Multi-Tenant Strip Mall - Value Add Opportunity

Princeton, MN (Mille Lacs County)

Multi-Tenant Strip Mall - Value Add Opportunity
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Asking Price: $995,000

Gross Revenue: N/A

Price/Sq. Ft.: $23.00

NOI: N/A

Building SF: 43,000

FF&E: N/A

Year Built: 1981

Multi-Tenant Strip Mall - Value Add Opportunity

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Property Description

Currently Under Contract | CBC Orion is pleased to offer for sale, “Princeton Mall”, a multi-tenant strip center in Princeton, MN. 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.

Attached Documents


Detailed Information

Location:
Princeton, MN
Type:
Shopping Center
Building SF:
43,000
Building Status:
Established
Facilities:
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. 150 +/- parking stalls city owned and maintained directly in front of building. 5 Mile Population approx. 94,000 with average household income of $79,000.
Financing:
Possible Terms
Location Description:
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.
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Business Location


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Scott M. Schmitt, CCIM

Property Listed By:
Scott Schmitt

Coldwell Banker Commercial Orion

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Sponsoring Broker:
Mike Schmitt

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