3930 W State St, Boise, ID 83703

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.

Strategically positioned along W State Street (33,628 VPD), one of Boise’s primary arterial corridors, the property benefits from strong visibility, excellent access, and a close-in location just 2.2 miles from Downtown Boise. The site is supported by dense surrounding neighborhoods including the North End and Garden City, with strong household incomes and population growth within a 1-, 3-, and 5-mile radius. Backed by the strength of the Boise MSA—home to approximately 845,000 residents, a diversified economy, and consistent retail demand—this asset represents a stabilized, credit-backed net lease investment in one of the Pacific Northwest’s most desirable and growth-oriented markets.