This page tracks Marathon 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 Marathon 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.
On a Marathon property, who signed the lease determines the credit. The ratings shown for Marathon are senior unsecured debt ratings of its parent company, Marathon Petroleum Corporation: BBB (Stable outlook) from S&P Global Ratings, Baa2 (Stable outlook) from Moody’s and BBB (Stable outlook) from Fitch Ratings; all investment grade (BBB-/Baa3 or higher). Whether that credit stands behind a specific lease depends on the tenant and any guarantor named in the lease. Ratings checked October 8, 2026. Marathon Petroleum supplies fuel to Marathon-branded outlets that are primarily maintained by independent operators, and a corporate credit rating does not extend to an operator’s lease unless a written corporate guaranty says so. Confirm the signature block. See the Marathon credit profile.
3 Marathon NNN properties observed for sale across 3 states as of October 2, 2026. Median asking cap rate 7.31% (range 6.09% to 7.50%). Median asking price $1.99M. Average remaining lease term 11.2 years (among 2 listings that state a term). Median building 1,856 SF. Figures update automatically from listing broker materials.
Marathon NNN Properties For Sale: Latest Listings
Up to twelve of the most recently listed single-tenant Marathon 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.
| Location | Asking Price | Cap Rate | NOI | Term Left | Built | Lease | |
|---|---|---|---|---|---|---|---|
| McIntosh, AL | $1,835,773 | 7.50% | $137,683 | n/a | 1973 | Not stated | Get full property data |
| Cleveland, OH | $1,988,200 | 6.09% | $121,081 | 2.4 yrs | 2002 | NNN | Get full property data |
| Dade City, FL | $2,100,000 | 7.31% | $153,600 | 20.0 yrs | 1987 | Absolute NNN | Get full property data |
Search all 3 Marathon 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.
Get new Marathon listings in your cap rate band
New Marathon net lease listings matched to your criteria, emailed as they are observed on the market. One email per match, nothing else.
Own a Marathon? Considering selling?
Investment Grade Income Property, LP advises owners nationally through Broker of Record co-listing partnerships in all 50 states. You choose the process: a quiet off-market placement with qualified 1031 buyers already searching this inventory, or a full on-market campaign. Either way it starts with a valuation benchmark against the live Marathon listings on this page.
Investment Grade Income Property, LP is a licensed commercial real estate brokerage. Your details are used to send the information you requested and are never shared with listing brokers without your permission.
What You Are Actually Buying
Marathon Petroleum Corporation refines and markets fuel. At December 31, 2025, there were 7,882 brand jobber outlets in 40 states, the District of Columbia and Mexico where independent entrepreneurs primarily maintain Marathon-branded outlets (Marathon Petroleum Form 10-K for 2025). Marathon sold Speedway, its company-owned and operated store business, to 7-Eleven, Inc. on May 14, 2021, and Speedway listings are covered on the Speedway NNN for sale page.
A Marathon-branded listing can therefore be a lease to a single-site dealer, a jobber that supplies many stations, or a larger convenience store company that sells Marathon fuel, and two Marathon listings at the same cap rate can carry very different credit. The ratings above describe Marathon Petroleum Corporation, the fuel supplier.
Across the current inventory, 0% of listings with a reported build year were delivered in the last four years, and 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.
Marathon 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.
| Asking Cap Rate Band | Listings | Share | Avg Asking Price |
|---|---|---|---|
| 6.00% to 6.49% | 1 | 33% | $1.99M |
| 7.00% and above | 2 | 67% | $1.97M |
| Asking Price Band | Listings | Share | Avg Cap Rate |
|---|---|---|---|
| $1.5M to $2.5M | 3 | 100% | 6.97% |
| Remaining Lease Term | Listings | Avg Cap Rate |
|---|---|---|
| Under 5 years | 1 | 6.09% |
| 15 years and longer | 1 | 7.31% |
| Lease Type (as marketed) | Listings |
|---|---|
| Absolute NNN | 1 |
| NNN | 1 |
| Not stated | 1 |
How to read the pricing
The spread inside the Marathon inventory runs from 6.09% to 7.50%, against a median of 7.31%. 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 Marathon NNN Properties Are For Sale
Current inventory spans 3 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.
| State | Listings | Avg Cap Rate | Avg Asking Price |
|---|---|---|---|
| AL | 1 | 7.50% | $1.84M |
| FL | 1 | 7.31% | $2.10M |
| OH | 1 | 6.09% | $1.99M |
Marathon as a 1031 Exchange Replacement Property
The median asking price in the current Marathon inventory is $1.99M, and about 100% of listings fall 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. The points below are general information, not tax or legal advice; confirm your own situation with your qualified intermediary and tax advisor.
- Identify from the live list, not a stale one. Listings move. Replacement property must be identified within 45 days of the sale of the relinquished property (Internal Revenue Code section 1031(a)(3)), and the three-property rule in Treasury Regulation section 1.1031(k)-1(c)(4) lets you identify up to three properties regardless of value, so keep a backup that is realistically still available.
- Debt replacement matters. Liabilities on the relinquished property that the other party assumes, or that the property is transferred subject to, are treated as money received, and they can be offset by liabilities on the replacement property and by cash the taxpayer adds (Treasury Regulation section 1.1031(d)-2). Where lender pricing sits above the asking cap rate, financed acquisitions run negative leverage, so run your 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, weigh remaining term and options alongside cap rate.
- Certainty of closing matters. The replacement property must be received within 180 days of the sale, or by the due date, including any extension, of the tax return for the year of the sale if that comes first (Internal Revenue Code section 1031(a)(3)). A clean estoppel, a current lease and no pending relocation reduce closing risk.
For identification mechanics, timelines and the NNN, DST and UPREIT alternatives, see the 1031 exchange into investment grade property guide.
Marathon NNN Due Diligence Checklist
These are the items that change the value of a Marathon listing and are rarely resolved by the offering memorandum.
- Lease signatory and guaranty. Identify the exact tenant entity, whether a dealer, a jobber or a convenience store company, and any guaranty. Marathon Petroleum’s ratings do not cover an operator’s lease unless it guarantees it in writing.
- Fuel supply agreement term. The branded supply agreement can expire before the lease, so the site can change brands while your tenant stays. Ask for the supply agreement term and the tenant’s plans for it.
- Underground storage tanks and environmental status. Obtain a current Phase I, tank age and tightness testing records, and confirm which party carries remediation, tank replacement and closure. Check the state tank fund and whether any open release case exists on the site.
- Fuel volume and store sales. Request monthly gallons and inside sales for at least two years. Rent coverage on an operator lease depends on site throughput.
How Investment Grade Works With Marathon 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 Marathon 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 the majority of transactions, there is no separate fee to you as 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 Marathon properties can use this page as a valuation benchmark. If you are weighing a sale, we can discuss an off-market sale to a qualified 1031 buyer as well as a broad marketing process.
Frequently Asked Questions
How many Marathon NNN properties are for sale right now?
As of October 2, 2026, 3 single-tenant Marathon net lease properties are observed for sale across 3 states. The count updates automatically as listings are added and removed.
Is Marathon investment grade?
That depends on who signed the lease. The ratings shown for Marathon are senior unsecured debt ratings of its parent company, Marathon Petroleum Corporation: BBB (Stable outlook) from S&P Global Ratings, Baa2 (Stable outlook) from Moody’s and BBB (Stable outlook) from Fitch Ratings; all investment grade (BBB-/Baa3 or higher). Whether that credit stands behind a specific lease depends on the tenant and any guarantor named in the lease. Ratings checked October 8, 2026. A dealer or operator lease carries the operator’s credit unless a written corporate guaranty says otherwise.
What cap rate do Marathon NNN properties sell at?
The current median asking cap rate is 7.31%, with the inventory ranging from 6.09% to 7.50%. Longer term, stronger markets and absolute NNN structures generally ask cap rates at the lower end of the range.
How much does a Marathon NNN property cost?
The median asking price in the current inventory is $1.99M, with listings from $1.84M to $2.10M. About 100% fall between 1.5 and 3.5 million dollars.
Who signs the lease on a Marathon property?
Marathon Petroleum supplies fuel to Marathon-branded outlets that independent entrepreneurs primarily maintain: 7,882 brand jobber outlets at December 31, 2025, according to its Form 10-K for 2025. The tenant on a Marathon listing is the operator named in the lease, which can be a dealer, a jobber or another convenience store company, and Marathon Petroleum’s ratings apply only if it guarantees the lease.
Is a Marathon property a good 1031 exchange replacement?
It depends on your equity, your debt replacement requirement and your hold period. The median asking price is $1.99M and about 100% of inventory sits between 1.5 and 3.5 million dollars. Term, lease structure and certainty of closing matter as much as the headline cap rate within the 45-day identification period.
Working a Marathon acquisition or a 1031 identification deadline? Register on any listing above for full property data and a due diligence review, or email steve@investmentgrade.pro with your price range, target states and closing timeline and we will screen the live inventory for you.
