120 S Rum River Drive Princeton, MN $ 2,195,000
120 S Rum River Drive
$ 2,195,000
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120 S Rum River Drive

Princeton, MN, 55371
$ 2,195,000
Baths0.0 Sq 42,824

Monthly Estimate*

$ 15,333

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Studio

Commercial Property for sale in Princeton, MN

for $2,195,000. This 42,824 square foot building was built in 1982 on a lot size of 1.31.

Building consists of approximately 43,000 total square feet. There is a diverse mix of 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. Current owners have invested approx. $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 several move in ready suites available for lease. Excellent opportunity to purchase this property at a low price per square foot ($51/SF). Additionally, there is a value-add component of raising any below market rents and increasing leasing efforts to improve occupancy to boost property performance and net operating income. NOW OFFERED WITH 6 MONTH RENTAL INCOME GUARANTEE!! (contact listing broker for details)

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Commercial Active

Price

$ 2,195,000

Bedrooms

Studio

Property Type

Commercial

Taxes

$ 32,736

Style

Retail

Lot Size

1.31

Year Built

1982

Town/City

Princeton

County/Region

Mille Lacs

MLS | Web ID

6466223

Features
General
Sewer City Sewer/Connected
Heating Other
Utilities Electric Common Electric Separate Heating Common Heating Separate Hot Water Common
Garage Spaces 0
Construction Materials Brick/Stone
Year Built 1982
Property SubType Retail
Tax Year 2023
Current Use Commercial
Accessibility No Stairs Internal
County Mille Lacs
Property Type Commercial Sale
Contingency None
Subdivision Name Damons Add
Directions 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.
City Princeton
Buyer Agent Compensation 0.00
High School District Princeton
Zoning Description Business/Commercial
Total Units 19
Street Name Rum River
Land Lease Y/N N
Tax Annual Amount 32736
Additional Parcels Y/N N
Standard Status Active
Lender Owned No
Buyer Agent Compensation Type %
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Exterior
Parking Features Off Site
Water Source City Water/Connected
Inclusions Building Leases
Lot Size Area 1.31
Building Area Total 42824
Lot Dimensions 350 x 163
Lot Size Units Acres
Foundation Area 57172
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Interior
Basement (Y/N) N
Street Suffix Drive
Fuel Electric Natural Gas
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Internal Only
Street Number 1 120
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* Excluded Features
List By
Coldwell Banker Commercial

Broker

scott@cbcorion.com

Email

Affordability Calculator

$18,061
Per Month
85%
15%
0%
Monthly Principal & Interest
$15,333
Monthly Property Taxes
$2,728
Monthly Home Insurance
--
Default based on a 30-year fixed rate of 7.49% with 20% down. The estimated payment is offered for convenience and is not an offer of credit. Due to market fluctuations, interest rates are subject to change at any time and without notice. Your individual rate may vary. Rates may differ for FHA, VA or jumbo loans.
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THE TIME TO SELL IS NOW!
Nearby
708419 Elementary School
709067 Middle School
Unknown High School High School
Pricing History
DatePricePrice ChangeDescription
12/5/2023$2,195,000 Listed Price

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120 S Rum River Drive, Princeton, MN, 55371 is a Commercial Property for sale at $2,195,000 with 42,824 sqft and a lot size of 1.31. 120 S Rum River Drive is a studio with 0.0 baths and was built in 1982. The property's zip code is 55371 which is in Princeton, MN