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Virtual Drive-By

Dick's Sporting Goods NN

131 N Milwaukee St · Boise, ID 83704 · Specialty Retail

Asking price
$8,950,000
Cap rate
6.36%
NOI
$568,817

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Lease

Lease typeNN
Term remaining—
Expiration01/2031
Rent bumpsMinimum rent stepping from $13.50/SF today to $15.00/SF by the final option period
OptionsThree additional five-year options remaining through 2046
Ground lease—
Credit profileCredit Rated
TenancySingle

Planning a 1031 Exchange

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Property

Building SF44,283
Price / SF$202
Year built1989
Lot size4.11 ac
TypeShopping Center, Street Retail
Days on market31

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Investment highlights

  • ​Priced at $8,950,000 - a 6.36% going-in cap rate on current in-place NN rent of $597,821 ($13.50/SF), or $202/SF
  • ​100% leased to Dick's Sporting Goods, Inc., a publicly traded corporation with more than 850 locations nationally.
  • ​Tenant recently exercised its first five-year renewal option, extending the lease term through January 31, 2031, with three additional five-year options remaining through 2046.
  • ​Contractual rent increases provide future income growth, with minimum rent stepping from $13.50/SF today to $15.00/SF by the final option period.
  • ​44,283 SF single-tenant retail building on 4.11 acres, renovated in 2014 to Dick's Sporting Goods.
  • ​Adjacent to Boise Towne Square and surrounded by major traffic-driving retailers and restaurants including In-N-Out Burger, Chick-fil-A, Cabela's, Target, Kohl's, and Nordstrom Rack.

Property overview

131 North Milwaukee Street is a 44,283-square-foot single-tenant retail building on a 4.11-acre (179,118 SF) parcel in the heart of West Boise's primary retail corridor.​ The mid-box improvement was originally constructed in 1989 and fully renovated in 2014 to Dick's Sporting Goods' prototype.​ It is a single-story building in good condition, 100% occupied by Dick's Sporting Goods (Store #1202).​

The site offers approximately 293 feet of frontage along Milwaukee Street, a north/south arterial carrying roughly 22,000 vehicles per day, with two travel lanes in each direction and a center turn lane.​ Access is provided by a curb cut on Milwaukee Street together with reciprocal cross-access and parking easements shared with the surrounding Westpark Towne Plaza.​ The level, at-grade parcel is zoned MX-3 (Mixed-Use: Active) by the City of Boise, sits in FEMA Flood Zone X (minimal flood hazard), and is served by all municipal utilities.​ CBRE estimates a remaining economic life of approximately 30 years.​

Single-tenant Dick's Sporting Goods retail building located in West Boise's primary retail corridor adjacent to Boise Towne Square on Milwaukee Street with high traffic counts and strong cross-access connectivity.​

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Asking-market observation aggregated from public listing sources, last observed Sep 25, 2026. Figures are asking price and asking cap rate as published by the listing party, not a verified closed transaction. Lease terms shown where reported by the listing party and not independently verified. Shown for market reference only; this is not an offering. Investment Grade Income Property, LP represents buyers on a cooperating commission basis.