3300 32nd Avenue S, Grand Forks, ND 58201

Marcus & Millichap is pleased to exclusively offer Aspen Shops, a fully-leased, 9,645 SF NNN retail property located at 3300 32nd Avenue S in Grand Forks, North Dakota. The property features three corporate-guaranteed tenants providing essential medical services: Aspen Dental, Stanton Optical, and Chapter Medical (an Aspen Dental subsidiary). Built in 2016, the property is strategically positioned in Grand Forks' primary retail corridor along 32nd Avenue S, directly off Interstate 29, with excellent frontage and accessibility. The location benefits from proximity to major retail anchors including Columbia Mall, Target, Walmart, Sam's Club, Lowe's, and Menards.

The asset is situated in a densely-populated trade area with 82,327 daytime population within a 5-mile radius and average household income exceeding $91,000. The property is less than 10 minutes from the University of North Dakota, which enrolls approximately 15,800 students, and 25 minutes from Grand Forks Air Force Base with roughly 4,000 personnel. This college town location in Grand Forks' vibrant retail hub provides strong demographic support for the medical service tenants.

All three tenants operate under NNN leases with corporate guarantees, providing approximately 8 years of weighted average lease term (WALT). Aspen Dental recently executed a new 10-year extension demonstrating commitment to the location, while Chapter Medical has a scheduled 10% rent increase next year. The Aspen Group, parent company to both Aspen Dental and Chapter Medical, is a leading healthcare services organization with approximately 1,400 locations across 46 states and 5 brands, providing strong tenant credit quality and operational stability.