120 S Rum River Drive, Princeton, MN 55371

$1,800,000

Property Description

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 the heart of Princeton’s central business district. Building consists of approximately 43,000 total square feet. There is an excellent mix of 14 national, regional and local tenants occupying space in the building. Diverse blend of tenants, consisting of Napa Auto Parts, H&R Block, Centracare, Domino’s, and many more. Property is currently approximately 75% occupied. There is a vacant section of the building (approx. 9,500 SF) that the seller recently had plans drawn up to split up the space and lease to smaller tenants. Excellent value add opportunity to purchase this property at very low price per square foot ($41/SF), add capital for property enhancements, and increase leasing efforts to improve occupancy and boost property performance/net operating income.

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Listing courtesy of Coldwell Banker Commercial.

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