Kroger NNN Properties For Sale: Listings, Cap Rates and 1031 Buyer Guide

This page tracks Kroger net lease properties observed for sale in the United States, refreshed automatically from listing broker materials, checks the tenant against the investment grade threshold, and walks through how to evaluate one before you make an offer. If you want the corporate credit story, the Kroger credit rating and cap rate profile covers it. This page is about the inventory: what is on the market, what it is asking, how the pricing breaks down by term, state and lease type, and how a buyer, especially a 1031 exchange buyer, should work through it.

Kroger NNN Properties For Sale: Latest Listings

Up to twelve of the most recently listed single-tenant Kroger properties with published pricing. Open any listing and register for full property data, including the address, location map and an IG summary with due diligence questions.

Showing the 10 most recently listed of 12 observed listings; listings without a published asking price and cap rate are not shown here.

Search all 12 Kroger properties on the market

Market observations aggregated from listing broker materials; not offerings by Investment Grade Income Property, LP. Asking price, cap rate and NOI as published by the listing party. Information deemed reliable but not guaranteed. Verify all figures before relying on them.

What You Are Actually Buying

Kroger stores are company-operated. The lease signatory, however, is often a banner subsidiary such as Fred Meyer, Harris Teeter, Ralphs, King Soopers, Fry’s or Smith’s rather than The Kroger Co. itself, and not every subsidiary lease carries a parent guaranty. That is the first thing to confirm, because a subsidiary lease without a guaranty is a different credit from a corporate lease even though the sign on the building is the same. There is no operator risk in the franchise sense, but grocery leases give the tenant unusual flexibility, and Kroger has shown it will close underperforming stores across banners.

The typical store is roughly 60,000 to 90,000 square feet on five to ten acres, usually the anchor of a neighborhood center or a freestanding box, often with a fuel center on an outparcel. Marketplace formats run larger. Primary terms are long, commonly twenty years on newer deals, followed by a string of five-year options that can extend control for decades. Rent is frequently flat through the primary term with increases only in options, and percentage rent clauses appear in older leases. Many Kroger leases are NN rather than absolute NNN, with roof and structure staying with the landlord, and go-dark rights are common.

Across the current inventory, roughly 50% of listings with a reported build year were delivered in the last four years, and about 0% are marketed as NN, NN+ or simply Net, which usually means the landlord retains roof and structure and sometimes parking and HVAC. Read the lease rather than the brochure headline. If the rating framework behind investment grade tenancy is unfamiliar, the investment grade guide explains it.

Kroger Cap Rate, Price and Term Distribution

These tables are generated from the live inventory and refresh every few hours. Use them to place any individual listing in context rather than judging an asking cap rate in isolation.

How to read the pricing

The spread inside the Kroger inventory runs from 4.50% to 6.75%, against a median of 5.63%. Three variables help explain much of that spread, although these tables describe asking prices and do not isolate any single effect. First, remaining term, shown in the term table above. Second, geography, shown in the state table below. Third, lease structure and real estate quality: longer terms, stronger guarantors, absolute NNN structures and strong access generally ask lower cap rates, while leases with landlord responsibilities (NN) and secondary access generally ask higher ones; ground leases can price on either side, depending on rent and land value. When a listing sits far outside the band its term and state would predict, there is usually a reason in the lease, and it is worth finding before you write the offer rather than after.

Where Kroger NNN Properties Are For Sale

Current inventory spans 10 states. Differences between states in the table below can reflect local buyer demand, growth, taxes and the mix of lease terms in each state’s listings as much as anything about the tenant, and small state samples can shift quickly.

Kroger as a 1031 Exchange Replacement Property

The median asking price in the current Kroger inventory is $3.35M, and about 50% of listings fall in the middle of the market between 1.5 and 3.5 million dollars. Whether that fits an exchange depends on the equity coming out of the relinquished property and on the debt you need to replace.

• Identify from the live list, not a stale one. Listings move. Identify two or three specific properties under the three-property rule and keep a backup that is realistically still available.
• Debt replacement is the trap. If the relinquished property carried a mortgage, you must replace that debt or add cash to fully defer gain. Where lender pricing sits above the asking cap rate, financed acquisitions run negative leverage. Run your own debt numbers before you identify.
• Term should match your hold. If you plan to hold through the next exchange or pass the asset to heirs, prioritize term and options over 25 basis points of cap rate.
• Certainty of closing matters more than price. A clean estoppel, a current lease and no pending relocation are worth paying for on a 45-day clock.

For identification mechanics, timelines and the NNN, DST and UPREIT alternatives, see the 1031 exchange into investment grade property guide.

Kroger NNN Due Diligence Checklist

These are the items that change the value of a Kroger listing and are rarely resolved by the offering memorandum.

• Signatory and parent guaranty. Identify which Kroger entity signed the lease and whether The Kroger Co. guarantees it. Banner subsidiary leases without a guaranty are common and should not be priced as parent credit.
• Go-dark and continuous operation. Most grocery leases let the tenant stop operating while paying rent, and Kroger has announced store closures across banners. A dark 80,000-square-foot box has very limited re-tenanting options in most markets.
• Roof, structure and parking lot. Confirm whether the lease is absolute NNN or NN. Older Kroger leases often leave roof, structure and sometimes parking lot replacement with the landlord, a large capital item on a box this size.
• Flat rent and option chain. Check whether any increase occurs in the primary term and how many options remain. Flat rent plus multiple below-market options can hold the property at one rent level for thirty years or more.

How Investment Grade Works With Kroger Buyers

Investment Grade Income Property, LP is a licensed commercial real estate brokerage providing national advisory on acquisitions and dispositions of net lease property, with Broker of Record co-listing partnerships in all 50 states. On a Kroger acquisition we screen the live inventory against your criteria, pull the lease abstract behind any listing you want to pursue, benchmark the asking cap rate against the distribution above, and negotiate on your side of the table through closing. On most transactions there is no separate fee to the buyer because compensation is paid from the transaction by the listing side. Where that is not the case we disclose it in writing before you engage.

Owners of existing Kroger properties can use this page as a valuation benchmark. If you are weighing a sale, an off-market disposition to a qualified 1031 buyer often closes faster and with less retrading than a broad marketing process.

Frequently Asked Questions

• Kroger Credit Rating and NNN Cap Rate Profile
• NNN Cap Rates 2026: Tenant by Tenant Benchmarks
• 1031 Exchange Into Investment Grade Property
• Investment Grade Credit Tenant Ratings
• Search All Observed NNN Listings