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29813729
29813730

2128 Rice St, Saint Paul, MN 55113 For Sale

EO
NY NY 10401298466
SURMOUNT
RS
NY 10401309105
SURMOUNT
AH
NY: 10401334976
SURMOUNT
WB
NY 10401399346
SURMOUNT
GK
NY 49KU1129178
SURMOUNT
CM
SURMOUNT
Listed by SURMOUNT
$2,200,003
150 days on market
Updated 86 days ago

Victory Auto

Details
Property Type Retail
Sub Type Auto Shop
Square Footage 9,400
Cap Rate 8%
NOI $176,000
Occupancy 100%
Tenancy Vacant
Brand/Tenant Victory Auto
Lease Type NN
Lease Term 10
Lease Expiration 03/30/2033
Remaining Term 6.7
Price per SqFt $234
Year Built 1986
Acreage 0.710
Lease Commencement 03/21/2023
Ownership Fee Simple

Retail | 8.00% CAP | 9,400 SqFt

Marketing description

Surmount is pleased to present the exclusive multi-tenant listing for Victory Auto located at 2128 Rice Street in Saint Paul, Minnesota. The property consists of approximately 9,400 rentable square feet situated on an estimated 0.71-acre parcel. Victory Auto leased the property under a 10-year double-net (NN) lease that commenced on March 21, 2023. Prime Detailing recently executed a 5-year lease beginning February 1, 2026, while the third tenant is subject to a 2-year base lease term. Victory Auto currently pays $105,478 in rent with scheduled 1.00% annual increases, Prime Detailing pays $39,600 with 3.00% annual increases, and the third tenant has an annual net operating income of $30,922 with a scheduled 3.00% increase in month 13. The combined annual net operating income across all three tenants totals $176,000.

Investment highlights

  • Proximity to Downtown Minneapolis and St Paul | The subject property is located just minutes north of Downtown St. Paul, offering convenient access to the St. Paul / Minneapolis MSA, one of the Twin Cities’ main economic and retail areas. Its close proximity to Downtown St. Paul and the surrounding Twin Cities market supports steady economic activity, strong population density, and ongoing demand for automotive services.

  • Premier Visibility on a Busy Thoroughfare | Situated along Rice Street, a major roadway that runs directly through St Paul, the site captures strong commuter and local traffic while remaining closely connected to the broader consumer base. Rice St sees an average daily traffic count that exceeds 21,500 vehicles every day, largely credited to daily commuters driving in and out of St Paul. Additionally, the site is nearby the 4-Way intersection of Rice St and County Road BE, adding on an additional ~5,350 cars daily.

  • Dense Retail Corridor | Outparcel to a Big-Box Super Market | The subject property is positioned within a dense retail corridor and benefits from its location as an outparcel to Cub-Maplewood West, a popular grocery anchor featuring a full supermarket, pharmacy, and wine and spirits offerings. This daily-needs anchor drives consistent foot traffic to the immediate area. Additionally, the site is surrounded by well-established national tenants including McDonald’s, Walgreens Subway, Arby’s, and Aldi, further assuring the corridor as a retail hotbed and supporting consumer demand.

  • Highly Academic Region | The subject property is located within a highly academic area, with approximately 10 schools situated within a three-mile radius. This concentration of educational institutions drives consistent daily traffic and positions the site as a convenient automotive service option for parents and guardians traveling to and from school drop-offs and pick-ups, supporting recurring demand throughout the week.

Listing Contacts

EO
NY NY 10401298466
SURMOUNT
RS
NY 10401309105
SURMOUNT
AH
NY: 10401334976
SURMOUNT
WB
NY 10401399346
SURMOUNT
GK
NY 49KU1129178
SURMOUNT
CM
SURMOUNT
Listed by SURMOUNT

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Loan Amount
$0.00
Annual Debt Service
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Annual Cash Flow
$176,000.00
$14,666.67/mo

Valuation Metrics

0
DSCR
8%
Cap Rate
8%
ROI

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Additional Information

Name
Brian Brockman
License
40628602
Brokerage
Bang Realty, Inc
Title
Broker of Record
*All information is deemed reliable but not guaranteed. Buyer to verify all information.
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