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3 S 4th Ave - Former Hospital Campus

231,400 SF Health Care Building Offered For Sale in Marshalltown, IA 50158

Hospitals & Medical Centers Iowa Marshalltown 3 S 4th Ave, Marshalltown, IA 50158

Executive Summary

Locate Commercial Real Estate has been retained to offer the former Hospital Complex in Marshalltown, Iowa. The 306,655 square foot facility is made up of multiple interconnected buildings located on a strategic 7 acre parcel in the downtown core of the city. It operated as a full service acute care hospital and medical office until Spring 2022, at which time operations were moved to a newly constructed facility in Marshalltown.
The city is supportive of a major redevelopment of the property into a mixed use campus that would offer market rate and/or low income multifamily housing, senior housing, assisted living, retail and restaurants, and medical/office spaces. The site is in Marshalltown’s Downtown Urban Renewal District which affords it multiple financial assistance opportunities including tax abatement and TIF rebates, the latter of which can be very substantial because the property has previously paid no property taxes when operated as a hospital.

Attachments

405 E Main St Marshalltown Brochure

Property Facts

Sale Type Investment or Owner User Building Size 231,400 SF
Sale Conditions Distress Sale No. Beds 500
Property Type Health Care No. Stories 4
Property Subtype
Hospital
  • Healthcare Assisted Living
  • Healthcare Congregate SeniorHousing
  • Healthcare Continuing Care Retirement Community
 Year Built/Renovated 1966/2007
Building Class B Opportunity Zone Yes
State officials designate a portion of qualified Census Tracts to be Opportunity Zones. Certain investments in Opportunity Zones may be eligible for preferential tax treatment.
Lot Size 5.77 AC
Sale Type Investment or Owner User
Sale Conditions Distress Sale
Property Type Health Care
Property Subtype
Hospital
  • Healthcare Assisted Living
  • Healthcare Congregate SeniorHousing
  • Healthcare Continuing Care Retirement Community
Building Class B
Lot Size 5.77 AC
Building Size 231,400 SF
No. Beds 500
No. Stories 4
Year Built/Renovated 1966/2007
Opportunity Zone Yes
State officials designate a portion of qualified Census Tracts to be Opportunity Zones. Certain investments in Opportunity Zones may be eligible for preferential tax treatment.
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Walk Score ®
Very Walkable (80)
What is a Walk Score®, Transit Score® & Bike Score®?
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Transit Score® measures access to public transit.
Bike Score® measures bikeability of a location.
What is a Walk Score®
, Transit Score® & Bike Score?
Walk Score® measures the walkability
of any address. Transit Score®
measures access to public transit. Bike Score®
measures bikeability of a location.®
Learn How It Works Detailed Scores

PROPERTY TAXES

Parcel Number 8418-35-226-005 Improvements Assessment $1,439,940
Land Assessment $565,520 Total Assessment $2,005,460

PROPERTY TAXES

Parcel Number
8418-35-226-005
Land Assessment
$565,520
Improvements Assessment
$1,439,940
Total Assessment
$2,005,460

zoning

Zoning Code OP (Office Professional)
OP (Office Professional)
(515) 778-7268

Contacts

  • Listing ID: 27530031

  • Date on Market: 1/17/2023

  • Last Updated:

  • Address: 3 S 4th Ave, Marshalltown, IA 50158

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3 S 4th Ave - Former Hospital Campus
(515) 778-7268 x

3 S 4th Ave - Former Hospital Campus

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Steve Scott

(515) 778-7268

(515) 778-7268

Emma Diaz

(515) 750-7500

(515) 750-7500

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