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A+ Tenant NNN Leased Investment 489 N Broadmore Way 29,700 SF Industrial Building Nampa, ID 83687 $7,740,000 ($260.61/SF) 5.77% Cap Rate
Investment Highlights
- 29,700-SF industrial facility built in 2023 on 3.11 acres with 1-acre secured yard.
- Heavy power: 600A, 480V, 3-phase; mezzanine level and two transformers.
- 5-year base term started Jan 2024, with two 5-year renewal options.
- Eight automatic roll-up doors: six 16’x14’ and two 26’x14’; 26’ clear height.
- NNN lease to SRS, a Home Depot company; $443K+ NOI with 3% annual bumps.
- Ideal 1031 exchange asset: below-market rents, strong credit tenant, Boise infill location.
Executive Summary
Position your portfolio for long-term success with this newly built industrial asset located in Idaho’s fastest-growing metro.
489 N Broadmore Way is a 29,700-square-foot Class A warehouse delivered in 2023, featuring 27,900 square feet on the ground floor and a 2,100-square-foot mezzanine, including 4,200 square feet of finished office space. The 3.11-acre site includes a fully fenced 1-acre yard and ample parking. Modern industrial features include eight automatic roll-up doors (six 16’x14’, two 26’x14’), 26' clear height, full insulation, sprinkler systems, and robust electrical infrastructure: 600-amp, 480-volt, 3-phase power and dual transformers.
The building is fully leased to SRS Distribution on a triple net (NNN) basis. Backed by Home Depot (NYSE: HD, $392B market cap), SRS is a national distributor of roofing and building materials with a strong credit profile. The lease commenced January 1, 2024, with an initial 5-year term, two 5-year renewal options, and 3% annual escalations, generating $443,911.38 in NOI.
Strategically positioned just off I-84 and minutes from Downtown Boise, the Union Pacific Rail Yard, and Boise Airport, this asset benefits from superior regional connectivity and strong tenant demand. The site offers limited nearby competition and infill scarcity—ideal for long-term appreciation.
The Treasure Valley continues to outperform national trends with a 7.4% annual industrial rent growth rate and over 60,000 new residents between 2020 and 2024. This property is a rare opportunity to acquire a stabilized, income-generating asset in one of the West’s premier logistics corridors.
489 N Broadmore Way is a 29,700-square-foot Class A warehouse delivered in 2023, featuring 27,900 square feet on the ground floor and a 2,100-square-foot mezzanine, including 4,200 square feet of finished office space. The 3.11-acre site includes a fully fenced 1-acre yard and ample parking. Modern industrial features include eight automatic roll-up doors (six 16’x14’, two 26’x14’), 26' clear height, full insulation, sprinkler systems, and robust electrical infrastructure: 600-amp, 480-volt, 3-phase power and dual transformers.
The building is fully leased to SRS Distribution on a triple net (NNN) basis. Backed by Home Depot (NYSE: HD, $392B market cap), SRS is a national distributor of roofing and building materials with a strong credit profile. The lease commenced January 1, 2024, with an initial 5-year term, two 5-year renewal options, and 3% annual escalations, generating $443,911.38 in NOI.
Strategically positioned just off I-84 and minutes from Downtown Boise, the Union Pacific Rail Yard, and Boise Airport, this asset benefits from superior regional connectivity and strong tenant demand. The site offers limited nearby competition and infill scarcity—ideal for long-term appreciation.
The Treasure Valley continues to outperform national trends with a 7.4% annual industrial rent growth rate and over 60,000 new residents between 2020 and 2024. This property is a rare opportunity to acquire a stabilized, income-generating asset in one of the West’s premier logistics corridors.
Property Facts
| Price | $7,740,000 | Lot Size | 2.89 AC |
| Price Per SF | $260.61 | Rentable Building Area | 29,700 SF |
| Sale Type | Investment NNN | No. Stories | 1 |
| Cap Rate | 5.77% | Year Built | 2023 |
| Sale Condition | 1031 Exchange | Tenancy | Single |
| Property Type | Industrial | Parking Ratio | 0.84/1,000 SF |
| Property Subtype | Distribution | Clear Ceiling Height | 26’ |
| Building Class | A | No. Drive In / Grade-Level Doors | 8 |
| Zoning | I-L - Light Manufacturing, Assembly, Fabrication, Distribution & Storage, & Technology-Related Uses. | ||
| Price | $7,740,000 |
| Price Per SF | $260.61 |
| Sale Type | Investment NNN |
| Cap Rate | 5.77% |
| Sale Condition | 1031 Exchange |
| Property Type | Industrial |
| Property Subtype | Distribution |
| Building Class | A |
| Lot Size | 2.89 AC |
| Rentable Building Area | 29,700 SF |
| No. Stories | 1 |
| Year Built | 2023 |
| Tenancy | Single |
| Parking Ratio | 0.84/1,000 SF |
| Clear Ceiling Height | 26’ |
| No. Drive In / Grade-Level Doors | 8 |
| Zoning | I-L - Light Manufacturing, Assembly, Fabrication, Distribution & Storage, & Technology-Related Uses. |
Amenities
- Fenced Lot
- Mezzanine
Utilities
- Lighting
- Gas - Natural
- Water - City
- Sewer - City
- Heating - Gas
Fairly walkable
40/100
Exceptionally drivable
100/100
Somewhat bikeable
30/100
Property Taxes
| Parcel Number | 13034115 0 | Improvements Assessment | $4,672,620 |
| Land Assessment | $922,080 | Total Assessment | $5,594,700 |
Property Taxes
Parcel Number
13034115 0
Land Assessment
$922,080
Improvements Assessment
$4,672,620
Total Assessment
$5,594,700
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AgEquity LLC
A+ Tenant NNN Leased Investment | 489 N Broadmore Way
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