What is Samu2019s Club credit rating?

Samu2019s Club inherits the credit profile of parent company Walmart Inc., which holds ratings of AAu2011 from S&P and Aa3 from Moodyu2019s. These high investment-grade ratings reflect Walmartu2019s market leadership, strong cash flow generation, and operational resilience across 600+ Samu2019s Club locations.

What are typical cap rates for Samu2019s Club NNN properties?

NNN properties leased to Samu2019s Club typically trade at cap rates between 4.5% and 5.5%. These lower cap rates reflect the tenantu2019s strong AAu2011/Aa3 credit quality and Walmart backing, with property values typically ranging from $4M to $12M.

Is Samu2019s Club a good NNN investment?

Samu2019s Club is an excellent NNN investment due to its AAu2011/Aa3 credit ratings backed by Walmart, 600+ locations, 65+ million members, and approximately $70 billion in segment revenue. The membership warehouse model provides consistent foot traffic and revenue stability.

Sam's Club Credit Rating & NNN Cap Rate Analysis

Q: What are Samu2019s Club NNN lease terms?

Samu2019s Club NNN lease terms generally range from 15 to 20 years with renewal options. Triple net leases transfer property taxes, insurance, and maintenance costs to the tenant, with Walmartu2019s investment-grade backing providing significant lease security.

Sam’s Club: Investment Grade Retail Warehouse Excellence

Sam’s Club operates as a membership-based warehouse retail chain, offering bulk purchasing opportunities across grocery, household goods, electronics, and services. With a nationwide footprint of 600+ locations and consistent revenue generation, Sam’s Club represents a stable investment opportunity within the retail warehouse segment.

Ticker	WMT (Walmart subsidiary)
Headquarters	Bentonville, Arkansas
Founded	1983
Locations	600+
Annual Revenue (Est.)	$70+ billion (Walmart segment)
Member Count	65+ million
S&P Rating	AA‑
Moody’s Rating	Aa3
NNN Cap Rate Range	4.5% – 5.5%

Business Overview

Sam’s Club, owned by Walmart Inc., operates as a premium warehouse club with over four decades of market presence. The business model emphasizes membership-based revenue combined with high-volume merchandise sales at discounted prices. Key revenue drivers include fresh groceries, household consumables, electronics, and ancillary services such as pharmacy and optical services. The company benefits from Walmart’s operational infrastructure, supply chain excellence, and financial support, ensuring consistent execution across all 600+ locations.

Credit Rating Analysis

Sam’s Club inherits the strong credit profile of its parent company, Walmart Inc., which maintains investment-grade ratings from both S&P (AA‑) and Moody’s (Aa3). These ratings reflect strong cash flow generation, market leadership, and operational resilience. The company has demonstrated ability to maintain profitability through economic cycles and adapt to changing consumer preferences, including growth in e-commerce and membership services.

NNN Lease Structure

Triple Net leases for Sam’s Club locations typically transfer property taxes, insurance, and maintenance costs to the tenant (Sam’s Club itself or franchisee operators). Lease terms generally range from 15–20 years with renewal options. Sam’s Club’s investment-grade status and Walmart backing provide significant lease security and timely payment reliability, making these leases attractive to institutional real estate investors.

Cap Rate & Pricing Analysis

NNN properties leased to Sam’s Club command cap rates in the 4.5% – 5.5% range, reflecting the tenant’s strong credit quality and operational consistency. Properties in primary and secondary markets benefit from membership demand and consistent foot traffic. Pricing typically ranges from $4M – $12M per property depending on location, market tier, and local real estate conditions.

Real Estate Footprint

Sam’s Club maintains locations across all 50 states with concentration in high-population metropolitan areas and suburban markets. The real estate strategy emphasizes high-traffic areas with strong demographic alignment to target membership profiles. Properties typically range from 120,000 – 150,000 square feet with substantial parking and ancillary services.

Growth & Expansion

Sam’s Club continues modest expansion with focus on membership growth and same-store sales improvement. Recent strategies include e-commerce acceleration, enhanced fresh merchandise offerings, and service expansions (optical, pharmacy). Growth is measured but stable, with emphasis on market penetration and operational efficiency rather than aggressive expansion.

Investment Pros

Investment-Grade Tenant: AA‑ / Aa3 ratings provide strong lease security
Walmart Backing: Parent company support ensures financial stability
Consistent Revenue: Membership model generates predictable cash flows
Essential Services: Bulk retail fills essential household and business needs
Nationwide Presence: 600+ locations provide diversification and liquidity
Operational Excellence: Supply chain and inventory management drive efficiency

Investment Cons

E-commerce Pressure: Digital retail continues to disrupt traditional warehouse concepts
Labor Cost Inflation: Wage pressures impact operating margins
Real Estate Sensitivity: Property performance tied to local market conditions
Modest Growth Rates: Expansion pace slower than aggressive retail competitors
Economic Cycle Risk: Membership demand sensitive to consumer spending patterns

Comparable Tenants

Other warehouse and membership retail investments include Costco (COST, investment-grade), Target (TGT, investment-grade), and Bed Bath & Beyond (BBBY, non-investment-grade). Sam’s Club offers similar lease quality to Costco with broader geographic concentration and Walmart operational advantages.

Frequently Asked Questions

What credit rating does Sam’s Club carry?

Sam’s Club carries investment-grade ratings of AA‑ from S&P and Aa3 from Moody’s, reflecting the strong credit quality of parent company Walmart Inc.

What is the typical NNN cap rate for Sam’s Club properties?

NNN cap rates for Sam’s Club properties typically range from 4.5% to 5.5%, reflecting strong tenant credit quality and operational consistency.

How many Sam’s Club locations exist?

Sam’s Club operates over 600 locations across all 50 states, with primary concentration in metropolitan and suburban markets.

What are the key risks for Sam’s Club NNN investments?

Primary risks include e-commerce disruption, labor cost inflation, and sensitivity to consumer spending patterns. However, investment-grade rating and Walmart backing mitigate many traditional retail risks.

How does Sam’s Club compare to Costco as an investment?

Both offer investment-grade lease quality. Sam’s Club benefits from Walmart’s operational infrastructure and broader geographic presence, while Costco commands premium pricing. Choice depends on market location and investor preferences.

Call to Action

Explore Sam’s Club NNN Investment Opportunities: Investment-grade retail warehouse properties leased to Sam’s Club offer stable cash flows and strong tenant credit backing. Contact InvestmentGrade.com to identify available Sam’s Club NNN properties in your target markets. Our team specializes in matching institutional investors with triple-net lease opportunities across all tenant categories.

The Only Sam’s Club NNN Advisor Whose Fee Comes From the Deal, Not From You

In NNN buyer representation, the listing broker pays the cooperating commission. That means you get a dedicated Sam’s Club NNN advisor handling sourcing, underwriting, financing, and closing — and on the majority of transactions, there is no separate fee to you as the buyer.

Here’s what that buys you:

Find It — On-market and off-market Sam’s Club NNN properties sourced and underwritten on your behalf. We know which markets are pricing correctly, which listings are overpriced for what the lease actually says, and where the spread is worth the move.

Fund It — Acquisition financing through 150+ lender relationships: life companies, CMBS, regional banks, and credit unions that know Sam’s Club-grade paper. Not the first approval that comes back. The best terms on the table for this specific credit and lease structure.

Exit It — Selling a Sam’s Club asset or repositioning through a 1031? Our Capital Markets desk runs a quiet, targeted process. Private investors, family offices, and institutional buyers who are actively acquiring Sam’s Club net lease — not a public blast that signals desperation to the market.

Not committed to Sam’s Club? Tell us your criteria — cap rate floor, credit tier, lease structure, geography, equity check size — and we’ll find the deal that fits. We represent investors across the full NNN credit spectrum, from QSR and pharmacy to industrial, medical, and big box retail. The tenant is a variable. Your criteria is the constant.

Get Your Free Sam’s Club NNN Consultation →

In a 1031 exchange with a deadline? Tell us your timeline — we move faster.

Related NNN Tenants

Own a Sam's Club Property? Capital Markets Strategies Beyond Selling

Maturing debt and considering refinancing? Our capital markets team maintains 150+ lender relationships underwriting NNN properties across investment-grade and non-investment-grade credit tiers. We structure rate-and-term refinancing, cash-out refis, and bridge-to-perm takeouts.

Evaluating a 1031 exchange or disposition? We represent both sides of Sam's Club NNN transactions — whether you are looking to exit at peak value, exchange into a higher-quality credit tenant, or reposition within the same sector.

Need a current valuation? We maintain live comps on Sam's Club NNN transactions and can produce a Broker Opinion of Value within 48 hours reflecting today’s cap rate market.

Schedule a 15-minute capital markets consultation →

Own multiple Sam's Club properties? Considering an off-market sale?

Investment Grade represents owners on confidential disposition of Sam's Club portfolios and individual properties through off-market direct-to-principal distribution to specialty REITs, private equity funds, and family offices. Sam's Club buyer demand runs deep, and portfolio sales consistently produce stronger pricing than sequential individual sales because the institutional buyer pool is structured around portfolio acquisition.

For multi-property owners considering a portfolio disposition, see Selling Investment Grade NNN Off-Market: Tenant-by-Tenant Buyer Demand. For the full off-market framework covering individual property dispositions, sale-leasebacks, and 1031 coordination, see Off-Market CRE Sales: The Complete 2026 Guide.

The pre-listing conversation is at no cost and fully confidential. Email team@investmentgrade.com or see contact Investment Grade.

Sam’s Club Credit Rating & NNN Cap Rate