131 N Milwaukee St, Boise, ID 83704
Renovated single-story Dick's Sporting Goods prototype with long-term lease coverage on a major retail corridor site.
- Added:
- Jun 29, 2026
- Days on Market:
- 8
- Last Refresh:
- Jul 2 at 1:33 am
Property Features for 131 N Milwaukee St
General Information
- Standard status
- Active
- Size
- 44,283 SF
- Lot size
- 4.11 Acres
- Property subtype
- Retail
Building Details
- Year Built
- 1989
Listing office TOK Commercial (208) 947-0852
Listing date Jun 29, 2026
Source Tokcommercial
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All listing content including descriptions, pricing, images are the copyrighted material of TOK Commercial
HighLights
- 44,283‑SF single‑tenant retail building on a 4.11‑acre (179,118 SF) parcel
- Originally built in 1989 and fully renovated in 2014 to Dick’s Sporting Goods prototype
- Currently 100% occupied by Dick’s Sporting Goods (Store #1202)
- Lease renewal: extends through Jan 31, 2031, with three additional five‑year options through 2046
- In‑place NNN rent of $597,821 ($13.50/SF); minimum rent steps to $15.00/SF by the final option period
- 6.36% going‑in cap rate based on current in‑place NNN rent
Overview
The property is positioned near Boise Towne Square and is surrounded by major traffic-driving retailers and restaurants, including In-N-Out Burger, Chick-fil-A, Cabela’s, Target, Kohl’s, and Nordstrom Rack. This setting provides established retail adjacency and a strong daytime draw for shopping traffic.
For buyers or operators seeking a stabilized single-tenant structure, the lease is held by Dick’s Sporting Goods as a publicly traded corporation with more than 850 locations nationally. The 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 include minimum rent stepping from $13.50/SF today to $15.00/SF by the final option period.
Local Financial Insights For Retail
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $839.6k | $18.96 |
| − Vacancy | −$37.8k | −$0.85 |
| EGI | $801.8k | $18.11 |
| − OpEx | −$240.5k | −$5.43 |
| NOI | $561.3k | $12.67 |
Alternative Uses
Current Use by Public Records
Location Insight
- Map
- Local Demand
- City
- Boise
- County
- Ada
- State
- Idaho
- Longitude
- -116.2834005
- Latitude
- 43.6062354
