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Victory Auto 2128 Rice St 9,400 SF 100% Leased Retail Building Saint Paul, MN 55113 $2,200,003 ($234.04/SF) 8% Cap Rate
Investment Highlights
- Proximity to Downtown Minneapolis and St Paul
- Dense Retail Corridor | Outparcel to a Big-Box Super Market
- Premier Visibility on a Busy Thoroughfare
- Highly Academic Region
Executive Summary
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.
Property Facts
Sale Type
Investment
Property Type
Retail
Building Size
9,400 SF
Year Built
1986
Price
$2,200,003
Price Per SF
$234.04
Cap Rate
8%
NOI
$176,000
Percent Leased
100%
Building Height
1 Story
Building FAR
0.30
Lot Size
0.71 AC
Nearby Major Retailers
Property Taxes
| Parcel Number | 18-29-22-22-0011 | Improvements Assessment | $1,131,900 |
| Land Assessment | $247,100 | Total Assessment | $1,379,000 |
Property Taxes
Parcel Number
18-29-22-22-0011
Land Assessment
$247,100
Improvements Assessment
$1,131,900
Total Assessment
$1,379,000
Contacts
-
Edward Otocka -
Ryan Sblendorio -
Amelia Haydock -
Will Byrne -
Glen Kunofsky -
Christopher Marks -
Surmount
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Victory Auto | 2128 Rice St
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