Building Details

Year Built 1965

Year Renovated 2003

Buildings 2

Stories 2

Units 45

Tenancy Multi

Listing Agency: NAI United b***@naiunited.com Show Phone

Listed By: Beau Braunger · License #IA S58804000

Source: Crexi

Added: Jul 29 Changed: Aug 9 Last Checked: Aug 10 at 2:55PM

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Investment Insights

Based on property information with market context.

This 41,421-square-foot residential healthcare property includes 29 nursing home units and 16 market-rate apartments. The building dates to 1965 and underwent renovation in 2003, providing two distinct residential components within one facility. The existing nursing home area may continue in its current use or be repurposed for apartments, a school, or another use, subject to applicable requirements.

Located at 410 Spruce St in Albert City, Iowa, the property is zoned M - Residential (MR R3+). Showings require 24-hour notice.

Key Highlights

• 41,421‑square‑foot property with 29 nursing home units
• 16 market‑rate apartments included
• Renovated in 2003; originally constructed in 1965

Property Analytics

Property Profile

Current Use

Alison's Kitchen Restaurant

Suggested Use

Top Pick Electrical Service Building Supply Grocery & Convenience Store Florist Auto Repair Shop Law Firm

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

Location Intelligence

Trade Area within ½ mile

29

Businesses Nearby

Well-served

Demand for This Use

Explore this area Business Placement

Demographics for 50510, IA

1,069

Population

471

Households

2.3

Avg Household Size

48

Median Age

21%

College-Educated

92%

High-School Grad

86.6 sq mi

ZIP Area

12

Density / Sq Mi

$78,523

Median Household Income

$39,183

Median Earnings

$758

Median Rent

$104,400

Median Home Value

Market

Vacancy Rate% for Multifamily in Midwest region

6.5% 2022

7.5% 2023

7.8% 2024

8% 2025

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Frequently Asked Questions

What type of property is this?

Nursing home - Renovated residential property combining nursing care space with market-rate apartments.

Where is this nursing home located?

The property is located at 410 Spruce St Albert City, IA.

What is the asking price?

The asking price for this property is $999,900.

What are key features of this property?

This property features: 41,421‑square‑foot property with 29 nursing home units; 16 market‑rate apartments included; Renovated in 2003; originally constructed in 1965