Looking to buy a Walmart NNN property? 6 are observed for sale across 5 states, median asking cap rate 5.13%. View Walmart NNN properties for sale, cap rate bands and the 1031 buyer guide.
| Metric | Details |
|---|---|
| Company | Walmart Inc. (Nasdaq: WMT), Bentonville, Arkansas |
| S&P / Moody’s | AA / Aa2 |
| Investment grade status | Investment Grade |
| Walmart U.S. stores | 4,611 in all 50 states, Washington, D.C. and Puerto Rico (January 31, 2026) |
| Revenue | US$713.2 billion total revenues, fiscal year ended January 31, 2026 |
| Median asking cap rate | See the live table below |
Walmart Business Overview
Walmart operates supercenters, discount stores, Neighborhood Markets, Sam’s Club warehouse clubs and e-commerce. Total revenues were US$713.2 billion in the fiscal year ended January 31, 2026, and its Walmart U.S. segment operated 4,611 stores in all 50 states, Washington, D.C. and Puerto Rico, with net sales of US$483.0 billion. Its shares moved to Nasdaq in December 2025 and trade under the ticker WMT.
Walmart Credit Profile
Walmart Inc.’s long-term debt is rated AA/Aa2 by S&P and Moody’s (Form 10‑Q for the quarter ended July 31, 2026). It is not the highest-rated tenant in our database: Microsoft is rated no verified rating and Apple AA+/Aaa. A Walmart lease may be signed by a subsidiary, so confirm whether Walmart Inc. signs or guarantees it.
Ratings come from our tenant ratings database, which records the source and date of each rating, shown below. A rating at or above BBB‑/Baa3 is investment grade; see the investment grade guide.
Source: S&P Global Ratings AA, as of July 31, 2026; Moody’s Aa2, as of July 31, 2026; Fitch Ratings AA, as of July 31, 2026. Ratings checked October 8, 2026.
Walmart NNN Cap Rates
Live asking cap rates for Walmart 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 |
| Walmart | AA / Aa2 | 5.13% | 4.44% to 5.81% | 6 | −12 bps |
| Aldi / Trader Joe's | n/a / n/a | 5.25% | 4.55% to 5.50% | 17 | +1 bps |
| Target | A / A2 | 5.33% | 5.06% to 5.66% | 6 | +9 bps |
| The Home Depot | A / A2 | 5.48% | 5.35% to 5.75% | 6 | +23 bps |
| Lowe's | BBB+ / Baa1 | 5.75% | 5.63% to 5.80% | 3 | +51 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.
Walmart owns most of its U.S. stores (3,728 of 4,611 Walmart U.S. retail units as of January 31, 2026, Form 10‑K), and Walmart listings can be ground leases as well as building leases. Compare a property with listings that have the same lease structure.
What to Check in a Walmart 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 |
|---|---|
| Long-term debt rated AA/Aa2 | Walmart owns 3,728 of its 4,611 Walmart U.S. stores (Form 10‑K) |
| Very large national store base | Listings can be ground leases; confirm who owns the building |
| Supercenters can draw traffic for nearby tenants | Large boxes can have few replacement tenants |
Frequently Asked Questions
Is Walmart investment grade?
Yes. Walmart Inc.’s long-term debt is rated AA/Aa2 by S&P and Moody’s (Form 10‑Q for the quarter ended July 31, 2026).
Is Walmart the highest-rated net lease tenant?
No. Walmart Inc.’s long-term debt is rated AA/Aa2, while Microsoft (no verified rating) and Apple (AA+/Aaa) are rated higher in our ratings database.
Where does Walmart stock trade?
Walmart moved its listing to Nasdaq in December 2025 and trades under the ticker WMT.
Sources: Walmart Inc. Form 10‑K for the fiscal year ended January 31, 2026; ratings from InvestmentGrade.com’s ratings database.
Walmart Net Lease Property: Buying, Selling and Financing
Buying: We find on-market and off-market Walmart 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
- Ross Dress For Less
- Staples
- The Container Store
- TJ Maxx / HomeGoods / Marshalls
- Tractor Supply Co.
- Ulta Beauty
- Ollie’s Bargain Outlet
- Target
- Sam’s Club
Walmart NNN Properties Observed For Sale
6 active Walmart 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 | |
|---|---|---|---|---|---|
| Alexandria, LA | $9,503,350 | 6.00% | 41,117 | 11.0 yrs | View listing |
| Waxhaw, NC | $6,627,000 | 4.15% | 41,356 | 8.9 yrs | View listing |
| Waycross, GA | $10,327,783 | 6.00% | 41,117 | 6.0 yrs | View listing |
| Compton, CA | $7,340,723 | 5.25% | 16,756 | n/a | View listing |
| Crestview, FL | $15,180,000 | 5.00% | 45,603 | n/a | View listing |
| FORT LAUDERDALE, FL | $30,598,250 | 4.25% | 157,459 | n/a | View listing |
Search all 6 observed Walmart 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.
