945 Rice St, St Paul, MN
Retail property featuring four tenants and ample parking.
- Added:
- Mar 14, 2018
- Days on Market:
- 3013
- Last Refresh:
- May 20 at 8:02 pm
Property Features for 945 Rice St
General Information
- Standard status
- Active
- Size
- 14,456 SF
- Lot size
- 1.13 Acres
- Property subtype
- RETAIL
Listing agent Chris Howard
Listing office Christopher W Howard (612) 751-1942
Listing date Mar 14, 2018
Source Moodyscre
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 Christopher W Howard
HighLights
- Four established tenants provide immediate income: Liquor, Restaurant, SUBWAY & Grocery.
- Upgraded mechanicals and roof (2012) reduce potential maintenance costs.
- Substantial 47,900 SF lot with ample parking (58 spaces).
- Building size: 13,620 SF rentable area.
- Located in an area with market rental rates of $12-$14.00/SF (NNN).
- Two PID numbers offer potential for flexible management.
Overview
Local Financial Insights For Specialty 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 | $260.2k | $18.00 |
| − Vacancy | −$16.9k | −$1.17 |
| EGI | $243.3k | $16.83 |
| − OpEx | −$60.8k | −$4.21 |
| NOI | $182.5k | $12.62 |
Alternative Uses
Current Use by Public Records
Location Insight
- Map
- Local Demand
- City
- St Paul
- County
- Dakota
- State
- Minnesota
