| Metric | Details |
|---|---|
| Entity / Legal Name | Love’s Travel Stops & Country Stores, Inc. |
| Ownership | Love family (privately held since 1964) |
| Credit Ratings | Not rated |
| Investment Grade Status | Not Rated |
| Sector | Truck Stop / Highway Convenience & Fuel |
| US Location Count | 681 locations in 42 states (company release, September 21, 2026) |
| Median asking cap rate | Too few current Love's listings for a median; see peer tenants in the live table below |
| Typical Lease Term | Varies; confirm term, escalations and expense terms in the lease |
| Guarantee Type | Varies; confirm the tenant entity and any guarantee in the lease |
| Typical Building Size | Varies by site (for example, 13,600 SF at the Kingman, Arizona travel stop opened September 2026) |
| Annual Revenue | Not publicly reported (private company) |
Love's Travel Stops is not rated. Our ratings database records no public rating for Love's Travel Stops from S&P Global Ratings, Moody’s or Fitch. Without an agency rating, lease credit is assessed from financial statements and any guarantee in the lease. Ratings checked September 27, 2026. See the investment grade credit tenant ratings table.
Love’s Travel Stops Business Overview & NNN Investment Profile
Love’s Travel Stops & Country Stores is a family-owned, privately held company headquartered in Oklahoma City, with 681 locations in 42 states as of September 21, 2026 (company release). Founded in 1964 by Tom Love and his wife Judy in Watonga, Oklahoma, the company has remained family-owned and privately operated for over 60 years. Its business combines fuel, convenience retail, restaurant brands that vary by location (Subway and Buffalo Wild Wings GO at its September 2026 Kingman, Arizona opening), truck care services and truck parking; Love’s said it would add 1,500 truck parking spaces in 2026.
Love’s Travel Stops Credit Profile: Qualitative Strengths
Love’s has remained family-owned since 1964 and continues to expand: for 2026 it planned 20 new locations, updates to 35 existing locations and $700 million of investment in new and remodeled sites (company release, February 5, 2026). Because the company is private, its profitability and leverage cannot be checked against public filings.
Love’s serves professional truck drivers as well as motorists and RVers, and it offers truck care services and truck parking (it planned more than 52,000 truck parking spaces by the end of 2026). Love’s does not publish its revenue mix or margins, so the share of sales from trucking customers cannot be confirmed. Competition varies by interchange, so check nearby fuel and truck stop options for each property.
Love’s NNN Lease Structure
Love’s lease terms, rent escalations and expense responsibilities vary by property; confirm them in each lease. The larger-format travel stop campus (including fuel canopy, main building, truck lanes, and often attached restaurant spaces) is a large, specialized site investment; who funded the improvements varies, so confirm it in the lease and closing documents. Standard highway interchange locations are purpose-built for the travel stop format, which can limit practical alternative uses.
Love’s NNN Cap Rate & Pricing Trends
Live asking cap rates for Love’s Travel Stops and comparable tenants:
| Tenant | S&P / Moody’s | Median asking cap rate | Middle half of listings | Listings | Median vs. 10-year Treasury |
|---|---|---|---|---|---|
| Murphy USA | BB+ / n/a | 5.00% | 4.85% to 5.00% | 9 | −24 bps |
| 7-Eleven | A- / Baa2 | 5.15% | 4.93% to 5.50% | 147 | −9 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 12, 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: Love's Travel Stops.
Pricing varies with remaining lease term, rent level and location; compare a specific Love’s property with the rated fuel operators in the live table.
Comparable NNN Tenants
| Comparable Tenant | Rating |
|---|---|
| 7-Eleven | A-/Baa2 |
| Murphy USA | BB+ |
| Wawa | no verified rating |
Is Love’s Travel Stops investment grade?
Not on an agency basis. Our ratings database records no published S&P, Moody’s or Fitch rating for Love’s. It is family-owned, has operated since 1964 and had 681 locations in 42 states as of September 21, 2026 (company release), but those qualitative factors are not a rating.
Who owns Love’s Travel Stops?
Love’s Travel Stops has been privately owned by the Love family since Tom and Judy Love founded the company in 1964 in Watonga, Oklahoma. The company describes itself as family-owned and operated (company release, September 21, 2026).
What are asking cap rates for Love’s Travel Stop NNN properties?
Current median asking cap rates for Love’s Travel Stops and comparable tenants are shown in the live table on this page. 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.
When the buyer owns the building, a cost segregation study may reclassify part of the purchase price, such as site improvements and some building systems and equipment, into 5-, 7- or 15-year property. Under IRC 168(k), that property can qualify for 100% bonus depreciation if it is acquired after January 19, 2025 (property bought under a written binding contract is treated as acquired no later than the date the contract was signed) and placed in service by the buyer; used property qualifies only if the buyer did not use it before and the purchase meets the acquisition rules of IRC 168(k)(2)(E)(i), such as not buying from a related party. How much qualifies varies widely by property, and the allocation should be supported by a detailed cost segregation study. When the investor owns only the land under a ground lease and the tenant owns the improvements, there is no building for the investor to depreciate, land cannot be depreciated, and equipment owned by the tenant is not the landlord’s to depreciate. On a taxable sale, depreciation is generally recaptured: as ordinary income for 5- and 7-year property under IRC 1245, and under IRC 1250 for real property. A 1031 exchange can defer gain, but recapture can still apply in an exchange (IRC 1245(b)(4) and 1250(d)(4)). Some gas station and convenience store buildings can qualify as 15-year property, and therefore for bonus depreciation, as retail motor fuels outlets under IRC 168(e)(3)(E)(iii) if they meet any one of three IRS tests (IRS Publication 946): a building of 1,400 square feet or less, at least half of gross revenue from fuel sales, or at least half of floor space devoted to fuel sales; confirming the revenue test requires the operator’s sales data. Fuel tanks, dispensers and canopies may be owned by the operator or a fuel supplier rather than the landlord; confirm in the lease. This is general information, not tax advice; consult a tax professional. See the Gas Station and C-Store NNN Depreciation Guide.
Love’s Travel Stops Net Lease Property: Buying, Selling and Financing
Buying: We find on-market and off-market Love’s Travel Stops 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.
