509 8Th Street Ct Altoona, IA 50009
- Commercial real estate
- 7,500 SF
- 0.70 lot acres
Current Use by Public Records
- Commercial real estate
Property Details for 509 8Th Street Ct
- Lot size
- 0.70 lot acres
- Property size
- 7,500 SF
- Property type
- Commercial real estate
Description
This exceptional commercial property in Altoona, Iowa, presents a unique investment opportunity. Located at 509 8th Street Southwest, this 7,500 square foot retail pad site is situated adjacent to a new, Class A mixed-use multifamily development boasting over 200 units. The property offers excellent visibility and accessibility with frontage on 8th Street Southwest, a road with over 16,300 average annual daily traffic, according to the Iowa Department of Transportation. The site is ideal for build-to-suit (BTS) or ground lease (GL) development. Altoona's thriving economy is underscored by significant recent growth, including a 9.8% population increase from 2020 to 2022, reaching 21,503 residents. Furthermore, the city issued over $700 million in commercial construction permits in 2021 and 2022. Altoona's strong tourism sector, driven by attractions such as Adventureland Resort, Prairie Meadows Racetrack and Casino, and The Outlets of Des Moines, draws over 1.5 million visitors annually. This 0.7-acre lot offers a compelling investment prospect in a rapidly expanding market. The asking price for this prime retail pad is $499,000.
Value Estimation
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CAP approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Altoona
- County
- Polk
- State
- Iowa
- Longitude
- -93.470476
- Latitude
- 41.6445108
