| Metric | Details |
|---|---|
| Entity / Legal Name | Kum & Go, L.C. (acquired by Maverik; closed August 29, 2023) |
| Current Parent | Maverik, a subsidiary of family-owned FJ Management |
| Credit Ratings | no verified rating |
| Investment Grade Status | Not Yet Verified |
| Sector | Convenience Store & Fuel Retail |
| US Store Count | Nearly 400 Kum & Go locations in 12 states; more than 840 combined Maverik and Kum & Go stores in 20 states (company release, August 26, 2024) |
| Median asking cap rate | Too few current listings to report a median |
| Typical Lease Term | Varies; confirm in the lease |
| Guarantee Type | Varies; confirm the tenant entity and any guaranty in each lease |
| Typical Building Size | Varies by site; confirm in the listing |
Kum & Go: no confirmed agency rating. No rating for Kum & Go has been verified against a primary source (an agency rating action or an issuer filing), so none is shown. If a rating is verified, it will appear here. Ratings checked October 8, 2026. See the investment grade credit tenant ratings table.
Kum & Go Business Overview & NNN Investment Profile
Kum & Go was a Des Moines, Iowa-based, family-owned convenience store chain that the Krause family built over 64 years; it had over 400 locations across 13 states when Maverik agreed to acquire it from Krause Group. On August 29, 2023, Maverik, a subsidiary of family-owned FJ Management, completed its acquisition of Kum & Go and Solar Transport from Krause Group. Maverik said in April 2024 that it would rebrand Kum & Go stores in markets the two chains shared (Utah, Colorado and Wyoming) while other states were under evaluation, and in August 2024 it reported completing its Colorado rebrands; confirm the current brand and tenant at each site.
Kum & Go / Maverik Integration: What NNN Investors Need to Know
The 2023 Maverik acquisition of Kum & Go creates an important underwriting consideration for NNN investors: which entity is the current lease guarantor on any specific property? The tenant or guarantor on a given lease may be Kum & Go, L.C., a Maverik entity or another party, depending on when and by whom the lease was signed. Our ratings database records no agency rating for FJ Management; confirm the tenant and any guarantor named in each lease.
Before the acquisition, Maverik had more than 400 locations across 12 western states, including Utah, Idaho, Wyoming and Colorado. At closing the combined network had over 800 stores in 20 states, and Maverik reported more than 840 stores in 20 states in August 2024; without a verified agency rating in our ratings database, judge lease support from the named guarantor’s own financial information.
Kum & Go NNN Lease Structure
Lease terms, rent increases, expense responsibilities and building sizes on Kum & Go and Maverik properties vary; confirm them in each lease and listing.
Kum & Go NNN Cap Rate & Pricing Trends
Live asking cap rates for Kum & Go and comparable tenants, shown for each tenant with at least three current listings:
| Tenant | S&P / Moody’s | Median asking cap rate | Middle half of listings | Listings | Median vs. 10-year Treasury |
|---|---|---|---|---|---|
| 7-Eleven | A- / Baa2 | 5.15% | 5.00% to 5.50% | 169 | −9 bps |
| Circle K (rated entity: Alimentation Couche-Tard Inc.) | BBB+ / Baa1 | 5.22% | 5.00% to 5.75% | 36 | −2 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 16, 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: Kum & Go, Casey's General Stores.
Compare a Kum & Go property with rated convenience operators such as 7-Eleven, Inc. (A-/Baa2) and Circle K, whose parent Alimentation Couche-Tard Inc. is rated BBB+/Baa1; those ratings apply to a lease only if the rated entity signs or guarantees it. Pricing for a specific site depends on its location, remaining lease term and guarantor.
Comparable NNN Tenants
| Comparable Tenant | Rating |
|---|---|
| 7-Eleven | A-/Baa2 |
| Circle K (rating shown is for parent Alimentation Couche-Tard Inc.) | BBB+/Baa1 |
| Casey’s | no verified rating |
Did Maverik buy Kum & Go?
Yes. Maverik completed its acquisition of Kum & Go from Krause Group on August 29, 2023, creating a network of over 800 stores in 20 states at closing. Maverik began rebranding Kum & Go stores in 2024 in markets the two chains shared (Utah, Colorado and Wyoming); confirm the current brand at each site.
Is Kum & Go investment grade?
Kum & Go and its parent Maverik are privately held, and our ratings database records no S&P or Moody’s rating for either. Without a verified agency rating, it is not described as investment grade here.
What are asking cap rates for Kum & Go NNN properties?
The live table on this page shows median asking cap rates for Kum & Go and comparable tenants that have at least three current listings; tenants with fewer are named below the table. Pricing for a specific property depends on the remaining lease term, rent level, location and lease guarantor, and asking cap rates are not closed-sale cap rates.
Kum & Go / Maverik Net Lease Property: Buying, Selling and Financing
Buying: We find on-market and off-market Kum & Go / Maverik 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.
Kum & Go NNN Properties Observed For Sale
1 active Kum & Go net lease listing observed across public listing sources, most recently Oct 16, 2026. Asking figures as published by the listing party.
| Location | Asking Price | Cap Rate | Building SF | Term Left | |
|---|---|---|---|---|---|
| Bono, AR | $1,398,000 | 7.05% | 4,416 | 1.1 yrs | View listing |
Search all 1 observed Kum & Go 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.
