Your AI Navigator in Commercial Real Estate
Sign Up Successful!
You now have access to more from Realmo!
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search

    405 Main St Marshalltown, IA 50158

    For Sale
    Contact for pricing

    7-Acre Campus, Mixed-Use Potential

    Property size:
    231,400 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    369
    This exceptional 231,400 square foot former hospital complex presents a unique redevelopment opportunity. Situated on a 7.04-acre lot in Marshalltown, Iowa's Downtown Urban Renewal District, this six-building, six-story property offers significant potential for mixed-use development. The city actively supports a major redevelopment project, providing access to substantial financial incentives, including tax abatement and Tax Increment Financing (TIF) rebates. Previously owned and operated by Unity Point, the property boasts 241 parking spaces and is zoned MU. Renovations were completed in 2004 and 2007. The property, vacant since Spring 2022, is ideally suited for a variety of uses, including market-rate and/or low-income multifamily housing, senior housing, assisted living facilities, retail, restaurants, and medical/office spaces. The seller is open to considering 1031 exchanges and offering financing up to 50% of the purchase price for qualified buyers. A one-week due diligence period is offered, with a fully refundable 5% earnest money deposit. The property's address is 405 E Main St, Marshalltown, IA 50158, and its APN is 8418-35-226-002, 005, and 006. A virtual tour is available.

    Property Features for 405 Main St

    General Information

    Property type
    Specialty properties
    Square Feet
    231,400 SF
    Lot Size
    306,662 SF

    Building Details

    Year Built/Renovated
    1965/2004
    Buildings
    6
    Stories
    6

    HighLights

    • Former hospital complex.
    • 306,655 SF multi‑building facility.
    • 7‑acre site.
    • City supports major redevelopment.
    • Located in Marshalltown's Downtown Urban Renewal District.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Bonte Gbemudu Family Practice Physician Mattie Testroet A.R.N.P. Hematologist mmsc marshalltown clinic Doctor Dr. Thomas Ambrose Orthopedic Surgeon Arnold Delbridge Orthopedic Surgeon

    Suggested Use

    Realty agency Law Firm Restaurant Spa & Massage Dental Office Hair Salon Nail Salon Clothing Store Building Supply Gym & Fitness

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Marshalltown
    County
    Marshall
    State
    Iowa
    Longitude
    -92.9061743
    Latitude
    42.0487944

    Nearby Similar for Sale

    • $399,900
      Pending

      Updated Commercial Office Building For Sale

      Fully updated commercial office building in downtown Marshalltown, Iowa.
      112 E Linn St, Marshalltown, IA 50158
      View Details
    • $275,000
      Pending

      Turnkey Office Building, Marshalltown, IA

      Well-maintained commercial office building with prime location and new roof.
      101 E Linn St, Marshalltown, IA 50158
      View Details
    • New
      $105,000
      Pending

      Marshalltown Duplex with Garage

      Well-maintained duplex with separate utilities and garage parking.
      502 N 3Rd Ave, Marshalltown, IA 50158
      View Details
    • $277,000
      3,860 SF

      Remodeled Commercial Building in Marshalltown

      Recently remodeled, handicap accessible commercial building suitable for various purposes.
      704 May St, Marshalltown, IA 50158
      View Details
    • $99,900
      Pending

      Charming Duplex with Income Potential

      Duplex with long-term tenant and potential for third unit.
      107 W Grant St, Marshalltown, IA 50158
      View Details
    • $239,999
      6,848 SF

      Corner Lot Commercial Building

      Spacious retail building on a corner lot in downtown Marshalltown.
      116 E Church St, Marshalltown, IA 50158
      View Details

    FAQs

    What type of property is this?
    Specialty property - 7-Acre Campus, Mixed-Use Potential
    Where is this specialty property located?
    The property is located at 405 Main St Marshalltown, IA.
    What are key features of this property?
    This property features: Former hospital complex.; 306,655 SF multi-building facility.; 7-acre site.
    (515) 778-7268
    Request Owner's contact information
    405 Main St Marshalltown, IA 50158
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    405 Main St
    Marshalltown, IA 50158
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    405 Main St Marshalltown, IA 50158
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Google sign-in failed. Please try again or use another login method.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.