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    245 Main St Rice, MN 56367

    Sponsored
    For Sale
    $275,000

    Two-unit storefront, high visibility, Hwy 10 access.

    Property size:
    4,256 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    392
    This exceptional investment opportunity presents two buildings totaling 4,256 square feet of retail space situated on a 0.39-acre lot at 245 E Main St, Rice, Minnesota 56367. The property, classified as Class D, boasts a 100% occupancy rate, generating a strong return on investment. Built in 1956 and renovated in 1997, the buildings offer a blend of established character and updated features. The asking price is $275,000, translating to $64.61 per square foot. Conveniently located near Highway 10, just north of St. Cloud, this property benefits from high visibility and excellent access for customers. The property has a long history of successful operation as a small engine repair and power equipment sales business, demonstrating its suitability for similar ventures or potential redevelopment. The two units provide flexibility for various business models, making this a versatile and attractive investment prospect in the thriving Rice, Minnesota market. The property's location in Benton County offers a strong foundation for continued growth and profitability. This is a rare chance to acquire a well-established, income-producing retail property in a desirable location.

    Property Features for 245 Main St

    General Information

    Property type
    Individual retail properties
    Square Feet
    4,256 SF
    Class
    D
    Lot Size
    16,988 SF

    Building Details

    Year Built/Renovated
    1956/1997
    Buildings
    2
    Units
    2

    HighLights

    • $275,000 asking price for a retail storefront property.
    • 4,256 square feet on a 0.39‑acre lot in Rice, MN.
    • Two buildings, totaling 4,256 square feet, currently 100% occupied.
    • Class D retail property built in 1956, renovated in 1997.
    • Located at 245 E Main St, Rice, MN 56367, near Hwy 10, north of St. Cloud.
    Property Profile Location Intelligence

    Current Use by Public Records

    Rice Fire Department Fire Station Arnies Log & Lawn Lawn Equipment Rental Service

    Suggested Use

    Restaurant Realty agency Building Supply Spa & Massage Wholesale Shop Hair Salon Auto Repair Shop Clothing Store Nail Salon Hotel & Motel

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Rice
    County
    Benton
    State
    Minnesota
    Longitude
    -94.2169143
    Latitude
    45.7538468

    Nearby Comparable

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      Prime Rice, MN Restaurant Opportunity

      Established Eatery, 4,400 SF, 1.39 Acres
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      Commercial Land Near Highway 10

      3.5+/- acres of commercial land with highway access.
      Tbd Pne Rd NW, Rice, MN 56367
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    • $1,525,000
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      Industrial Property in Rice, MN

      Industrial property ideal for manufacturing, distribution, and warehousing.
      515 Division St N, Rice, MN 56367
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    Nearby Similar for Sale

    • $1,525,000
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      Industrial Property in Rice, MN

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    • $275,000
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      Retail/Light Industrial Space Available

      High-visibility retail/light industrial space near Hwy 10.
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    • $595,000
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      Prime Rice, MN Restaurant Opportunity

      Established Eatery, 4,400 SF, 1.39 Acres
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    FAQs

    What type of property is this?
    Individual retail property - Two-unit storefront, high visibility, Hwy 10 access.
    Where is this individual retail property located?
    The property is located at 245 Main St Rice, MN.
    What is the asking price?
    The asking price for this property is $275,000.
    What are key features of this property?
    This property features: $275,000 asking price for a retail storefront property.; 4,256 square feet on a 0.39-acre lot in Rice, MN.; Two buildings, totaling 4,256 square feet, currently 100% occupied.
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    245 Main St Rice, MN 56367
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