Retail Property on Rice
For Sale
Contact for pricing
1566 Rice St, MN
Retail property available for sale with 5363 square feet.
Property Size5,363 SF
Lot Size0.76 Acres
Price / SF$289.02
Days on Market401
Property Features for 1566 Rice St
General Information
Standard status
Active
Size
5,363 SF
Lot size
0.76 Acres
Property subtype
RETAIL
Listing Agency:
Transwestern
(651) 324-7239
Listed By:
Ian Thompson
(651) 324-7239
Source:
Moodyscre
Added: Jul 17, 2025
Changed: Aug 8
Last Checked: Aug 20 at 9:59AM
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 Transwestern
Investment Insights
Based on property information with market context.
This retail property offers 5363 square feet of space and is located on Rice Street in St Paul, MN.
Key Highlights
- Retail property available for sale.
- 5363 square feet of space.**
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
$58,980
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
3.81%
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%
$1,179,600
$1.2M
Cap Rate 7%
$842,571
$842.6K
Cap Rate 9%
$655,333
$655.3K
Market Conditions
NOI Build-Up for 5,363 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
$91.4K $17.04/SF
− Vacancy
−$7.1K −$1.33/SF
EGI
$84.3K $15.71/SF
− OpEx
−$25.3K −$4.71/SF
NOI
$59.0K $11.00/SF
Area
MN
Vacancy
7.80%
Lease Rate
$17.04 /SF/Yr
Expense Ratio
30.00%
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%
$1,179,600
Cap Rate 7%
$842,571
Cap Rate 9%
$655,333
Alternative Uses
Best Use
Retail
$842.6K
$737.3K – $983.0K
NOI $58,980 @ 7.0% cap · market cap 3.81%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.33M
$1.17M – $1.55M
NOI $93,288 @ 7.0% cap · market cap 6.02%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
473
Businesses Nearby
101k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Dining 67%
Shops & Services 33%
McDonald's
Dining
20,029 visits/mo
0.0 miles
Holiday Station Store
Shops & Services
18,209 visits/mo
0.2 miles
Taco Bell
Dining
14,820 visits/mo
0.3 miles
Burger King
Dining
10,827 visits/mo
0.3 miles
Popeyes Louisiana Kitchen
Dining
9,288 visits/mo
0.2 miles
Market
Vacancy Rate% for Retail in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Retail property - Retail property available for sale with 5363 square feet.
Where is this retail property located?
The property is located at 1566 Rice St MN.
What is the asking price?
The asking price for this property is $1,550,000.
What are key features of this property?
This property features: Retail property available for sale.; 5363 square feet of space.**
