Murphy USA NNN Properties for Sale (1 Listing)
1 active listing · Updated October 8, 2026
Murphy USA is a public fuel retailer, New York Stock Exchange ticker MUSA, known for stations beside busy discount stores. New offerings are often 20-year absolute-net ground leases. You are buying land, access, and a corporate fuel tenant, not a convenience-store empire with a kitchen.
The asking band commonly repeated for new ground leases runs from the high 4s into the high 5s. Quick Facts is that commonly reported range. We have not certified it to closed sales. See properties for sale for the wider book.
Quick Facts
- Typical cap range
- 4.75–5.75%
- Lease type
- Absolute NNN ground lease on many new sites
- Typical term
- Often about 20 yr on new ground leases
- Credit
- Public — Murphy USA Inc. (NYSE: MUSA)
- Guarantee
- Murphy USA affiliate — confirm parent support and tank duties
Murphy USA Listings
Listing information is deemed reliable but not guaranteed — pricing, cap rates, and lease terms are subject to change, prior sale, or withdrawal without notice.
Get off-market Murphy USA deals
Land, canopy, tanks
Read the ground lease for who owns the improvements and the underground storage tanks during the term and after it. Absolute-net language should put repairs, taxes, and insurance on the tenant. End-of-term removal or surrender of tanks should be explicit. A Katy, Texas corner at a major intersection is a land underwriting: traffic counts, the neighboring anchor's health, and whether your legal description includes the access you think it does.
Public parent
MUSA files financials. Use them. Fuel retailers live on gallon volume and inside-store margins that are thinner than a Wawa's food business. The lease still pays if gallons dip, as long as the guarantor is the parent or a supported affiliate and the company is solvent. Check the current rating yourself. This page does not lock one in.
C-store comparisons
Wawa is the food-heavy convenience credit at scarcity pricing. 7-Eleven is the scaled corporate c-store with a bigger building. Circle K is the other multi-brand fuel credit, with more variation between corporate and dealer sites. Murphy is the tight ground lease next to someone else's retail traffic. Price it as land leased to a fuel company.
Term and exchange size
Twenty years from a future rent start is not twenty years from today. If rent begins months after closing, your remaining term at funding is shorter than the brochure's headline. Large checks show up in 1031 identification lists. The deadline math is separate from the tenant math, and both have to work.
Murphy USA NNN FAQs
What is Murphy USA?
Murphy USA Inc., ticker MUSA, is a public fuel retailer that was separated from Murphy Oil. Many stations sit on pads next to high-volume Walmart stores, with a small building and a large canopy. The credit you want is a Murphy affiliate plus a guaranty, not the grocery operator next door. Walmart adjacency is traffic. It is not a co-signer.
Why are so many of these ground leases?
On a ground lease Murphy typically owns the canopy, tanks, and kiosk, and you own the land. New deals are often marketed as absolute net with no landlord repairs, and with rent starting when the station opens. Confirm that split. Owning tanks you did not think you owned is the expensive version of a paperwork miss.
What cap rates are commonly reported?
New Murphy ground leases are commonly reported in the high 4s to the high 5s, tight because the term is long and the parent is public, and not as tight as the very best c-store credits when the building is tiny and the residual is land. Quick Facts is that commonly reported band, not a closing study.
What environmental work is mandatory?
A Phase I, and usually a hard look at tank ownership, leak detection, and state fund eligibility. Even when the tenant owns the tanks, your land is where a release would sit. Lenders will ask. Answer it before you waive contingencies. Fuel margin volatility is the tenant's problem on an absolute-net lease. Contamination is how it becomes yours at the end.
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