43,000+/- Sq Ft Multi-Tenant Strip Center | Princeton, MN

CBC Orion Real Estate Advisors is pleased to offer for sale Princeton Mall, a neighborhood strip center in the heart of Princeton central business district. High traffic location on Rum River Drive, the primary thoroughfare running between Highways 95 and 169. Princeton is approximately 30 miles east of Saint Cloud and 45 miles northwest of Minneapolis. Population within 5 Mile radius is over 13,000 people with average household income of $84,505. 

Building consists of approximately 43,000 total square feet. There is a diverse mix of 19 tenants, and a blend of national, regional and local tenants occupying space in the building. Tenants consisting of Napa Auto Parts, H&R Block, Centracare, Domino’s, and many more.

Property is currently approximately 90% occupied. Current owners have invested over $700,000 over the past 12 months! Recent major improvements consisting of new roof (2023) and complete renovation/buildout of approx. 12,000 SF of North section of the building. There are currently 3 move in ready suites available for lease which are expected to be rented soon.

Excellent opportunity to purchase this stabilized property at a very low basis/price per square foot ($58/SF). Additionally, there is a value-add component of raising any below market rents and increasing leasing efforts to improve occupancy and boost property performance/net operating income.

 

                            *** Offered For Sale at $2,195,000 | Possible Terms Available ***

 

*** Contact Scott Schmitt, CCIM at CBC Orion Real Estate Advisors for further details on this offering (320) 267-4576 ***

More details: 

Highlights:

  • Over $700,000 invested in the property over the past 12 months!
  • New Roof (2023) and Complete Renovation/Buildout of approx. 12,000 SF of North Section of Bldg.             
  • Low Basis/Price Per Square Foot ($58/SF) 
  • Diverse Blend of 19 Tenants, consisting of Napa Auto Parts, Centracare, Domino’s Pizza, H&R Block and many more 
  • Excellent 1031 Exchange Replacement Opportunity
Address: 
120 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, Domino’s, and many more.
Traffic Counts: 
13,000 VPD
Price: 
$2,195,000