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NNN Speedway for Sale
Speedway is owned by 7-Eleven, Inc., which agreed in August 2020 to buy about 3,900 Speedway stores from Marathon Petroleum for $21 billion (Mass Market Retailers). The Boulder Group lists 7-Eleven at S&P A-, but that rating applies to 7-Eleven, so confirm which entity signed a Speedway lease, whether 7-Eleven guarantees it, how long it runs and who handles the roof and structure.
A triple net lease generally shifts property taxes, insurance and maintenance to the tenant, which can suit investors leaving hands-on real estate through a 1031 exchange. Neither The Boulder Group nor Matthews profiles Speedway, so we don’t quote a cap rate here. Call us for current pricing on a specific property.
A-
S&P rating of 7-Eleven, Speedway’s owner (Boulder)
~3,900
Speedway stores in the 7-Eleven deal announced August 2020
645
North American 7-Eleven closures planned for fiscal 2026
Not profiled
Boulder and Matthews cover 7-Eleven, not Speedway
Varies
Lease term and rent increases, set in each lease
Confirm
Lease type and tenant: ask who handles roof, structure and environmental duties
Sources: The Boulder Group, Net Lease Tenant Profiles, September 2026 (7-Eleven credit rating); Mass Market Retailers (Speedway acquisition announcement); AP, via Food Manufacturing, April 2026 (closures). Neither The Boulder Group nor Matthews profiles Speedway.
Key Takeaways
Owned by 7-Eleven, Inc.
Speedway is owned by 7-Eleven, Inc., which agreed in August 2020 to buy about 3,900 Speedway stores in 35 states from Marathon Petroleum for $21 billion (Mass Market Retailers). Boulder lists 7-Eleven at S&P A- (The Boulder Group, Net Lease Tenant Profiles, September 2026), but that rating applies to 7-Eleven, so confirm that it signs or guarantees a Speedway lease.
Lease Terms Vary by Property
Neither The Boulder Group nor Matthews profiles Speedway, so we don’t quote typical Speedway lease terms. Both do profile 7-Eleven, but that is a different brand and lease, and we don’t apply its terms here. Read each lease for the term, rent increases and who handles the roof, structure and environmental duties.
No Published Cap Rates
Speedway isn’t in The Boulder Group’s September 2026 profiles or Matthews’ 2026 tenant report, so we don’t show a cap rate range. Ask our team for current pricing on a specific property instead of relying on a general number. The reports do profile other fuel brands, which we cover on our Gas Stations page.
7-Eleven Is Closing Stores
7-Eleven’s North American operator plans to close 645 stores in fiscal 2026, including conversions to wholesale fuel stores, against 205 planned openings (AP, via Food Manufacturing, April 2026). It did not say which stores, so ask whether a specific Speedway site is affected.
Speedway NNN Cap Rates and Lease Data
If you’re weighing a Speedway property, three things shape what you’ll earn: who the tenant is, how the lease is structured and what yield you’re paying for. Speedway is different from the tenants in some of our other guides, because the standard market reports don’t cover it. Here’s what we can say with a source, and what we can’t.
On the tenant, we can describe the owner but not rate Speedway itself. Speedway is owned by 7-Eleven, Inc., which agreed in August 2020 to buy about 3,900 Speedway stores in 35 states.1 Boulder lists 7-Eleven at S&P A-, but the rating applies to 7-Eleven, not to a Speedway lease unless 7-Eleven signs or guarantees it.2
On the lease and the yield, we have to be straight with you. The Boulder Group’s September 2026 profiles and Matthews’ 2026 tenant report both profile 7-Eleven, but neither includes Speedway.3 That means there’s no published typical lease term, rent increase, building size or cap rate range for Speedway to quote, and we won’t estimate one or borrow 7-Eleven’s.
What we can do is look at a specific property with you. Ask for the lease and the offering memorandum, then compare the remaining term, rent increases and landlord duties against comparable sales. Talk to Our Team and we’ll walk through current pricing.
1. Mass Market Retailers: 7-Eleven announced in August 2020 that it would acquire approximately 3,900 Speedway stores in 35 states from Marathon Petroleum for $21 billion in cash. This source covers the announcement, not the closing or Speedway’s current store count, which we did not find. ↩
2. The Boulder Group, Net Lease Tenant Profiles, September 2026, p. 1 (7-Eleven). Credit rating is S&P, as reported by Boulder. Boulder does not profile Speedway. ↩
3. The Boulder Group, Net Lease Tenant Profiles, September 2026 (7-Eleven profile; no Speedway profile in the table of contents); Matthews, 2026 Net Lease Tenant Report, May 2026 (7-Eleven page; no Speedway page). We checked both documents for Speedway directly. ↩
Speedway as a Tenant
How Speedway operates
Speedway is a convenience store and fuel chain owned by 7-Eleven, Inc., part of Seven & i Holdings. 7-Eleven agreed in August 2020 to buy it from Marathon Petroleum for $21 billion in cash, a deal covering about 3,900 stores in 35 states (Mass Market Retailers).
We could not find a current Speedway store count, and 7-Eleven’s North American footprint is shrinking. It expects to close 645 North American stores in the fiscal year ending in February 2027, including conversions to wholesale fuel stores, against 205 planned openings (AP, via Food Manufacturing, April 2026). It did not say which stores.
For a net lease buyer, the lease matters more than the sign. Ask who signed it, whether 7-Eleven, Inc. guarantees it, how long it runs, what renewal options exist and who handles the roof, structure and environmental duties. Also ask whether the site is still operating as a Speedway store.
Financial strength and growth
The Boulder Group lists 7-Eleven at S&P A- (The Boulder Group, Net Lease Tenant Profiles, September 2026). That rating applies to 7-Eleven, not to a lease signed by another entity. 7-Eleven is owned by Seven & i Holdings, which delayed its planned IPO of the North American business until its next fiscal year (Fox 13, April 13, 2026).
Seven & i expects its revenue to fall 9.4% in the current fiscal year, to about 9.45 trillion yen, or roughly $59.5 billion (AP, via Food Manufacturing, April 2026).
These figures are as of April 2026 reports and may have changed since. Check 7-Eleven’s latest announcements before you buy.
Why Investors Buy Speedway Properties
The case for Speedway is its owner. 7-Eleven, Inc. is a large convenience operator that Boulder rates A- (The Boulder Group, Net Lease Tenant Profiles, September 2026), and it is part of Seven & i Holdings.
Under a triple net lease, the tenant generally pays property taxes, insurance and maintenance, which keeps the landlord’s role simple. Whether a given Speedway lease is truly triple net, or a ground lease or a lease that leaves the roof and structure with the landlord, depends on the lease, so check it before you buy.
A single-tenant Speedway property can also work as a 1031 exchange replacement property. Boulder and Matthews publish figures for 7-Eleven but not for Speedway, so ask our team for current comparable sales rather than leaning on one quoted number.
Risks and Market Conditions
Credit and structure risk. Boulder’s A- rating is for 7-Eleven, not for Speedway. A Speedway lease may be signed by Speedway LLC or another subsidiary, so confirm the tenant entity, any 7-Eleven guarantee and the remaining term.
Closure risk. 7-Eleven plans to close 645 North American stores in fiscal 2026, including conversions to wholesale fuel stores (AP, via Food Manufacturing, April 2026). A conversion to a wholesale fuel store can change who operates the site, so ask whether a specific property is affected and who the tenant would be.
Build a Diversified NNN Portfolio
Pairing a Speedway with other net-lease brands spreads risk across tenants, industries and markets. Compare other brands we help buyers acquire:
Speedway NNN FAQs
Who pays property expenses on a Speedway NNN property?
In a triple net lease the tenant generally pays real estate taxes, insurance and maintenance, but the lease controls. Some net leases leave the roof and structure with the landlord, so read the lease and confirm who handles them.
Who owns Speedway?
Speedway is owned by 7-Eleven, Inc., which agreed in August 2020 to buy it from Marathon Petroleum for $21 billion (Mass Market Retailers). 7-Eleven is part of Seven & i Holdings.
What is Speedway’s credit rating?
The Boulder Group lists 7-Eleven at S&P A- (September 2026) but does not profile Speedway. The rating applies to 7-Eleven, so confirm which entity signed your lease and whether 7-Eleven guarantees it.
How should I evaluate a Speedway store as a tenant?
Start with the lease: the signing entity, any guarantee, the remaining term, rent increases and who handles the roof, structure and environmental duties. Then look at the store’s age and sales. Neither The Boulder Group nor Matthews publishes Speedway cap rates, so ask our team for current comparable sales.
Questions about NNN Speedway Properties for Sale?
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Contact Our Team →Disclaimer
Market data, cap rates, and tenant statistics on this page come from third-party reports and company disclosures, cited in the footnotes. We believe these sources are reliable but do not guarantee their accuracy or completeness. Figures reflect the date of each source and change with market conditions, so verify current numbers before relying on them.