COMMERCIAL BUILDING

PRINCETON, MN AUCTION

LOCATION: From Princeton, MN, 1 mile from the intersection of Hwy 169 & MN 95E, .25 mile south on Rum River Drive. 105 N Rum River Drive, Princeton, MN 55371

OPENS: MONDAY, APRIL 8
CLOSES: TUESDAY, APRIL 16 BEGINNING AT 3:00PM

AUCTIONEER’S NOTE: After years in the business the Ossell’s have decided to retire! This prime piece of real estate has been in the Ossell family for over 60 years. Located just an hour north of the Twin Cities. This Commercial property is located on Rum River Drive, a highly traveled corridor through Princeton. Princeton’s population is 4,700+ people but rapidly increases to over 15,000 people if you take into consideration the population in the neighboring Townships. The growing trend is reflected by the national franchises opening in the area such as Aldi and Kwik Trip. This is a long-awaited opportunity for any expanding or new business! You have heard the term location, location, location. This is it! This property will be sold to the highest bidder! Opening Bid $137,000. Building last appraised for over $500,000.

Property Information
Year Built 1963
City Street parking in front
Private customer parking lot in back with 13 spaces
Prime corner location 3 entrances
Single or Multi-Tenant Building - Building can easily be demised/sub-lease areas
Handicap accessible main level
Well maintained building
Multiple storage rooms in the lower level

(4) Furnaces / AC units installed in 2003

(3) Heat/AC zones (2 zones currently servicing Ossells & 1 zone currently servicing tenant area)

Electric is 3 phase and it is 60 amp

Firestone roof installed in 2001

Utilities

Heat (Center Point) budget of $124/month

Electric & Water budget of $795/month (Current renter pays their own gas and electricity. Not included in these totals)

County Information
Retail building
10,981 SF per (Realist)
Building area 7,478 (per county records)
Full basement
Zoning B1 Central Business
P.I.D. #: 24-040-0140
Lot size: 0.25 Acre
Taxes 2018: $4,784

TERMS: Ten percent down upon signing purchase agreement, payable by cash or check. Balance due at closing within 60 days (June 2019). This is a 5% premium auction.

For a detailed Buyer's Prospectus with complete terms and conditions, contact Steffes Group at 320.693.9371, Shelly Weinzetl 763.300.5055,
orEric Gabrielson 701.238.2570

Downloads:
Commercial Building, Princeton, MN Auction Buyer's Prospectus