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A+ Tenant NNN Leased Investment 489 N Broadmore Way 29,700 SF Industrial Building Nampa, ID 83687 $10,804,421 CAD ($363.79 CAD/SF) 5.74% 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
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.
SALE FLYER
PROPERTY FACTS
| Price | $10,804,421 CAD | Rentable Building Area | 29,700 SF |
| Price Per SF | $363.79 CAD | No. Stories | 1 |
| Sale Type | Investment NNN | Year Built | 2023 |
| Cap Rate | 5.74% | Tenancy | Single |
| Sale Condition | 1031 Exchange | Parking Ratio | 0.84/1,000 SF |
| Property Type | Industrial | Clear Ceiling Height | 26’ |
| Building Class | A | No. Drive In / Grade-Level Doors | 8 |
| Lot Size | 3.11 AC | ||
| Zoning | I-L - Light Manufacturing, Assembly, Fabrication, Distribution & Storage, and Technology-Related Uses | ||
| Price | $10,804,421 CAD |
| Price Per SF | $363.79 CAD |
| Sale Type | Investment NNN |
| Cap Rate | 5.74% |
| Sale Condition | 1031 Exchange |
| Property Type | Industrial |
| Building Class | A |
| Lot Size | 3.11 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, and Technology-Related Uses |
AMENITIES
- Fenced Lot
- Mezzanine
UTILITIES
- Lighting
- Gas - Natural
- Water - City
- Sewer - City
- Heating - Gas
ABOUT NAMPA
Nampa is Idaho’s third largest city, trailing only neighboring Boise and Meridian to the east. The community has benefited from the outsized population gains that have inundated the Treasure Valley in recent years.
Major corridors include the Second Street and Nampa-Caldwell Boulevard couplet, which funnels traffic into the downtown core and connects to Caldwell further north. Garrity Boulevard and Northside Boulevard provide two of the major connections to Interstate 84. One of Nampa’s largest commercial clusters is developed around Exit 38 and Garrity Boulevard, with Nampa Gateway Center, Saint Alphonsus Medical Center, several auto malls, and the Ford Idaho Center all located within a one-mile stretch.
Growth in Nampa is visible across multiple sectors, but industrial developers have been particularly active. Examples include the Northside Logistics Center, which will deliver around 600,000 square feet of industrial space when all phases are completed by LDK Ventures. A relatively resilient economy gives developers like LDK the confidence to continue bringing product to the market. Nampa is also home to an important rail terminal location for Union Pacific, which serves as a hub for branch line activities and a crew change point.
In addition, local semiconductor giant Micron recently announcement that it will build a large fab facility off Interstate 84 on the southwest side of Boise. The $15 billion project will create thousands of jobs over the next decade, as well as ample opportunity for support facilities throughout the region.
Once considered a local market with smaller players, bigger investment entities with broader access to capital are beginning to gravitate to the region. The growth and bolstered synergy has brought more buyers to the region who are in search of value and potentially higher returns.
DEMOGRAPHICS
REGIONAL ACCESSIBILITY
NEARBY AMENITIES
RESTAURANTS |
|||
|---|---|---|---|
| Starbucks | Cafe | $ | 10 min walk |
| Wienerschnitzel | - | - | 13 min walk |
RETAIL |
||
|---|---|---|
| Jackson's Food Stores | Convenience Market | 13 min walk |
HOTELS |
|
|---|---|
| Best Western Plus |
82 rooms
4 min drive
|
| Fairfield Inn |
88 rooms
6 min drive
|
| Holiday Inn |
85 rooms
6 min drive
|
| Hampton by Hilton |
101 rooms
9 min drive
|
PROPERTY TAXES
| Parcel Number | 13034115 0 | Improvements Assessment | $6,554,004 CAD |
| Land Assessment | $1,293,346 CAD | Total Assessment | $7,847,350 CAD |
PROPERTY TAXES
Presented by
AgEquity LLC
A+ Tenant NNN Leased Investment | 489 N Broadmore Way
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