Overview

Description

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 ***

Highlights

• Tax Roll Number: 24-041-0040

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