Building Details

Year built 1973

Roof type Rubber

Listing Agency: Realty Professionals m***@gmail.com Show Phone

Listed By: Mark Hallett · License #B04510 Show Phone

Added: Feb 25 Changed: Aug 20 Last Checked: Aug 25 at 9:06AM

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MLS# 260068

Copyright © 2026 Iowa Great Lakes Board of Realtors. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

Investment Insights

Based on property information with market context.

Available for lease, this 2,626-square-foot restaurant property was built in 1973 and includes a rubber roof, forced-air heating, and central air conditioning. The former Hardee's location offers existing equipment and fixtures that can remain for a new tenant if desired. Public water and public sewer serve the property.

The building occupies a corner lot at the junction of Hwy 18 and Hwy 71, with access from three sides. Off-street parking totals 21,000 square feet, and the location records an average daily car count of 14,700. The property is located at 704 S Grand Avenue in Spencer, Iowa.

Key Highlights

• 2,626‑square‑foot restaurant property built in 1973
• 21,000 square feet of off‑street parking
• Corner lot at Hwy 18 and Hwy 71 with three‑sided access

Property Analytics

Property Profile

Current Use

Hardee's Restaurant Sherwin-Williams Paint Store Painting

Suggested Use

Top Pick Real Estate Agency Restaurant Building Supply Law Firm Big Box & Wholesale Store Storage Facility

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

14,700 VPD

Traffic count

Yes

Highway access

Yes

Paved road access

NNN (Triple Net)

Lease Type

$2.33 /SF/Yr

CAM

Location Intelligence

Trade Area within ½ mile

419

Businesses Nearby

40k

Monthly Visits Nearby

Under-served

Demand for This Use

Explore this area Business Placement

Foot Traffic Nearby

Dining 52% Shops & Services 38% Electronics 6% Home Improvements & Furnishings 3%

Sinclair Shops & Services

9,939 visits/mo 0.3 miles

KFC Dining

8,717 visits/mo 0.3 miles

Hardee's Dining

5,082 visits/mo 0.0 miles

Papa Murphy's Dining

4,550 visits/mo 0.3 miles

O'Reilly Auto Parts Shops & Services

2,697 visits/mo 0.0 miles

Demographics for 51301, IA

12,606

Population

6,096

Households

2.1

Avg Household Size

43

Median Age

28%

College-Educated

95%

High-School Grad

157.7 sq mi

ZIP Area

80

Density / Sq Mi

$61,175

Median Household Income

$38,961

Median Earnings

$796

Median Rent

$180,400

Median Home Value

Market

Vacancy Rate% for Retail in Midwest region

8% 2020

7.3% 2021

6.5% 2022

6% 2023

5.7% 2024

6.3% 2025

Questions? Ask Rey

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What type of property is this? Where is this conventional restaurants located? What is the lease rate? Find similar properties ... What are key features of this property?

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Similar Off Market Nearby

• China 1 Buffet — 419 11th St SW, Spencer, IA 51301

Frequently Asked Questions

What type of property is this?

Conventional restaurant - Corner-lot restaurant with three-sided access, central air, and optional existing equipment and fixtures.

Where is this conventional restaurant located?

The property is located at 704 S Grand Avenue Spencer, IA.

What is the lease rate?

The lease rate is $3,400/Mo.

What are key features of this property?

This property features: 2,626‑square‑foot restaurant property built in 1973; 21,000 square feet of off‑street parking; Corner lot at Hwy 18 and Hwy 71 with three‑sided access