Retail Property with Established
For Sale
Contact for pricing
945 Rice St, MN
Retail property featuring four tenants and ample parking.
Property Size14,456 SF
Lot Size1.13 Acres
Price / SF$197.15
Days on Market3061
Property Features for 945 Rice St
General Information
Standard status
Active
Size
14,456 SF
Lot size
1.13 Acres
Property subtype
RETAIL
Listing Agency:
Christopher W Howard
(612) 751-1942
Listed By:
Chris Howard
Source:
Moodyscre
Added: Mar 14, 2018
Changed: Jul 6
Last Checked: Jul 21 at 6:41AM
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
Investment Insights
Based on property information with market context.
This retail property, constructed in 1989, features upgraded mechanical systems and a roof that were updated in 2012. The building has a footprint of 14,400 square feet and a rentable area of 13,620 square feet. The property is situated on a lot of 47,900 square feet and includes 58 parking spaces. It currently houses four tenants: a liquor store, a restaurant, a Subway, and a grocery store. The property is zoned for retail use and is located in St Paul, MN.
Key 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).
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 |
14,456 SF · lease $18.00/SF/yr · vacancy 6.50% · expense 25.00%
Alternative Uses
Best Use
Specialty Retail
$2.61M
$2.28M – $3.04M
NOI $182,471 @ 7.0% cap · market cap 6.40%
Second Best
Retail
$2.27M
$1.99M – $2.65M
NOI $158,982 @ 7.0% cap · market cap 5.58%
Theoretical Best
Office A
$3.59M
$3.14M – $4.19M
NOI $251,458 @ 7.0% cap · market cap 8.82%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
150
Businesses Nearby
22k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 90%
Dining 10%
Kum & Go
Shops & Services
13,773 visits/mo
0.2 miles
Dollar General
Shops & Services
4,467 visits/mo
0.3 miles
SUBWAY
Dining
2,131 visits/mo
0.2 miles
Cenex
Shops & Services
1,919 visits/mo
0.2 miles
Market
Vacancy Rate% for Retail in Midwest region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Strip mall - Retail property featuring four tenants and ample parking.
Where is this strip mall located?
The property is located at 945 Rice St MN.
What is the asking price?
The asking price for this property is $2,850,000.
What are key features of this property?
This property features: 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).
