| Metric | Details |
|---|---|
| Company | Ross Stores, Inc. (Nasdaq: ROST), Dublin, California |
| S&P / Moody’s (Ross Stores, Inc.) | A- / no verified rating |
| Investment grade status | Investment Grade |
| Stores | 1,952 Ross Dress for Less stores in 44 states, Washington, D.C., Guam and Puerto Rico, plus 376 dd’s DISCOUNTS stores (August 1, 2026) |
| Median asking cap rate | See the live table below |
Ross Business Overview
Ross Stores operates Ross Dress for Less, which it describes as the largest off-price apparel and home fashion chain in the United States, and dd’s DISCOUNTS. As of August 1, 2026, it had 1,952 Ross stores in 44 states, Washington, D.C., Guam and Puerto Rico, and 376 dd’s DISCOUNTS stores. The company is based in Dublin, California.
Ross Credit Profile
Ross Stores, Inc. is rated A- in our ratings database, which classifies it as investment grade. It is a public company that files audited financial statements with the SEC. Confirm that Ross Stores, Inc. signs or guarantees the lease.
Ratings come from our tenant ratings database, which records each rating’s source and date (below). A rating at or above BBB‑/Baa3 is investment grade; see the investment grade guide.
Source: S&P Global Ratings A-, as of March 20, 2026. Ratings checked October 8, 2026.
Ross NNN Cap Rates
Live asking cap rates for Ross and comparable tenants:
| Tenant | S&P / Moody’s | Median asking cap rate | Middle half of listings | Listings | Median vs. 10-year Treasury |
|---|---|---|---|---|---|
| Target | A / A2 | 5.33% | 5.06% to 5.66% | 6 | +9 bps |
| Ross Dress for Less | A- / n/a | 7.41% | 7.08% to 7.54% | 3 | +217 bps |
| Kohl's | B+ / B2 | 7.63% | 7.38% to 7.89% | 8 | +239 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: T.J. Maxx, Burlington, Ollie's Bargain Outlet.
Ross says its stores are located predominantly in community and neighborhood shopping centers (Form 10‑K for fiscal 2025). InvestmentGrade.com currently tracks 3 active Ross net lease listings, and the table shows a Ross median only when at least three active listings with a published cap rate are tracked. Compare a property with other off-price retailers.
What to Check in a Ross Lease
- Tenant and guarantor: which entity signs the lease and whether the rated parent guarantees it.
- Term and rent: remaining term, renewal options and the rent schedule; rent increases vary by lease.
- Co-tenancy: for shopping center locations, co-tenancy and go-dark provisions.
- Re-use: the size of the box and the pool of possible replacement tenants.
- Rent versus market: whether rent is at or below market rent.
Pros and Cons
| Strengths | Considerations |
|---|---|
| S&P / Moody’s ratings on file: A- / no verified rating | Stores are located predominantly in shopping centers (Form 10‑K) |
| Growing store base | Shopping center co-tenancy terms can apply |
| Net earnings of $851 million in the quarter ended August 1, 2026, including a benefit of about $0.60 per share from IEEPA tariff refunds | Exposure to apparel and imported goods costs |
Frequently Asked Questions
Is Ross investment grade?
Yes. Ross Stores, Inc. is rated A- in our ratings database. Confirm that Ross Stores, Inc. signs or guarantees the lease.
How many Ross stores are there?
As of August 1, 2026, Ross had 1,952 Ross Dress for Less stores in 44 states, Washington, D.C., Guam and Puerto Rico, plus 376 dd’s DISCOUNTS stores.
Where is Ross headquartered?
Dublin, California.
Sources: Ross Stores, Inc. Form 10‑Q for the quarter ended August 1, 2026, earnings release filed on Form 8‑K on August 20, 2026, and Form 10‑K for fiscal 2025; ratings from InvestmentGrade.com’s ratings database.
Ross Dress for Less Net Lease Property: Buying, Selling and Financing
Buying: We find on-market and off-market Ross Dress for Less 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
- Barnes & Noble
- Bed Bath & Beyond
- Best Buy
- Big Lots
- BJ’s Wholesale Club
- Burlington
- Costco
- Dick’s Sporting Goods
- Dillard’s
- DSW
- Dunham’s Sports
- Five Below
- Floor & Decor
- Harbor Freight
- Home Depot
- JCPenney
- Joann Fabric & Crafts
- Kirkland’s
- Kohl’s
- Lifetime Fitness
- Lowe’s
- Macy’s
- Michaels
- Nordstrom
- Office Depot / OfficeMax
- Old Navy / Gap
- Party City
- Petco
- PetSmart
- Planet Fitness
- Staples
- The Container Store
- TJ Maxx / HomeGoods / Marshalls
- Tractor Supply Co.
- Ulta Beauty
- Ollie’s Bargain Outlet
- Target
- Walmart
- Sam’s Club
Ross Dress for Less NNN Properties Observed For Sale
3 active Ross Dress for Less net lease listings 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 | |
|---|---|---|---|---|---|
| Tucson, AZ | $3,990,000 | 7.66% | 25,818 | n/a | View listing |
| Morton Grove, IL | $4,900,000 | 7.41% | 22,000 | n/a | View listing |
| Lompoc, CA | $4,683,000 | 6.75% | 31,608 | n/a | View listing |
Search all 3 observed Ross Dress for Less 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.
