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Aspen Shops | New 10-Yr Extension 3300 32nd Ave S 9,645 SF 100% Leased Retail Building Grand Forks, ND 58201 $4,094,000 ($424.47/SF) 6.70% Cap Rate
Investment Highlights
- 100 Percent Leased - All Triple-Net Leases with Corporate Guarantees
- Aspen Dental New 10-Year Extension | Commitment to Location
- Densely-Populated Trade Area in Grand Forks - 82,327 Daytime Population within a Five-Mile Radius
- Resilient Service-Based Retailers | All Three Tenants Provide Medical Services
- Aspen Dental and Chapter Medical Parent Company, The Aspen Group, is a Leading Healthcare Services Organization with Approximately 1,400 Locations
- Average Household Income Exceeds $91,000 within the Immediate Area
Executive Summary
Aspen Dental Management, Inc. (“ADMI”) provides administrative and business support services to Aspen Dental branded dental practices. Each Aspen Dental branded practice is owned and operated by a licensed dentist.
Stanton Optical, a leading retail brand under Now Optics, is a national leader in affordable, full-service eye care. Through its flagship retail brand, Stanton Optical, Now Optics merges expert eye care with innovation to deliver a seamless, omni-channel experience.
Chapter is a leading local med spa with a team of caring experts, skilled in the clinical practice of non-surgical treatments including injectables, laser hair removal, medical grade facials, and body contouring treatments.
Grand Forks is the county seat of Grand Forks County and is North Dakota's third-largest city after Fargo and Bismarck, home to over 55,000 residents. Grand Forks is a vibrant, thriving community surrounded by rich farm country. Grand Forks, along with its twin city of East Grand Forks, Minnesota, forms the center of the Grand Forks metropolitan statistical area, which is often called Greater Grand Forks or the Grand Cities.
Stanton Optical, a leading retail brand under Now Optics, is a national leader in affordable, full-service eye care. Through its flagship retail brand, Stanton Optical, Now Optics merges expert eye care with innovation to deliver a seamless, omni-channel experience.
Chapter is a leading local med spa with a team of caring experts, skilled in the clinical practice of non-surgical treatments including injectables, laser hair removal, medical grade facials, and body contouring treatments.
Grand Forks is the county seat of Grand Forks County and is North Dakota's third-largest city after Fargo and Bismarck, home to over 55,000 residents. Grand Forks is a vibrant, thriving community surrounded by rich farm country. Grand Forks, along with its twin city of East Grand Forks, Minnesota, forms the center of the Grand Forks metropolitan statistical area, which is often called Greater Grand Forks or the Grand Cities.
Property Facts
Sale Type
Investment
Property Type
Retail
Property Subtype
Building Size
9,645 SF
Building Class
B
Year Built
2016
Price
$4,094,000
Price Per SF
$424.47
Cap Rate
6.70%
NOI
$274,289
Percent Leased
100%
Tenancy
Multiple
Building Height
1 Story
Building FAR
0.17
Lot Size
1.32 AC
Zoning
CC
Frontage
Moderately walkable
60/100
Exceptionally drivable
100/100
Limited public transit
30/100
Fairly bikeable
50/100
Nearby Major Retailers
Property Taxes
| Parcel Number | 44132600006001 | Improvements Assessment | $694,000 |
| Land Assessment | $432,000 | Total Assessment | $1,126,000 |
Property Taxes
Parcel Number
44132600006001
Land Assessment
$432,000
Improvements Assessment
$694,000
Total Assessment
$1,126,000
Contacts
-
Brennan Clegg -
Mark Ruble -
Christopher Lind -
Zack House -
Jon Ruzicka -
Marcus & Millichap
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Aspen Shops | New 10-Yr Extension | 3300 32nd Ave S
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