RICE STREET SHOPPES

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

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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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Drive Thru

Patio S

pace

Ric

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3,90

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County Rd B E

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1,09

6 SF

AVA

ILAB

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1,525

SF A

VAIL

ABLE

2 , 6 1 2 S F C O M B I N E D

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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 :