1255 Theatre DrOttumwa, IA 52501

Property Details for 1255 Theatre Dr

Year built

2013

Construction

FRAME

Lot size

1.10 AC

Property size (Sq ft)

5,074 SF

Property type

Healthcare properties

Property subtype

Medical offices

APN

7417850001000

APU

7417850001000

Description

This exceptional 5,074 square foot medical office building, constructed in 2013, is situated on a 1.1-acre lot at the highly visible corner of Quincy Avenue and Highway 34 in Ottumwa, Iowa. The single-tenant property boasts a prime location within Ottumwa's main retail corridor, ensuring excellent exposure and accessibility. The building features 53 total parking spaces for ample client and staff convenience. The property's strategic placement offers significant advantages, including co-tenancy with Aspen Dental and proximity to major retailers such as Hy-Vee, Hobby Lobby, Bomgaars, Aldi, and TJ Maxx, creating a strong retail synergy. The building's design allows for a potential drive-thru installation on the east side, further enhancing its operational flexibility. Prominent monument signage and two-sided building signage provide exceptional branding opportunities. The property is zoned for retail and office use, making it an ideal investment for a variety of medical practices. This single-story building offers 5,074 square feet of functional space, perfect for a growing medical business seeking a high-profile location in a thriving commercial area. The property's location in Wapello County, Iowa, with a 52501 zip code, offers easy access to major transportation routes.

• CAP approach

  CAP return

  Valuation

  6%

  $951,111

  6.5%

  $877,949

  7%

  $815,238

• Comparable approach

  Method

  Valuation

  Relative Method

  $395,569

  Geo Method

  $395,569

• Alternative Use

  Use

  Valuation

  Residential

  $1,088,656

  Hospitality

  $997,203

  Educational

  $829,661

  Medical

  $858,195

  Retail

  $1,290,584

Location Insight

City

Ottumwa

County

Wapello

State

Iowa

Latitude

41.019

Longitude

-92.438

CBSA code

36900

CBSA name

OTTUMWA, IA MICROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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