Industrial Mixed-Use Property with
2948 Rice St, Little Canada, MN 55113
For Sale
Contact for pricing
Office and warehouse areas are complemented by heavy power and a drive-in door.
Property Size12,000 SF
Price / SF$102.08
Days on Market14
Property Features for 2948 Rice St
General Information
Standard status
Size
Property subtype
Zoning
Warehouse & Industrial
Drive-In Doors
Heavy Power
Additional Details
Highway Access
Property Use
Listing Agency:
Coldwell Banker Realty
Listed By:
Allan Zolin · License #40697803
(651) 341-8196
Source:
Crexi
Added: Oct 27
Changed: Nov 8
Last Checked: Nov 8 at 5:34PM
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 Coldwell Banker Realty
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Investment Insights
Based on property information with market context.
This 12,000-square-foot mixed-use property combines flex and warehouse areas with offices on the main and second floors. Features include heavy power, a drive-in door, an exterior dock, and a large yard and parking lot. The property is zoned 480 IND Warehouse.
At 2948 Rice St in Little Canada, the site is just south of the I-694 and I-35E corridor.
At 2948 Rice St in Little Canada, the site is just south of the I-694 and I-35E corridor.
Key Highlights
- 12,000 square feet of industrial space
- Main- and second‑floor offices alongside flex and warehouse areas
- Zoned 480 IND Warehouse
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$37,740
Cap Rate
3.08%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$754,800
$754.8K
Cap Rate 7%
$539,143
$539.1K
Cap Rate 9%
$419,333
$419.3K
Market Conditions
NOI Build-Up for 12,000 SF
Gross rent
$60.5K $5.04/SF
− Vacancy
−$2.4K −$0.20/SF
EGI
$58.1K $4.84/SF
− OpEx
−$20.3K −$1.69/SF
NOI
$37.7K $3.14/SF
Area
Ramsey County, MN
Vacancy
4.00%
Lease Rate
$5.04 /SF/Yr
Expense Ratio
35.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$754,800
Cap Rate 7%
$539,143
Cap Rate 9%
$419,333
Alternative Uses
Best Use
Warehouse
$2.26M
$1.98M – $2.64M
NOI $158,300 @ 7.0% cap · market cap 12.92%
Second Best
Mixed Use
$1.94M
$1.70M – $2.27M
NOI $136,013 @ 7.0% cap · market cap 11.10%
Theoretical Best
Office A
$2.86M
$2.51M – $3.34M
NOI $200,407 @ 7.0% cap · market cap 16.36%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Lease Details
1
Drive-in doors
Yes
Heavy power
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
512
Businesses Nearby
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Business Placement
Demographics for 55113, MN
41,699
Population
19,075
Households
2.2
Avg Household Size
40
Median Age
55%
College-Educated
95%
High-School Grad
14.8 sq mi
ZIP Area
2,818
Density / Sq Mi
$86,830
Median Household Income
$49,820
Median Earnings
$1,353
Median Rent
$331,200
Median Home Value
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Market
Properties on Market for Mixed-use properties in Ramsey County
Vacancy Rate% for Industrial in Midwest region
Frequently Asked Questions
What type of property is this?
Mixed-use property - Office and warehouse areas are complemented by heavy power and a drive-in door.
Where is this mixed-use property located?
The property is located at 2948 Rice St Little Canada, MN.
What is the asking price?
The asking price for this property is $1,225,000.
What are key features of this property?
This property features: 12,000 square feet of industrial space; Main- and second‑floor offices alongside flex and warehouse areas; Zoned 480 IND Warehouse
