99 Maryland Ave W
Saint Paul, MN 55117
Rice & Maryland Center · Retail Property For Sale

Favorable Location - The Property is well-located and easily accessible, with multiple points of access along Rice Street and Maryland Avenue West. The intersection of Maryland Avenue and Rice Street experiences an average traffic volume in excess of 30,000 vehicles per day. Additionally, the Property is located approximately ten miles east of downtown Minneapolis and four miles northwest of St. Paul. Strong, Long-Term Tenancy - Double Dragon Foods has occupied its premises since September 2001 while Reborn Liquor has occupied its premises since January 1985. Dollar Tree is a more recent tenant with an expiration through January 2023 and retains three, five-year renewal options. Advantageous Demographics - The surrounding demographics strongly support the retail base, with a population within a one and three mile radius of 23,083 and 163,506 residents, respectively. The population is expected to grow 4.85% through 2022. Additionally, the average household income within a five mile radius is $70,921, well above the national average. This indicates a healthy economy and residents with disposable income. Easily Accessible Location -  The Property is located approximately 1.5 miles north of a confluence of regional highways, including Interstate 94 and Interstate 35E. These highways provide the Property with regional access through major north-south and east-west arterials. Strength of Submarket - The Building is located within the Rosedale retail submarket, which is the second largest submarket within the Greater Minneapolis retail market. The Rosedale submarket has a current vacancy rate of 2.8%, and has remained steadily under the 3.0% vacancy rate since the fourth quarter 2015. Additionally, the submarket’s current quoted rental rates are $14.29 PSF, creating an opportunity to lease or renew spaces at a higher market rate once they come to term.