Maplewood, MinnesotaRICE STREET SHOPPES
AVA IL A BL E F OR S A L E
RICE STREET (23 ,900 VPD)
R ICE STREET (23 ,900 VPD)COUNTY ROAD B E (5 ,300 VPD)
COUNTY ROAD B E (5 ,300 VPD)
H A R A M B E E E L E M E N TA RYH A R A M B E E E L E M E N TA RY
S I T ES I T E
RICE STREET SHOPPES
SITE
DET
AILSarea retailers
listing summary
L I ST P R I C E : $1,995,000
B U I L D I N G S I Z E : 6,158 SF
AS - I S N O I : $40,742
Y E A R B U I LT : 2017
AC R E S : 0.73
P I D : 18-29-22-22-0019
ZO N I N G : BC – Business Commercial
B U I L D I N G S : One
STO R I E S : One
E X T E R I O R WA L L S : Brick / Block
RO O F :Carlisle Rhino Bond TPO Roof System with Metal Deck Installed in 2017
C U R R E N T O C C U PA N CY : 57%
N
INVESTMENT OPPORTUNITY
VA L U E A D DThe property is currently 57% leased to two tenants, Jet’s Pizza, a franchised pizza chain, and La Delicious Bread, a local well known French bakery. The remaining two bays provide a buyer significant upside for their own use or through lease up as one or two bays. Additionally, the potential exists to relocate the bakery for a new user which would make use of the existing drive-thru lane & infrastructure.
D E N S E T R A D E A R E AThe property is located in a very dense trade area, with 107,000 residents and 72,000 employees within a three-mile radius. This density, on top of its location at a traffic funnel to access this density, create a strong retail location which should attract and retain future tenants.
R E C E N T C O N S T R U C T I O N The property was constructed in 2017 with high quality architecture and materials. The lead tenant, Tim Horton’s, vacated the market entirely shortly after opening, leaving a great build out in place for a new tenant. The property boasts first-class design, construction, and maintenance since being built, requiring limited short term capital expenses. Notably given the rise in construction costs, this property can be acquired under replacement cost given its location and materials.
G R O C E R Y A N C H O R E DThe property sits in front of a Cub Foods grocery store, which is the dominant grocery chain in the Minneapolis-St. Paul market. This location and anchor drive daily traffic to the site, attracting and supporting current and future retail users on site.
V I S IB IL I T YThe property is very well positioned along Highway 36 and Rice Street, offering great visibility and signage to the high traffic volumes of a combined 100,000 vehicles per day. This prominent visibility and signage is difficult to replicate and should be attractive to many tenants & users seeking billboard signage.
RICE STREET SHOPPES
MARK
ET A
ERIA
L
RICE STREET (23 ,900 VPD)
R ICE STREET (23 ,900 VPD)
H I G H WAY 3 6 ( 76 , 0 0 0 V P D )H I G H WAY 3 6 ( 76 , 0 0 0 V P D )
PA R K & R I D EPA R K & R I D E
N S I T ES I T E
C O U N T Y ROA D B E ( 5 , 3 0 0 V P D )
C O U N T Y ROA D B E ( 5 , 3 0 0 V P D )
RICE STREET SHOPPES
SITE
PLA
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Mec
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Roo
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Drive Thru
Patio S
pace
Ric
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tree
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3,90
0 V
PD
County Rd B E
Pylon
Driv
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1,09
6 SF
AVA
ILAB
LE
1,525
SF A
VAIL
ABLE
2 , 6 1 2 S F C O M B I N E D
N
5353 Wayzayta Blvd, Suite 650Minneapolis, Minnesota 55416952.563.6600MidAmericaGrp.com
CONT
ACT
The information contained herein has either been given to us by the owner of the property or obtained from sources that we deem reliable. We have no reason to doubt its accuracy but we do not guarantee it.
RICE STREET SHOPPES
Mark Robinson, CCIMPrincipal | Investment SalesMid-America Real Estate – Minnesota, [email protected]
Bill KrebsbachBrokerMid-America Real Estate – Minnesota, [email protected]
F O R M O R E I N F O R M AT I O N O R TO R E Q U E ST A F U L L O F F E R I N G M E M O R A N D U M , P L E AS E C O N TACT T H E L I ST I N G T E A M :