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3930 W State St 1,588 SF Retail Building Boise, ID 83703 $2,325,600 ($1,464.48/SF) 5.50% Cap Rate
Investment Highlights
- Long-Term Absolute NNN Lease
- High-Quality Asset
- Strong National Credit Tenant
Executive Summary
This offering is a 100% leased, absolute NNN Valvoline Instant Oil Change property located at 3930 W State St in Boise, Idaho, offered at $2,325,600 with $127,908 NOI at a 5.50% cap rate. The asset consists of a 3,317 SF freestanding retail building situated on 0.6 acres, completed in 2019, and zoned MX-3 (Mixed-Use 3), Boise’s premier high-density mixed-use designation. The property is 100% leased to Valvoline, LLC, operating under Valvoline Inc. (NYSE: VVV), a publicly traded automotive service platform with more than 1,800 locations nationwide and a 150+ year operating history. The long-term absolute NNN lease structure provides passive ownership with no landlord responsibilities and features scheduled rental increases and multiple extension options, creating durable income growth and long-term stability.
Property Facts
Sale Type
Investment NNN
Property Type
Retail
Property Subtype
Auto Repair
Building Size
1,588 SF
Building Class
B
Year Built
2019
Price
$2,325,600
Price Per SF
$1,464.48
Cap Rate
5.50%
NOI
$127,908
Tenancy
Single
Building Height
1 Story
Building FAR
0.06
Lot Size
0.60 AC
Zoning
C1 - Commercial
Frontage
251’ on West State Street
Bike Score®
Very Bikeable (86)
Nearby Major Retailers
Property Taxes
| Parcel Number | R9441000405 | Improvements Assessment | $0 |
| Land Assessment | $0 | Total Assessment | $1,881,800 |
Property Taxes
Parcel Number
R9441000405
Land Assessment
$0
Improvements Assessment
$0
Total Assessment
$1,881,800
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3930 W State St
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