Auto Repair Facility with
501 Rice Street N Jordan, MN 55352
501 Rice Street N, Jordan, MN, 55352
$575,000
For Sale
$575,000
Steel-framed auto repair building includes a drive-in garage door and a large open work area.
Property Size4,200 SF
Price / SF$136.90
Days on Market15
Property Features for 501 Rice Street N
General Information
- Standard status
- Active
- Size
- 4,200 SF
- Property subtype
- Commercial
Building Details
- Year Built
- 1945
Listing agency
Coldwell Banker Realty
(612) 600-9201
Listed by
Marcus Johannes
(612) 600-9201
Source
Juverealestate
Added: Jul 8 Updated: Jul 21 at 6:14PM Checked: Jul 22 at 6:57AM
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
Investment Insights
Based on property information with market context.
This steel-framed auto repair facility is currently operated as an automotive service business and offers a functional interior layout. The building includes a welcoming lobby, a separate office, and a large open work area with an 11' height by 12' wide drive-in garage door. A powder bath is provided, along with a peak height of 22'. A newer water heater is included.
The property also comes with a fully fenced, paved parking lot of about 0.14 acres, with capacity for approximately 30 cars. Convenient access to freeway routes is noted in the listing.
The combination of the drive-in bay and sizable open work area supports day-to-day repair operations, with parking on site to support customer and staff needs.
The property also comes with a fully fenced, paved parking lot of about 0.14 acres, with capacity for approximately 30 cars. Convenient access to freeway routes is noted in the listing.
The combination of the drive-in bay and sizable open work area supports day-to-day repair operations, with parking on site to support customer and staff needs.
Key Highlights
- Steel‑framed auto repair building (built in 1945) with a large open work area
- Drive‑in garage door is 11' high x 12' wide and provides appx. 10‑car capacity
- Layout includes a welcoming lobby, separate office, large open work area, and a powder bath
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 | $79.6k | $18.96 |
| − Vacancy | −$5.7k | −$1.37 |
| EGI | $73.9k | $17.59 |
| − OpEx | −$22.2k | −$5.28 |
| NOI | $51.7k | $12.32 |
4,200 SF · lease $18.96/SF/yr · vacancy 7.20% · expense 30.00%
Alternative Uses
Best Use
Retail
$739.0K
$646.6K – $862.2K
NOI $51,729 @ 7.0% cap · market cap 9.00%
Second Best
Industrial
$651.8K
$570.4K – $760.5K
NOI $45,628 @ 7.0% cap · market cap 7.94%
Theoretical Best
Office A
$1.00M
$876.8K – $1.17M
NOI $70,142 @ 7.0% cap · market cap 12.20%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Steve's Auto Repair
Auto Repair Shop
Similar For Sale Nearby
Similar Off Market Nearby
- J & S Towing — 520 Broadway St S, Jordan, MN 55352
- JPS Autoworks — 520 Broadway St S, Jordan, MN 55352
- Jordan Car Care — 201 Water St, Jordan, MN 55352
- J&R Auto Body — 311 Water St, Jordan, MN 55352
- Jordan Windshield Replacement & Repair — 700 seville dr, jordan, mn 55352
FAQs
What type of property is this?
Auto shop - Steel-framed auto repair building includes a drive-in garage door and a large open work area.
Where is this auto shop located?
The property is located at 501 Rice Street N Jordan, MN.
What is the asking price?
The asking price for this property is $575,000.
What are key features of this property?
This property features: Steel‑framed auto repair building (built in 1945) with a large open work area; Drive‑in garage door is 11' high x 12' wide and provides appx. 10‑car capacity; Layout includes a welcoming lobby, separate office, large open work area, and a powder bath
