Getty Realty

What Getty Realty does

Getty Realty Corp. (NYSE: GTY) is a publicly traded net lease REIT specializing in the acquisition, financing, and development of freestanding single-tenant retail real estate in the convenience, automotive, and related automobility sectors. The company's portfolio of approximately 1,191 properties across 45 states plus Washington, D.C., is leased to national and regional operators under long-term triple-net lease structures in which tenants are responsible for property maintenance, taxes, insurance, and environmental compliance. The portfolio composition is roughly 63% convenience and gas, 21% car wash, 7% legacy gas and repair, 6% auto service, 3% drive-thru QSR, and less than 1% auto parts and other, with 99.8% occupancy, a 10.1-year weighted average lease term, and 1.8% annual rent escalators built into most leases.

The company earns revenue primarily through monthly rental payments from these triple-net leases and additional ancillary income from property operations. Investment economics are driven by sale-leaseback transactions with growing operators, direct property acquisitions (both marketed and programmatic relationships with national tenants such as 7-Eleven, Circle-K, CrossAmerica Partners, BP, Arko, Casey's, Valvoline, Jiffy Lube, and Tidal Wave Auto Spa), build-to-suit development funding, and mortgage/seller financing. Capital deployment is funded via a combination of investment-grade unsecured notes (BBB- Fitch-rated), a $450M revolving credit facility, and public equity offerings through forward sale agreements.

Operationally, Getty is a focused, specialist platform with a New York City headquarters and approximately 30 employees. Management and board continuity is long-tenured, led by CEO Christopher J. Constant (in role since January 2016) and CFO Brian R. Dickman (since December 2020), with a March 2026 CIO transition to Robert J. Ryan. The company has paid dividends for 32 consecutive years and increased its dividend for 12 consecutive years, with Q1 2026 AFFO of $0.63 per share beating analyst expectations by approximately 23%.

Name

Getty Realty

Legal name

Getty Realty Corp.

Website

https://gettyrealty.com

Company type

Public

Founded year

1955

Operating status

Operating

Headcount range

11–50 employees

Short description

Getty Realty Corp. (NYSE: GTY) is a publicly traded net lease REIT that acquires, finances, and develops freestanding single-tenant convenience, automotive, and car wash properties under long-term triple-net leases with national and regional retail operators across the United States.

Ownership category

akta.pro rank

Headquarters

HQ city

Jericho

HQ country

United States

HQ region

North America

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

Operations, Personnel, Infrastructure, Others

Revenue model

1. Rental Income from Triple-Net Leases: The company generates revenue primarily through rental payments from tenants under triple-net leases. Tenants are responsible for property maintenance, taxes, insurance, and environmental compliance. Leases typically include annual rent escalations (1.8% stated), and the company executes sale-leaseback transactions to acquire properties.

Pricing tiers

Go-to-market motion1 record

Distribution channels4 records

Marketing channels5 records

Core offering

Getty Realty Corp. (NYSE: GTY) is a publicly traded net lease REIT that owns, acquires, finances, and develops freestanding single-tenant retail real estate focused on convenience, automotive, and related sectors. The company generates revenue primarily through rental payments under long-term triple-net leases, where tenants are responsible for property maintenance, taxes, insurance, and environmental compliance. It executes sale-leaseback transactions, direct property acquisitions, development funding, and asset management services for a portfolio of approximately 1,191 properties across 45 states plus Washington DC.

Product overview

Getty Realty Corp. is a net lease REIT offering a portfolio of freestanding single-tenant retail properties focused on convenience and automotive sectors. The core product offerings include four property types: Convenience & Gas (705 properties, $141.7M ABR), Car Wash (130 properties, $43.8M ABR), Auto Service (133 properties, $14.8M ABR), and Drive Thru QSR (53 properties, $6.6M ABR). These property types are complemented by four service capabilities: Acquisitions (sale leasebacks, forward purchases), Financing (development funding, mortgage loans), Redevelopment (build-to-suit, ground leases), and Asset Management (portfolio optimization, leasing). Together, these form an integrated real estate investment platform spanning the entire property lifecycle from acquisition through asset optimization.

Differentiator

Problem solved

Functional benefit

Products and services

• Convenience & Gas Properties Freestanding convenience and gasoline station properties leased to national and regional operators under triple-net leases. Represents the largest segment of the portfolio at 705 properties generating $141.7 million in annual base rent. Tenants include Arko, Casey's, Circle-K, 7-Eleven, BP, CrossAmerica Partners, and others.
• Car Wash Properties Freestanding car wash facilities leased to regional and national operators under triple-net leases. Comprises 130 properties with $43.8 million in annual base rent. Tenants include Tidal Wave Auto Spa, Whistle Express Car Wash, Splash Car Washes, and Ultra Clean Express Car Wash.
• Auto Service Properties Freestanding automotive service center properties including tire & battery, oil change, and collision repair facilities. Includes 133 properties generating $14.8 million in annual base rent. Tenants include Valvoline, Jiffy Lube, and MainSt Auto.
• Drive Thru QSR Properties Freestanding drive-thru quick service restaurant properties leased to fast food and fast casual operators. Includes 53 properties generating $6.6 million in annual base rent, representing approximately 3% of total ABR.
• Acquisitions Service Real estate acquisition services including sale-leasebacks, forward purchases, programmatic relationships, and marketed transactions for acquiring convenience and automotive retail properties. Primary deployment channel for capital, with $270M deployed across 73 property acquisitions at 7.9% initial cash yield in 2025.
• Financing Service Real estate financing solutions including development funding, mortgage loans, seller financing, and capital improvements for convenience and automotive retail operators and property owners.
• Redevelopment Service Real estate redevelopment services including single tenant retail redevelopment, alternate use development, ground leases, and build-to-suit projects for convenience and automotive retail properties.
• Asset Management Service Asset management services including portfolio optimization, dispositions, leasing, and ancillary income management for existing convenience and automotive retail properties.

Quantifiable outcome

• 99.7% portfolio occupancy rate
• +6 more outcomes

Named customers19 records

Segments4 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Partnerships

Nine partnerships are on record, tiered core, major and minor.

• CrossAmerica Partners LPcoreChannel Partner/ Reseller/ Distributor · 21 April 2026Lease extensions covering 164 properties with CrossAmerica Partners LP as a key tenant partner in the convenience and automotive retail REIT relationship.
• BP Products North AmericacoreChannel Partner/ Reseller/ Distributor · 21 April 2026Lease extensions involving BP Products North America as a major tenant partner under triple-net lease structures for petroleum marketing and convenience retail properties.
• CPD EnergymajorChannel Partner/ Reseller/ Distributor · 21 April 2026Lease extensions with CPD Energy as a convenience and automotive retail tenant partner across multiple properties.
• Shahani Inc.majorChannel Partner/ Reseller/ Distributor · 21 April 2026Lease extensions with Shahani Inc. as a regional convenience store operator tenant partner.
• Now & ForevermajorChannel Partner/ Reseller/ Distributor · 6 October 2025$100 million sale-leaseback transaction to acquire 12 convenience stores averaging over 8,000 square feet on prominent corners in Houston's West and Southwest submarkets. Properties subject to 15-year unitary net lease with rent increases every five years.
• NACS (National Association of Convenience Stores)majorStrategic or Co-development PartnerActive member of National Association of Convenience Stores, participating in industry events, research, and advocacy for the convenience retail sector.
• International Carwash AssociationmajorStrategic or Co-development PartnerMember of International Carwash Association supporting the car wash industry through association events, research, and standards development.
• Auto Care AssociationminorStrategic or Co-development PartnerMember of Auto Care Association supporting the automotive aftermarket through industry participation and standards development.
• Fuels InstituteminorStrategic or Co-development PartnerMember of Fuels Institute supporting research and education on fuels industry topics.

Scale indicators20 records

Recent moves7 records

Expansion highlights6 records

Direct peers

• Agree Realty Corporation: Agree Realty (NYSE: ADC) is a publicly traded net lease REIT focused on retail properties leased to leading retailers. It is the most directly comparable peer to Getty given similar size, net lease structure, and overlapping retail tenant base including convenience and automotive exposure.
• Four Corners Property Trust: Four Corners (NYSE: FCPT) is a net lease REIT focused on restaurants and other necessity-based retail. It is a comparable direct peer to Getty in business model and size, though its tenant base skews to restaurants rather than convenience/automotive.
• Phillips Edison & Company: Phillips Edison (NASDAQ: PECO) is a real estate investment trust focused on grocery-anchored shopping centers. It is a comparable direct peer in scale and net lease-like retail focus, though its properties are multi-tenant shopping centers rather than single-tenant net lease.
• NETSTREIT Corp. NETSTREIT (NYSE: NTST) is a net lease REIT focused on high-quality retail tenants with a similar property-by-property acquisition strategy. It is a direct peer to Getty given comparable business model and tenant credit underwriting approach.
• Broadstone Net Lease, Inc. Broadstone Net Lease (NYSE: BNL) is a diversified net lease REIT with industrial, restaurant, office, and retail tenants. It is a comparable direct peer given similar net lease structure and size range, though it is more diversified by property type.
• Essential Properties Realty Trust: Essential Properties (NYSE: EPRT) is a smaller net lease REIT focused on middle-market retail tenants across service, experience, and necessity-based uses. It is a comparable direct peer to Getty given similar size, net lease model, and focus on sale-leaseback transactions with growing operators.

Others

• Getty Realty Corp. Getty Realty (NYSE: GTY) is the subject company. Listed for completeness as a reference point.

Broad incumbents

• W. P. Carey Inc. W. P. Carey (NYSE: WPC) is a diversified net lease REIT with industrial, retail, and office exposure across the U.S. and Europe. It is a broad incumbent peer with comparable net lease structure and tenant base but materially larger scale and more diversified property mix.
• Realty Income Corporation: Realty Income (NYSE: O) is the largest net lease REIT in the U.S. with a broadly diversified portfolio across retail, industrial, and other property types. It is a broad incumbent peer with overlapping convenience and automotive tenant relationships but operates at much greater scale and scope than Getty.
• EPR Properties: EPR Properties (NYSE: EPR) is a specialty net lease REIT focused on experiential properties including golf, eat-and-play, and select automotive uses. It is a broad incumbent peer with some overlap in auto-related tenants but a fundamentally different property focus.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

Revenue estimate

Valuation estimate

Number of profiles

Profiles13 records

Funding overview

Funding rounds8 records

Investors9 records

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Getty Realty