Getty Realty Corp (NYSE: GTY) is a net lease real estate investment trust that owns and leases freestanding retail properties focused on automobility and convenience-oriented uses. Revenue comes primarily from triple-net lease rents paid by tenants who operate the properties and bear most operating costs. As of December 31, 2025, the portfolio included 1,174 properties across 44 states and Washington D.C., with 1,145 owned and 29 ground-leased from third-party landlords. Of those, 1,169 properties were leased to tenants under triple-net leases, including 962 properties held under 62 separate unitary or master triple-net lease agreements. Typical properties are convenience stores, express tunnel car washes, automotive service centers, drive-thru quick service restaurants, and other freestanding retail uses, generally sited at high-traffic urban intersections or near highway ramps. Getty has elected REIT status since January 1, 2001 and is required to distribute at least 90% of taxable income annually to stockholders. The company is headquartered in New York, New York and had 31 employees as of February 12, 2026.

Revenue model

Triple-net lease rents from tenants who occupy convenience stores, car washes, automotive service centers, quick service restaurants, and similar freestanding retail properties. Under triple-net structures, tenants are responsible for property taxes, insurance, and maintenance, making rent the primary revenue stream with limited property-level operating expense for the landlord.

Products and services

Ownership and triple-net leasing of freestanding retail properties. Property types include convenience stores, express tunnel car washes, automotive service centers, drive-thru quick service restaurants, and other automobility-adjacent freestanding retail uses. Getty also owns the Getty trademark and licenses it to certain tenants at leased properties.

Customers and end markets

Tenants operating convenience stores, car washes, automotive service centers, and quick service restaurants. End markets are automobility and consumer convenience retail. As of December 31, 2025, 962 of 1,169 leased properties were held under 62 unitary or master triple-net leases, indicating a meaningful degree of tenant concentration through master lease structures.

Value-chain role

Property owner and landlord. Getty sits upstream of retail operators, providing real estate capital and long-term triple-net lease structures to tenants who run day-to-day operations at the sites.

Geographic exposure

44 states and Washington D.C. as of December 31, 2025. Properties are concentrated in larger metropolitan areas. The 10-K notes that a material portion of properties are concentrated in certain states, creating regional exposure risk. Headquartered in New York, New York.

Competitors

Publicly-traded REITs (net lease sector), Non-traded REITs, Public and private investment funds, Petroleum manufacturing, distributing and marketing companies, Institutional and individual real estate investors

Source: SEC 10-K, filed 2026-02-12

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