Retail Property with Established
For Sale
Contact for pricing
945 Rice St, Saint Paul, MN 55117
Retail property featuring four tenants and ample parking.
Property Size14,456 SF
Lot Size1.13 Acres
Price / SF$197.15
Days on Market3153
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: Oct 25
Last Checked: Oct 28 at 11:56AM
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
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Review the available facts, identify missing information and prepare questions for the agent.
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
Estimated NOI and Cap Rate
NOI / Yr
$174,860
Cap Rate
6.14%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$3,497,200
$3.5M
Cap Rate 7%
$2,498,000
$2.5M
Cap Rate 9%
$1,942,889
$1.9M
Market Conditions
NOI Build-Up for 14,456 SF
Gross rent
$260.2K $18.00/SF
− Vacancy
−$10.4K −$0.72/SF
EGI
$249.8K $17.28/SF
− OpEx
−$74.9K −$5.18/SF
NOI
$174.9K $12.10/SF
Area
Ramsey County, MN
Vacancy
4.00%
Lease Rate
$18.00 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$3,497,200
Cap Rate 7%
$2,498,000
Cap Rate 9%
$1,942,889
Alternative Uses
Best Use
Retail
$2.50M
$2.19M – $2.91M
NOI $174,860 @ 7.0% cap · market cap 6.14%
Second Best
Specialty Retail
$1.82M
$1.60M – $2.13M
NOI $127,663 @ 7.0% cap · market cap 4.48%
Theoretical Best
Office A
$3.45M
$3.02M – $4.02M
NOI $241,423 @ 7.0% cap · market cap 8.47%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
635
Businesses Nearby
4k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 71%
Dining 29%
Advance Auto Parts
Shops & Services
3,148 visits/mo
0.4 miles
SUBWAY
Dining
1,269 visits/mo
0.1 miles
Demographics for 55117, MN
44,525
Population
17,784
Households
2.5
Avg Household Size
34
Median Age
33%
College-Educated
87%
High-School Grad
9.2 sq mi
ZIP Area
4,840
Density / Sq Mi
$71,784
Median Household Income
$43,366
Median Earnings
$1,178
Median Rent
$262,700
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Retail in Midwest region
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 Saint Paul, 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).
