Looking to buy a Kroger NNN property? 9 are observed for sale across 8 states, median asking cap rate 5.00%. View Kroger NNN properties for sale, cap rate bands and the 1031 buyer guide.
| Metric | Details |
|---|---|
| Company | The Kroger Co. (NYSE: KR), Cincinnati, Ohio |
| S&P / Moody’s | BBB / Baa1 |
| Investment grade status | Investment Grade |
| Supermarkets | 2,697 in 35 states and D.C., 2,250 with pharmacies and 1,731 with fuel centers (January 31, 2026) |
| Owned vs. leased | About 51% of supermarkets operate in company-owned facilities, including some company-owned buildings on leased land |
| Banners | Kroger, Ralphs, Fred Meyer, King Soopers, Harris Teeter, Smith’s, Fry’s and others |
| Median asking cap rate | See the live table below |
Kroger Business Overview
Kroger operated, directly or through subsidiaries, 2,697 supermarkets in 35 states and the District of Columbia under a variety of local banners as of January 31, 2026. Most of its stores have pharmacies, and many have fuel centers.
Kroger’s proposed merger with Albertsons was terminated in December 2024. The termination did not end all related exposure: Albertsons sued Kroger in the Delaware Court of Chancery on December 10, 2024, seeking a $600 million termination fee and other damages; Kroger denies the claims and filed counterclaims, and Kroger’s latest 10‑Q says trial was scheduled to begin on October 19, 2026. Kroger also recorded significant charges in 2025, including an impairment related to its automated fulfillment network.
Kroger Credit Profile
S&P’s issuer credit rating on The Kroger Co. is BBB, and Moody’s rates its senior notes Baa1; our ratings database classifies Kroger as investment grade. Kroger operates its supermarkets directly or through subsidiaries, so the tenant on a Kroger lease may be a subsidiary rather than The Kroger Co.; confirm the tenant entity and whether The Kroger Co. guarantees the lease.
Kroger also discloses that it remains contingently liable on some leases it assigned to third parties in connection with facility closings and dispositions. For a landlord, that can mean a former Kroger store now operated by another grocer still has some Kroger liability behind it; check the assignment documents.
Ratings come from our tenant ratings database and update when agencies change them. A rating at or above BBB‑/Baa3 is investment grade; see the investment grade guide.
Source: S&P Global Ratings BBB, as of December 16, 2024; Moody’s Baa1, as of September 28, 2026. Ratings checked October 8, 2026.
Kroger NNN Cap Rates
Live asking cap rates for Kroger and comparable tenants:
| Tenant | S&P / Moody’s | Median asking cap rate | Middle half of listings | Listings | Median vs. 10-year Treasury |
|---|---|---|---|---|---|
| Kroger | BBB / Baa1 | 5.00% | 5.00% to 5.25% | 9 | −24 bps |
| Aldi / Trader Joe's | n/a / n/a | 5.25% | 4.55% to 5.50% | 17 | +1 bps |
| Albertsons | BB+ / n/a | 5.75% | 5.50% to 9.00% | 5 | +51 bps |
Active listings InvestmentGrade.com tracks with an asking cap rate (stated in the listing, or computed from its stated income and price when no rate is stated), listings last observed October 19, 2026. Asking cap rates are not closed-sale cap rates. The middle half is the range from the 25th to the 75th percentile of listings. The 10-year Treasury yield is 5.24% as of October 1, 2026 (FRED series DGS10). Ratings are the agency ratings in our ratings database for the entity shown, which may be a parent company; the rating type (for example issuer, senior unsecured debt, long-term debt or revenue bond ratings) varies by company and is shown on each tenant page. A rating applies to a lease only if the rated entity signs or guarantees it, so confirm the tenant and any guarantor in the lease. n/a means no verified rating is on file. Not shown because fewer than 3 active listings with a published cap rate were observed: Publix, Whole Foods Market, Meijer, Hy-Vee.
The Kroger median in the live table can rest on a small number of listings, and those listings can include fuel center pads as well as supermarkets, so compare a property with listings of the same format. Shopping center locations, ground leases and the store’s sales also affect pricing. Compare a property with recent Kroger sales and with grocery peers.
What to Check in a Kroger Lease
- Tenant and guarantor: which Kroger entity signs the lease (The Kroger Co. or a subsidiary) and whether The Kroger Co. guarantees it.
- Term and options: remaining term, renewal options and the rent schedule.
- Landlord costs: a grocery lease may not be absolute NNN; confirm who pays for roof, structure and parking.
- Co-tenancy and use: co-tenancy, exclusive-use and go-dark provisions in shopping center leases.
- Store performance: sales information where available, and nearby competition.
Pros and Cons
| Strengths | Considerations |
|---|---|
| Investment Grade (S&P and Moody’s); 2,697 supermarkets in 35 states and D.C. (January 31, 2026) | Pending litigation with Albertsons over the terminated merger |
| Necessity-based grocery traffic with pharmacies and fuel | Large boxes can have fewer replacement tenants |
| Kroger discloses that it remains contingently liable on some leases it assigned to third parties | The tenant may be a Kroger subsidiary; confirm any guarantee by The Kroger Co. |
Frequently Asked Questions
What is Kroger’s credit rating?
S&P’s issuer credit rating on The Kroger Co. is BBB, and Moody’s rates its senior notes Baa1. Our ratings database classifies Kroger as investment grade.
How did the terminated Albertsons merger affect Kroger?
The termination in December 2024 removed the proposed combination from Kroger’s plans, but it did not end all related exposure: Albertsons is suing Kroger for a $600 million termination fee and other damages, Kroger has counterclaimed, and Kroger reported that trial was scheduled to begin October 19, 2026.
How many stores does Kroger operate?
Kroger operated 2,697 supermarkets in 35 states and the District of Columbia as of January 31, 2026, 2,250 of them with pharmacies and 1,731 with fuel centers.
What are asking cap rates for Kroger properties?
The live table on this page shows the current median asking cap rate for Kroger and grocery peers. Asking cap rates are not closed-sale cap rates.
Sources: The Kroger Co. Form 10‑K for the year ended January 31, 2026 and Form 10‑Q for the quarter ended August 15, 2026.
Kroger Net Lease Property: Buying, Selling and Financing
Buying: We find on-market and off-market Kroger properties, review the lease and the tenant’s credit, and compare pricing with current listings. On the majority of transactions, there is no separate fee to you as the buyer; the listing broker pays a cooperating commission.
Selling: We can prepare an opinion of value from current listings and recent sales and, when it fits your goals, run a confidential sale to private investors, family offices and institutional buyers. See our guide to off-market sales.
Financing: Investment Grade Capital, a service of Investment Grade LLC, matches buyers and owners with lenders for acquisitions and refinancing.
1031 exchanges: Tell us your identification and closing deadlines so we can plan the search around them.
Request an NNN investment consultation or email team@investmentgrade.com.
Related NNN Tenants
Kroger NNN Properties Observed For Sale
10 active Kroger net lease listings observed across public listing sources, most recently Oct 19, 2026. Asking figures as published by the listing party.
| Location | Asking Price | Cap Rate | Building SF | Term Left | |
|---|---|---|---|---|---|
| Indianapolis, IN | $1 | n/a | 66,469 | n/a | View listing |
| South Charleston, WV | $7,000,000 | 5.00% | 122,910 | n/a | View listing |
| South Charleston, WV | $1,500,000 | 5.00% | 122,910 | n/a | View listing |
| CLACKAMAS, OR | $4,190,000 | 5.25% | 5,522 | 20.0 yrs | View listing |
| Spanaway, WA | $2,600,000 | 5.00% | 1,637 | n/a | View listing |
| Little Rock, AR | $2,000,000 | 5.00% | 4,130 | 18.5 yrs | View listing |
| Sturgeon Bay, WI | $4,625,550 | 6.00% | 41,850 | 9.4 yrs | View listing |
| Glendale, AZ | $3,222,222 | 4.50% | 60,113 | 15.0 yrs | View listing |
Search all 10 observed Kroger listings and the full NNN inventory
Market observations aggregated from listing broker materials; not offerings by Investment Grade Income Property, LP. Buyer representation available on a cooperating commission basis. Information deemed reliable but not guaranteed.
