Day Care Center with Event
New
For Sale
$1,295,000
1079 Rice Street, Saint Paul, MN 55117
Two-level facility combines licensed adult day care with an event venue, dining area, and commercial kitchen.
Property Size8,000 SF
Price / SF$161.88
Days on Market4
Property Features for 1079 Rice Street
General Information
Standard status
Active
Size
8,000 SF
Total Parking Spaces
26
Property subtype
Commercial
Zoning
B2
Additional Details
Sprinkler System
Yes
Amenities
elevator
water fountains
3 bathrooms
full sound system
commercial kitchen
Building Details
Year Built
1929
Listing Agency:
Smart Choice Realty
Listed By:
The Antonov Group
(612) 445-4981
Source:
Theantonovgroup
Added: Sep 28
Changed: Sep 30
Last Checked: Sep 30 at 12:16PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Smart Choice Realty
Investment Insights
Based on property information with market context.
This 8,000-square-foot, two-level building is used for licensed adult day care and events. The upper-level ballroom and dance floor measure 65 feet by 38 feet and are approved for 158 occupants. The lower-level dining area measures 28 feet by 57 feet and has the same approved capacity, for a stated total building capacity of 316. An 18-by-20-foot stage has sound and lighting systems, with a 15-by-9-foot changing room nearby.
The lower level also contains a 12-by-24-foot commercial kitchen with trade fixtures, a 10-by-13-foot serving area, and 17-by-15-foot kitchen storage. The building has an elevator, water fountains, three bathrooms, and 26 parking stalls, with additional street parking. Zoning is B2 (General Business & Service Commercial). The building dates to 1929; listed improvements since 2016 include a roof, elevator, 50-gallon water heater, fire sprinkler system, electrical work, and an ADA bathroom.
The lower level also contains a 12-by-24-foot commercial kitchen with trade fixtures, a 10-by-13-foot serving area, and 17-by-15-foot kitchen storage. The building has an elevator, water fountains, three bathrooms, and 26 parking stalls, with additional street parking. Zoning is B2 (General Business & Service Commercial). The building dates to 1929; listed improvements since 2016 include a roof, elevator, 50-gallon water heater, fire sprinkler system, electrical work, and an ADA bathroom.
Key Highlights
- 8,000‑square‑foot building used for licensed adult day care and events
- Two‑level venue with stated total capacity of 316
- Upper‑level ballroom and dance floor: 65 ft X 38 ft; approved for 158 capacities
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$90,676
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
7.00%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,813,520
$1.8M
Cap Rate 7%
$1,295,371
$1.3M
Cap Rate 9%
$1,007,511
$1.0M
Market Conditions
NOI Build-Up for 8,000 SF
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.
Gross rent
$186.2K $23.28/SF
− Vacancy
−$41.2K −$5.14/SF
EGI
$145.1K $18.14/SF
− OpEx
−$54.4K −$6.80/SF
NOI
$90.7K $11.33/SF
Area
Ramsey County, MN
Vacancy
22.10%
Lease Rate
$23.28 /SF/Yr
Expense Ratio
37.50%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,813,520
Cap Rate 7%
$1,295,371
Cap Rate 9%
$1,007,511
Alternative Uses
Best Use
Mixed Use
$1.30M
$1.13M – $1.51M
NOI $90,676 @ 7.0% cap · market cap 7.00%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.91M
$1.67M – $2.23M
NOI $133,604 @ 7.0% cap · market cap 10.32%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
Yes
Sprinkler system
Location Intelligence
Trade Area within ½ mile
528
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 55117, MN
44,525
Population
17,784
Households
2.5
Avg Household Size
34
Median Age
33%
College-Educated
87%
High-School Grad
9.2 sq mi
ZIP Area
4,840
Density / Sq Mi
$71,784
Median Household Income
$43,366
Median Earnings
$1,178
Median Rent
$262,700
Median Home Value
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Frequently Asked Questions
What type of property is this?
Day care center - Two-level facility combines licensed adult day care with an event venue, dining area, and commercial kitchen.
Where is this day care center located?
The property is located at 1079 Rice Street Saint Paul, MN.
What is the asking price?
The asking price for this property is $1,295,000.
What are key features of this property?
This property features: 8,000‑square‑foot building used for licensed adult day care and events; Two‑level venue with stated total capacity of 316; Upper‑level ballroom and dance floor: 65 ft X 38 ft; approved for 158 capacities
