Multi-Tenant Retail NNN
For Sale
Contact for pricing
945 Rice St, Saint Paul, MN 55117
Built in 1989 NNN retail center with 58 parking spaces and four tenants: liquor, restaurant, Subway, and grocery.
Property Size14,456 SF
Lot Size1.10 Acres
Price / SF$197.15
Days on Market3061
Property Features for 945 Rice St
General Information
Standard status
Active
Size
14,456 SF
Total Parking Spaces
58
Lot size
1.10 Acres
Property subtype
RETAIL
Building Details
Year Built
1989
Year Renovated
2012
Tenancy
Multi
Listing Agency:
Christopher W Howard
(612) 751-1942
Listed By:
Chris Howard
Source:
Moodyscre
Added: Mar 14, 2018
Changed: Jul 29
Last Checked: Jul 29 at 5:09AM
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 multi-tenant retail NNN center was built in 1989 and includes upgraded mechanicals with a roof replacement completed in 2012. The property is configured for four tenants, with existing operations including a liquor store, restaurant, Subway, and a grocery use. Building size is listed at 13,620 SF rentable, with a 14,400 SF footprint. The lot area is 47,900 SF and provides 58 parking spaces.
The asset is offered for sale at 945 Rice St, St Paul, MN 55117. It is positioned to serve neighborhood retail needs with on-site parking for customers and employees.
Please note that the liquor store lease will require a 15–20 year extension prior to closing. Market rates are typically described as $12–$14.00/SF on a NNN basis.
The asset is offered for sale at 945 Rice St, St Paul, MN 55117. It is positioned to serve neighborhood retail needs with on-site parking for customers and employees.
Please note that the liquor store lease will require a 15–20 year extension prior to closing. Market rates are typically described as $12–$14.00/SF on a NNN basis.
Key Highlights
- Built in 1989 NNN retail center with approximately 13,620 SF rentable space and 14,400 SF footprint
- Four tenants: liquor store, restaurant, Subway, and grocery
- 58 on‑site parking spaces
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 | $260.2k | $18.00 |
| − Vacancy | −$42.4k | −$2.93 |
| EGI | $217.8k | $15.07 |
| − OpEx | −$65.3k | −$4.52 |
| NOI | $152.5k | $10.55 |
14,456 SF · lease $18.00/SF/yr · vacancy 16.30% · expense 30.00%
Alternative Uses
Best Use
Retail
$2.18M
$1.91M – $2.54M
NOI $152,456 @ 7.0% cap · market cap 5.35%
Second Best
—
—
no second resolved use
Theoretical Best
Healthcare Medical
$3.56M
$3.11M – $4.15M
NOI $249,019 @ 7.0% cap · market cap 8.74%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
472
Businesses Nearby
61k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 65%
Dining 33%
Electronics 2%
McDonald's
Dining
20,029 visits/mo
0.4 miles
Holiday Station Store
Shops & Services
18,209 visits/mo
0.5 miles
Dollar Tree
Shops & Services
12,172 visits/mo
0.4 miles
BP
Shops & Services
4,663 visits/mo
0.1 miles
AutoZone
Shops & Services
3,375 visits/mo
0.3 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
Market
Vacancy Rate% for Retail in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Shopping center - Built in 1989 NNN retail center with 58 parking spaces and four tenants: liquor, restaurant, Subway, and grocery.
Where is this shopping center 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: Built in 1989 NNN retail center with approximately 13,620 SF rentable space and 14,400 SF footprint; Four tenants: liquor store, restaurant, Subway, and grocery; 58 on‑site parking spaces
