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

9 Murphy USA net lease properties are observed for sale across 6 states as of October 23, 2026, at a median asking cap rate of 5.00%. Investment Grade Research tracks each one across publicly marketed offerings and broker materials, checks the tenant against the investment grade threshold, and publishes the observations here: what is on the market, what it is asking, how pricing breaks down by term, state and lease type, and how an acquisition or 1031 exchange buyer should work through it. The corporate credit story is on the Murphy USA credit rating and cap rate profile.

Murphy USA NNN Properties For Sale: Latest Listings

Up to twelve of the most recently listed single-tenant Murphy USA 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 8 most recently listed of 9 observed listings; listings without a published asking price and cap rate are not shown here.

Market observations aggregated from publicly marketed offerings and broker materials; not offerings by Investment Grade Income Property, LP. Asking price, cap rate and NOI as published by the offering party. Information deemed reliable but not guaranteed. Verify all figures before relying on them.

What You Are Actually Buying

Murphy USA Inc. operated 1,800 company stores in 27 states at December 31, 2025: 1,649 under the Murphy USA and Murphy Express names and 151 under the QuickChek brand, with most Murphy branded stores in close proximity to Walmart Supercenters (Murphy USA Form 10-K for 2025). The company builds 2,800-square-foot new-to-industry Murphy stores and 1,400-square-foot raze-and-rebuild stores, and it reports that 73% of its stores sit on company-owned property.

Only 481 of those 1,800 stores were on leased property at the end of 2025, so Murphy USA leases are a minority of the network. Murphy Oil USA, Inc. is the company’s primary operating subsidiary, so confirm which entity signed the lease and whether Murphy USA Inc. guarantees it.

Across the current inventory, 89% of listings with a reported build year are new construction, with a stated year built of 2026 or later, and 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.

Murphy USA 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 Murphy USA inventory runs from 4.75% to 5.25%, against a median of 5.00%. 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 Murphy USA 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.

Murphy USA as a 1031 Exchange Replacement Property

The median asking price in the current Murphy USA inventory is $3.43M, and about 56% of listings fall 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. The points below are general information, not tax or legal advice; confirm your own situation with your qualified intermediary and tax advisor.

• Identify from the live list, not a stale one. Listings move. Replacement property must be identified within 45 days of the sale of the relinquished property (Internal Revenue Code section 1031(a)(3)), and the three-property rule in Treasury Regulation section 1.1031(k)-1(c)(4) lets you identify up to three properties regardless of value, so keep a backup that is realistically still available.
• Debt replacement matters. Liabilities on the relinquished property that the other party assumes, or that the property is transferred subject to, are treated as money received, and they can be offset by liabilities on the replacement property and by cash the taxpayer adds (Treasury Regulation section 1.1031(d)-2). Where lender pricing sits above the asking cap rate, financed acquisitions run negative leverage, so run your 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, weigh remaining term and options alongside cap rate.
• Certainty of closing matters. The replacement property must be received within 180 days of the sale, or by the due date, including any extension, of the tax return for the year of the sale if that comes first (Internal Revenue Code section 1031(a)(3)). A clean estoppel, a current lease and no pending relocation reduce closing risk.

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

Murphy USA NNN Due Diligence Checklist

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

• Tenant entity and guaranty. Confirm whether the lease names Murphy Oil USA, Inc., another subsidiary or the parent, and whether Murphy USA Inc. guarantees it.
• Ground lease or fee ownership. Determine whether you are buying land under a ground lease or land and building, who owns the store, canopy and tanks during the term, and what happens to the improvements at expiration.
• Neighboring parcel and access. Most Murphy branded stores sit near Walmart Supercenters. Review any reciprocal easement, access or use restrictions tied to the neighboring parcel, since access to the site can run through it.
• Underground storage tanks and environmental status. Obtain a current Phase I, tank age and testing records, and confirm which party carries remediation, tank replacement and closure.

How Investment Grade Works With Murphy USA 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 Murphy USA 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 the majority of transactions, there is no separate fee to you as 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 Murphy USA properties can use this page as a valuation benchmark. If you are weighing a sale, we can discuss an off-market sale to a qualified 1031 buyer as well as a broad marketing process.

Frequently Asked Questions

• Murphy USA 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