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Property profile & analytics
FOR LEASE
Medical Office Space

1005 E Pennsylvania Ave Ottumwa, IA 52501

87,967 SF 4.28 ac lot Built 1976
Entity Owned 12-yr Hold Absentee Owner
Property ID
US25-2073054
Property summary
AI-generated overview

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.

Property profile
Verified
Property type Medical Office Space
Use group MEDICAL BUILDING
Year built 1976
Total area 87,967 SF
Lot 4.28 ac (186,436 SF)
APN 7411990001010
UPID US25-2073054
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Value estimations
Realmo proprietary · 4 methods
AI Approach AI
by Request
CAP Approach CAP
by Request
Comparable Approach Comparable
by Request
Blend (final) Blend
$2.81M
Owner & transaction history
Mbglen Company LLC · 12 yrs held
Mbglen Company LLC
since 2013
2 recorded transactions
2013
Price N/A
2013
$9.3M
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
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