1005 Pennsylvania AveOttumwa, IA 52501

Property Details for 1005 Pennsylvania Ave

Year built

1976

Lot size

4.28 AC

Property size (Sq ft)

87,967 SF

Property type

Healthcare properties

Property subtype

Medical offices

APN

7411990001010

APU

7411990001010

Description

This exceptional Ottumwa, IA medical office building, located at 1005 E Pennsylvania Ave (cross street: W. Penn Ave), offers 70,046 square feet of versatile space in a Class B building renovated in 2023. The property features multiple suites, ranging from a minimum of 1,200 square feet to a maximum contiguous space of 25,000 square feet, with 25,000 square feet currently vacant. The two-story building boasts a 12-foot ceiling height, three elevators, and ample parking. It benefits from its proximity to Ottumwa Regional Hospital, a level 3 trauma center. The building is undergoing a complete renovation and modernization of common areas and the exterior, promising a first-class medical facility at competitive lease rates. The property is ideal for medical practices seeking flexible, modern space, with build-to-suit options and tenant improvement allowances available upon negotiation. This prime location in Ottumwa, IA (zip code 52501) offers excellent visibility and accessibility. Inquire today to learn more about leasing opportunities.

• CAP approach

  CAP return

  Valuation

  6%

  $18,017,112

  6.5%

  $16,631,181

  7%

  $15,443,240

• Comparable approach

  Method

  Valuation

  Relative Method

  $6,857,908

  Geo Method

  $6,857,908

• Alternative Use

  Use

  Valuation

  Residential

  $20,622,664

  Hospitality

  $18,890,250

  Educational

  $15,716,466

  Medical

  $16,256,980

  Retail

  $24,447,836

Location Insight

City

Ottumwa

County

Wapello

State

Iowa

Latitude

41.0284

Longitude

-92.3884

CBSA code

36900

CBSA name

OTTUMWA, IA MICROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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