Financial
Distress signals
Property profile

602 S Rum River Dr Princeton, MN 55371

FOR LEASE
Other commercial real estate
Property ID
US46-1411307
Last sale Feb 2026 · $450,000
Entity Owned Owner of record is a legal entity (LLC / corporation). ~ Est. High Equity Modeled equity is high. Estimate, not a fact.
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Property summary

AI-generated overview

The property is a freestanding commercial storefront building comprising 7,200 square feet and constructed in 1992. It features Spancrete trusses that create an open lower-level interior layout and includes electrical service sized to support commercial operations, along with signage areas. The site provides off-street parking and includes an additional separate lot that can be used for storage, fencing, or an expansion/addition. The building is located on South Rum River Drive near downtown…

Ownership intelligence

Who controls the opportunity?

Owner of record from public deeds, plus portfolio, hold profile and investor signals where the data supports them. In the full report.

Owner contacts

Can we reach the decision maker?

Skip-traced phones and e-mails of the owner. Included with the full report.

Mortgages

What is owed, to whom, and when it comes due

Recorded lenders, amounts and estimated maturities of the owner's loan book — in the full report.

Property tax · 2023

What does the county charge?
$8k
Tax billed · 2023
Assessed value$276k
Assessed land$33k
Assessed improvement$244k
Effective rate3.01%

Value estimate

· Sep 2026
$410k
$369k – $451k
NOI build-up
Gross scheduled income$137k
Vacancy & credit loss−$10k
Operating expenses−$38k
NOI · 591,186.67% cap applied$89k

Realmo valuation models over county records.

Recently sold

What actually traded nearby?
$182/SF
ZIP average, outlier-cleaned · 40 recorded sales of this use type
Observed band · Q1–Q3$90 – $254

Cap rate analysis

How does the asset earn?
591,186.67%
$89k estimated NOI · market benchmarks for this use type

Price anchors at 6 / 6.5 / 7% — in the full report.

Zoning insight

No data for this section
What can be built here?

No zoning code is on file for this parcel. Coverage grows with every catalog release.

JurisdictionMILLE LACS

Location intelligence

Which uses thrive at this corner?
Best fit: HVAC Service
Demand heat for this use is drawn on the map · LocInt grid
Demand index
HVAC Service9.7
Parking Facility8.9
Tailor Shop8.9

Location

602 S Rum River Dr Princeton, MN 55371
County assessor Recorded deeds · 6 transfers Qualifying comp sales · not on file Zoning catalog · not on file

Every figure names its source: public record, benchmark, or modeled. Coverage varies by property — thin data is stated as missing, never invented.

Comparables

6 recorded sales · 6 properties nearby
Recent sales nearby
6 recorded sales in this ZIP, last 8 years
Address Sale price Sold Size
1508 7th N St, Princeton, MN 55371-2404 $500,000 Feb 2026 No data
501 2nd, Princeton, MN 55371-1802 $450,000 Jan 2026 2,860 SF
31908 125th NW, Princeton, MN 55371-3392 $265,000 Jan 2026 2,000 SF
4383 Hwy 169us, Princeton, MN 55371-6528 $650,000 Jun 2025 No data
1005 16th S, Princeton, MN 55371-2326 $2,200,000 May 2025 31,607 SF
414 Rum Riv, Princeton, MN 55371-2019 $395,000 May 2025 2,106 SF
Sale prices and dates as our records hold them, one row per building. A deed can cover more of a building than the size shown, so read the price against the size rather than dividing one by the other.
Comparable nearby
6 properties of the same type nearby
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Ask anything about this address in plain English.
“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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