Valero NNN Properties For Sale: Listings, Cap Rates and 1031 Buyer Guide

This page tracks Valero 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 Valero 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.

Valero NNN Properties For Sale: Latest Listings

Up to twelve of the most recently listed single-tenant Valero 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.

Showing the 4 most recently listed of 7 observed listings; listings without a published asking price and cap rate are not shown here.

Search all 7 Valero 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.

What You Are Actually Buying

Valero Energy Corporation is a refiner and fuel wholesaler, not a retailer. It exited company-operated stores more than a decade ago, and the roughly 7,000 outlets that carry its brand names, sold in the United States as Valero, Diamond Shamrock, Beacon and Shamrock, are independently owned and run by dealers and distributors who buy fuel under supply agreements. The corporation almost never signs the retail lease. Most listings are therefore dealer or jobber leases, and you are buying the credit of that operator unless a corporate guaranty is in the documents. Two Valero listings with the same brand and the same cap rate can be a multi-state distributor on one side and a single-store dealer on the other.

The typical site is a convenience store of roughly 2,500 to 5,000 square feet with a fuel canopy on one to two acres at a signalized corner or highway interchange, with larger travel-center formats in some markets. Initial terms run 10 to 20 years, and dealer leases usually carry periodic increases, most often every five years, rather than flat primary-term rent. Absolute NNN is the norm because the operator controls tanks, canopy and store. Ground leases are common where the dealer built and owns the improvements, and many listings are sale-leasebacks by the dealer, which means the lease was written by the seller you are buying from.

Across the current inventory, roughly 20% of listings with a reported build year were delivered in the last four years, and about 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.

Valero 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.

How to read the pricing

The spread inside the Valero inventory runs from 6.45% to 8.00%, against a median of 7.38%. 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 Valero NNN Properties Are For Sale

Current inventory spans 6 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.

Valero as a 1031 Exchange Replacement Property

The median asking price in the current Valero inventory is $2.95M, and about 57% of listings fall in the middle of the market 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.

• Identify from the live list, not a stale one. Listings move. Identify two or three specific properties under the three-property rule and keep a backup that is realistically still available.
• Debt replacement is the trap. If the relinquished property carried a mortgage, you must replace that debt or add cash to fully defer gain. Where lender pricing sits above the asking cap rate, financed acquisitions run negative leverage. Run your own 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, prioritize term and options over 25 basis points of cap rate.
• Certainty of closing matters more than price. A clean estoppel, a current lease and no pending relocation are worth paying for on a 45-day clock.

For identification mechanics, timelines and the NNN, DST and UPREIT alternatives, see the 1031 exchange into investment grade property guide.

Valero NNN Due Diligence Checklist

These are the items that change the value of a Valero listing and are rarely resolved by the offering memorandum.

• Underground 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 fuel tank fund and whether any open release case exists on the site.
• Guarantor identity and supply agreement term. Identify the exact lease signatory, whether a dealer entity, a distributor or the corporation, and any guaranty. The Valero brand supply agreement often expires before the lease, so the site can rebrand while your tenant stays.
• Ground lease and improvement ownership. Determine whether you own the store and canopy or only the land. On a ground lease the tanks and improvements revert at expiration, which shifts environmental exposure to you at the worst possible moment.
• Fuel volume and store sales. Request monthly gallons and inside sales for at least two years. Rent coverage on a dealer lease depends entirely on site throughput, and a station without corporate credit trades to a narrower buyer pool on exit.

How Investment Grade Works With Valero 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 Valero 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 most transactions there is no separate fee to 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 Valero properties can use this page as a valuation benchmark. If you are weighing a sale, an off-market disposition to a qualified 1031 buyer often closes faster and with less retrading than a broad marketing process.

Frequently Asked Questions

• Valero Credit Rating and NNN Cap Rate Profile
• NNN Cap Rates 2026: Tenant by Tenant Benchmarks
• 1031 Exchange Into Investment Grade Property
• Investment Grade Credit Tenant Ratings
• Search All Observed NNN Listings