Looking to buy a Piggly Wiggly NNN property? 5 are observed for sale across 2 states, median asking cap rate 7.00%. View Piggly Wiggly NNN properties for sale, cap rate bands and the 1031 buyer guide.
| Metric | Details |
|---|---|
| Brand | Piggly Wiggly, a grocery banner owned by C&S Wholesale Grocers |
| S&P / Moody’s | NR / NR |
| Investment grade status | Not Rated |
| Store operators | Independent grocers that license the banner, plus some stores operated by C&S Wholesale Grocers in the Midwest |
| Operator ratings | No verified agency rating for Piggly Wiggly or its store operators in our ratings database; confirm the lease obligor |
| Median asking cap rate | See the live table below |
Piggly Wiggly is not rated. Our ratings database records no public rating for Piggly Wiggly 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.
Piggly Wiggly Business Overview
Piggly Wiggly is a grocery banner with more than 500 stores in 18 states, licensed by Piggly Wiggly, LLC and C&S Wholesale Grocers; its stores are generally independently owned and operated, although C&S also operates some Piggly Wiggly stores in the Midwest. A Piggly Wiggly property is therefore often leased to a local or regional grocery operator, so confirm which entity signs the lease.
Piggly Wiggly Credit Profile
Our ratings database has no verified agency rating for Piggly Wiggly store operators, so a lease is only as strong as the specific operator and any guarantor. Underwrite each operator on its own: request financial statements, store sales and the operator’s history, and do not use the banner or the region as a stand-in for credit strength.
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: Our ratings database records no public agency rating. Ratings checked September 27, 2026.
Piggly Wiggly NNN Cap Rates
Live asking cap rates for Piggly Wiggly 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 | 5.28% | 4.69% to 5.50% | 16 | +4 bps |
| Piggly Wiggly | NR / NR | 7.00% | 7.00% to 7.00% | 5 | +176 bps |
| Dollar General | BBB / Baa3 | 7.00% | 6.60% to 7.75% | 533 | +176 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: Food Lion.
The listings we track include 5 Piggly Wiggly properties, so a single listing can move the median; the table also shows grocery and discount peers for comparison. Pricing can reflect the operator’s credit and the building’s re-use potential.
What to Check in a Piggly Wiggly Lease
- Tenant and guarantor: which entity signs the lease and whether a rated parent guarantees it.
- Term and rent: remaining term, renewal options and the rent schedule; rent increases vary by lease.
- Store performance: sales and rent relative to sales, where available.
- Co-tenancy and center role: whether the grocer anchors the center and what co-tenancy rights other tenants have.
- Re-use: demand from other grocers, discounters, fitness and medical users for the box.
Pros and Cons
| Strengths | Considerations |
|---|---|
| Grocery use can draw frequent shopping trips | Operators are generally independent, with no verified ratings in our database |
| Banner of more than 500 stores in 18 states | Credit varies widely between operators |
| Grocery boxes can suit discount and value retailers | Re-tenanting in small markets can take time |
Frequently Asked Questions
Is Piggly Wiggly investment grade?
No. Piggly Wiggly has no agency credit rating in our ratings database. Its stores are generally run by independent operators, for which we have no verified ratings, and C&S Wholesale Grocers operates some stores in the Midwest, so underwrite the entity that signs the lease.
Who owns Piggly Wiggly?
The Piggly Wiggly brand is owned by C&S Wholesale Grocers; stores are generally independently owned and operated under license, and C&S operates some Piggly Wiggly stores in the Midwest.
How should I underwrite a Piggly Wiggly lease?
Look at the specific operator and any guarantor: financial statements, store sales, rent relative to sales and the operator’s track record. The banner and the region are not a substitute for that analysis.
Sources: Piggly Wiggly, LLC website (pigglywiggly.com) and C&S Wholesale Grocers website (cswg.com), accessed October 8, 2026; listing and ratings data from InvestmentGrade.com’s databases.
Piggly Wiggly Net Lease Property: Buying, Selling and Financing
Buying: We find on-market and off-market Piggly Wiggly 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
Piggly Wiggly NNN Properties Observed For Sale
5 active Piggly Wiggly net lease listings observed across public listing sources, most recently Oct 9, 2026. Asking figures as published by the listing party.
| Location | Asking Price | Cap Rate | Building SF | Term Left | |
|---|---|---|---|---|---|
| Prattville, AL | $5,816,300 | 6.75% | 61,243 | n/a | View listing |
| Boscobel, WI | $1,596,000 | 7.00% | 30,700 | 5.0 yrs | View listing |
| Campbellsport, WI | $2,845,000 | 7.00% | 20,952 | 4.8 yrs | View listing |
| Mt Pleasant, WI | $3,840,000 | 7.80% | 40,362 | 3.8 yrs | View listing |
| Howards Grove, WI | $2,253,000 | 7.00% | 26,084 | n/a | View listing |
Search all 5 observed Piggly Wiggly 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.
