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    Property profile & analytics

    245 Main St E Rice, MN 56367

    • Commercial real estate
    • 2,000 SF
    • 0.39 lot acres
    For Sale
    View listing
    $275,000
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US46-1386774
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • Rice Fire Department / Fire Station
    • Arnies Log & Lawn / Hardware & Home Improvement / Landscaping

    Property Details for 245 Main St E

    Year built
    1950
    Lot size
    0.39 lot acres
    Property size
    2,000 SF
    Property type
    Commercial real estate

    Description

    This exceptional 2,000 square foot commercial property, located at 245 Main Street East in Rice, Minnesota, presents a unique investment opportunity. Situated on a 0.39-acre lot, this versatile space boasts high visibility due to its proximity to Highway 10, just north of St. Cloud. The property has a long and successful history as a small engine repair and power equipment business, demonstrating its suitability for a variety of uses. The building's existing infrastructure could easily accommodate a continuation of this type of business, or it could be adapted to suit a range of other retail or light industrial operations. The strategic location offers excellent access to a substantial customer base, benefiting from the high traffic volume on Highway 10. This presents a rare chance to acquire a well-established commercial property in a thriving area with significant growth potential. The asking price is $275,000. Serious inquiries are encouraged to explore the possibilities this property offers. The property's established history and prime location make it an attractive investment for both seasoned entrepreneurs and new business owners seeking a ready-made space with excellent visibility and accessibility. The ample space and versatile layout provide flexibility for a variety of business ventures. Don't miss this chance to own a piece of Rice's commercial landscape.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Rice
    County
    Benton
    State
    Minnesota
    Longitude
    -94.21674
    Latitude
    45.75394

    Comparable in this City

    • $55,990
      0.35 Acres

      Residential Land in Growing Development

      Residential land with city utilities in up-and-coming Rice, MN.
      960 3Rd Ave SW, Rice, MN 56367
      View Details
    • $59,900
      2.00 Acres

      Residential Lots in Quiet Neighborhood

      Two-acre residential lots near Sauk Rapids/St. Cloud area.
      4 10Th Ave NW, Rice, MN 56367
      View Details
    • $425,000
      Pending

      80 Acres in Benton County

      80-acre parcel with cropland, woods, and wetland near Rice, MN.
      155Th St NE, Rice, MN 56367
      View Details
    • $55,000
      Pending

      Residential Lot in Oak Hill Estates

      Residential lot ready for construction near Oak Hill golf course.
      150 84Th St NE, Rice, MN 56367
      View Details
    • $999,900
      70.00 Acres

      Residential Development Land Opportunity

      70 acres of prime residential development land in Sauk Rapids.
      Tbd Golden Spike Rd, Sauk Rapids, MN 56367
      View Details
    • $275,000
      4,256 SF

      Retail/Light Industrial Space Available

      High-visibility retail/light industrial space near Hwy 10.
      245 Main St E, Rice, MN 56367
      View Details

    Similar Nearby for Sale

    • $55,990
      0.35 Acres

      Residential Land in Growing Development

      Residential land with city utilities in up-and-coming Rice, MN.
      960 3Rd Ave SW, Rice, MN 56367
      View Details
    • $59,900
      2.00 Acres

      Residential Lots in Quiet Neighborhood

      Two-acre residential lots near Sauk Rapids/St. Cloud area.
      4 10Th Ave NW, Rice, MN 56367
      View Details
    • $425,000
      Pending

      80 Acres in Benton County

      80-acre parcel with cropland, woods, and wetland near Rice, MN.
      155Th St NE, Rice, MN 56367
      View Details
    • $55,000
      Pending

      Residential Lot in Oak Hill Estates

      Residential lot ready for construction near Oak Hill golf course.
      150 84Th St NE, Rice, MN 56367
      View Details
    • $999,900
      70.00 Acres

      Residential Development Land Opportunity

      70 acres of prime residential development land in Sauk Rapids.
      Tbd Golden Spike Rd, Sauk Rapids, MN 56367
      View Details
    • $275,000
      4,256 SF

      Retail/Light Industrial Space Available

      High-visibility retail/light industrial space near Hwy 10.
      245 Main St E, Rice, MN 56367
      View Details
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    245 Main St E
    Rice, MN 56367
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    Realmo Value Estimations

    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.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    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.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    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
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