling out of an apartment building or a strip center needs a known quantity, and an absolute NNN C-store with 15 to 20 years of term remaining delivers it. The 2025 fuel margin picture matters less here because the operator absorbs it. What you underwrite is the rent, the bumps, and the guarantor. For buyers weighing the model, our NNN investing guide covers the full case.
Cap Rates and How NNN Deals Price
National NNN convenience and fuel cap rates sit near 5.6%, roughly 5.58% with fuel and 6.87% without. Tenant credit drives the spread. Wawa-leased stores price between 4.83% and 5.20%, 7-Eleven between 5.00% and 5.40%, Murphy USA near 5.13%, and Circle K between 5.35% and 5.65%. Geography layers on top. Florida is tightest near 5.11%, Texas runs about 5.63%, the Carolinas sit at 5.0% to 5.5%, and weaker markets reach 6.0% to 6.5% or higher.
For owner-operated fuel businesses with real estate, pricing runs closer to 8x EBITDA, with 7x to 9x in premium markets. Run your own numbers with our cap rate calculator and valuation calculator. For trend context, see cap rates by state.
How to Buy or Sell a NNN C-Store
Buying starts with the lease and the tenant credit, then moves to environmental. Because underground storage tanks carry CERCLA liability, a Phase I ESA at 1800 to 3500 dollars under ASTM E1527-21 is standard and is required on SBA fuel deals. SBA 7(a) caps at 5M dollars with a 15% minimum equity injection on special-purpose stations and terms up to 25 years on real estate, while conventional lenders often want 30% to 40% down and many avoid tank exposure. Our SBA 7(a) guide and financing page map the options.
Selling a leased asset is about presenting clean rent, term, and credit, then pricing to the right cap. Owners exiting an operating business often convert to a sale-leaseback to capture real estate value while staying in place. Start a buy or sell engagement with our team.
FAQ
Common questions
NNN, or triple-net, means the tenant pays the three nets, property taxes, insurance, and maintenance, on top of base rent. The owner holds the real estate and collects a passive income stream while the operator runs the store and carries the operating risk. In an absolute NNN structure the landlord has no building responsibilities at all.
Plan on national NNN convenience and fuel cap rates near 5.6%, roughly 5.58% with fuel. Strong corporate tenants compress that range, with Wawa at 4.83% to 5.20% and 7-Eleven at 5.00% to 5.40%, while weaker markets stretch to 6.0% to 6.5% or higher. Tenant credit, term remaining, and rent bumps move the rate more than location alone.
Yes. Absolute NNN C-stores with 15 to 20 year terms are ideal 1031 replacement property because the income is contractual and management is minimal. The exchange clock gives you 45 calendar days to identify and 180 days to close from your sale closing, so a known net-lease asset fits the timeline. Use our 1031 deadline calculator to map your dates.
Underground storage tanks carry CERCLA liability that can attach to the owner, which is why a Phase I ESA at 1800 to 3500 dollars under ASTM E1527-21 is standard and required on SBA fuel deals. A net lease shifts operating responsibility to the tenant, but buyers and lenders still underwrite tank condition and environmental history before closing.
Put us to work
Want this asset type in your inbox?
Join deal alerts and we will send matching opportunities, including off-market deals.
C-store operator lens
NNN Gas Stations for sale through the C-store operations lens.
This page is evaluated through the convenience-store business first: inside sales, category margins, inventory turns, staffing, customer repeat behavior, lease control, and how the store creates profit beyond the fuel canopy. For listing pages, do not stop at price, EBITDA, and MPDs. The buyer should ask how much of the profit is coming from the store, what categories are growing, and what management systems transfer.
Convenience pricing, promotional discipline, and local basket size can matter as much as fuel price when the store is the real profit center.
The handoff needs clean manager coverage, supplier account transfer, licenses, lottery setup, inventory count, and employee retention planning.
Prepared food, coffee, fountain, grab-and-go, and quick-serve opportunities can create a second growth story if equipment, staffing, and local demand support it.
Inventory turns, cash handling, lottery controls, tobacco counts, and employee shrink policies can change EBITDA more than a headline traffic count.
For C-store deals, the highest-value diligence usually lives in the POS reports, category sales, shrink controls, vendor terms, beer and tobacco mix, prepared-food potential, lottery contribution, and local customer pattern. This listing page is intentionally written for owners, operators, and buyers who care about the in-store profit engine, so it should be evaluated on the specific commercial questions it answers, not only on broad national search terms.
Decision checklist
What makes NNN Gas Stations for sale a real diligence page.
This listing page is strongest when it helps a visitor decide what to do with a real convenience-store asset. The checklist below keeps the page tied to C-store economics: POS reports, category margin, inventory control, licenses, staffing, lease control, and local customer behavior.
Ask for evidence. A C-store with real estate, options, rent control, and expansion room underwrites differently from a business-only deal on a short lease. For NNN Gas Stations for sale, do not treat this as generic background; make it part of the buyer, seller, lender, or investor checklist.
Ask for evidence. Store-level labor should be tested by daypart, not averaged. Overnight staffing, manager coverage, weekend peaks, and absentee ownership all change true cash flow. For NNN Gas Stations for sale, do not treat this as generic background; make it part of the buyer, seller, lender, or investor checklist.
Ask for evidence. A strong C-store has repeat local behavior. Loyalty, nearby housing, schools, employers, and commuter routes should be mapped against sales by category. For NNN Gas Stations for sale, do not treat this as generic background; make it part of the buyer, seller, lender, or investor checklist.
Ask for evidence. Buyers should review beverage, tobacco, grocery, ATM, lottery, and distributor terms because vendor economics can create hidden value or hidden dependency. For NNN Gas Stations for sale, do not treat this as generic background; make it part of the buyer, seller, lender, or investor checklist.
Ask for evidence. The store can be a larger profit driver than fuel. A buyer should separate high-margin convenience categories from pass-through or low-margin volume before applying a multiple. For NNN Gas Stations for sale, do not treat this as generic background; make it part of the buyer, seller, lender, or investor checklist.
For C-Store Trader, the indexed value of the page should come from how well it answers the store-operator question: what would a serious owner, buyer, or broker verify before committing capital?
Transaction memo layer
How to underwrite NNN Gas Stations for sale before raising a hand.
Real-estate-backed C-store pages should tie lease or fee-simple control to store cash flow, rent coverage, renewal options, expansion room, licenses, and buyer exit liquidity.
Store-level labor should be tested by daypart, not averaged. Overnight staffing, manager coverage, weekend peaks, and absentee ownership all change true cash flow. For NNN Gas Stations for sale, this should be requested before a buyer treats the opportunity as financeable.
A C-store with real estate, options, rent control, and expansion room underwrites differently from a business-only deal on a short lease. For NNN Gas Stations for sale, this should be requested before a buyer treats the opportunity as financeable.
Buyers should review beverage, tobacco, grocery, ATM, lottery, and distributor terms because vendor economics can create hidden value or hidden dependency. For NNN Gas Stations for sale, this should be requested before a buyer treats the opportunity as financeable.
A strong C-store has repeat local behavior. Loyalty, nearby housing, schools, employers, and commuter routes should be mapped against sales by category. For NNN Gas Stations for sale, this should be requested before a buyer treats the opportunity as financeable.
Ask for POS category reports by month, not only annual revenue. Tobacco, beer, packaged drinks, lottery, grocery, prepared food, and ATM income each carry different margins and buyer value. For NNN Gas Stations for sale, this should be requested before a buyer treats the opportunity as financeable.
The store can be a larger profit driver than fuel. A buyer should separate high-margin convenience categories from pass-through or low-margin volume before applying a multiple. For NNN Gas Stations for sale, this should be requested before a buyer treats the opportunity as financeable.
Lead qualification
What a serious NNN Gas Stations for sale inquiry should include.
C-Store Trader should turn NNN Gas Stations for sale traffic into C-store leads with enough detail to underwrite the store, not just a name and phone number. A useful inquiry explains the asset, the operating proof, and the decision timeline.
Share whether this is a single store, portfolio, brand page, market search, guide question, or tool output. Include real estate versus leasehold, store size, inside sales, fuel relationship, licenses, and whether inventory is included.
The strongest C-store lead can provide POS category reports, gross margin, payroll, rent, bank deposits, vendor terms, inventory practices, and notes on manager coverage or owner involvement.
Clarify whether the goal is to buy, sell, value, refinance, or prepare for a 1031 or sale-leaseback. Include price range, financing capacity, timing, geography, and whether confidentiality is required.
For this listing page, a high-quality lead is one where the store economics, transferability, and next action are clear enough for a broker or principal to respond intelligently.
Institutional guidance
Before you act on NNN C-Stores for Sale, talk with a sector broker.
C-Store Trader is built to turn opportunity interest into a real next step: valuation, buyer match, lending path, diligence package, or confidential sale strategy. Eagle Nest Property Group works across owners, operators, 1031 buyers, and private capital in convenience retail.
Confidential valuation
Qualified buyer routing
Deal and diligence support
Confidential deal intake
C-store buyers and sellers start here.
Tell us what you own, what you want to buy, or how much capital you need. A specialist at Eagle Nest Property Group will route the opportunity, protect confidentiality, and respond with the right next step.
$250M+Transacted
50/USNationwide reach
FastBroker follow-up