43,000+/- Sq Ft Strip Center – Value Add Investment Opportunity

CBC Orion is pleased to offer for sale, “Princeton Mall”, a multi-tenant strip center in Princeton, MN. High traffic location on Rum River Drive, the primary thoroughfare running between Highways 95 and 169. Great location in heart of Princeton’s central business district. There is a mix of 13 local, regional and national tenants occupying space in the building. Diverse blend of tenants, consisting of Napa Auto Parts, H&R Block, Centracare Kidney Center, Domino’s, Coffee Corner, and more. Property has been same family owned since originally being developed in 1981. Ownership looking towards retirement.

Opportunity to purchase at very low price per square foot ($23/SF), potentially add capital for property enhancements, and increase leasing efforts to improve occupancy and boost property performance. Considerable upside potential for value add investor.

Special Features: 
 
  • Great Location on Primary Thoroughfare
  • Diverse Blend of Tenants
  • 5 Mile Population approx. 94,000 with average household income of $79,000
  • 150 +/- parking stalls city owned and maintained directly in front of building
  • Value Add Property with Considerable Upside Potential
Address: 
114 South Rum River Drive, Princeton MN
County: 
Mille Lacs
Parcel #: 
24-041-0040
Size of Building: 
43,000 Sq Ft
Age: 
Built in 1981
Tenant Mix: 
Diverse blend of tenants, consisting of Napa Auto Parts, H&R Block, Centracare Kidney Center, Domino’s, Coffee Corner, and more.
Traffic Counts: 
12,500 VPD
Price: 
Offered for Sale at $995,000 | Cash or Possible Terms Available | SALE PENDING
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