2004 Highway Blvd 10,114 SF 100% Leased Office Building Spencer, IA 51301 $1,367,000 ($135.16/SF)

Discover a premier medical investment opportunity in Spencer, Iowa. This 10,114 SF facility at 2004 Highway Boulevard is fully leased to Wolfe Eye Clinic and Edward Jones, offering a stable income stream from two tenants, with a negotiable lease rate for the primary tenant. Wolfe Eye Clinic, a leading provider specializing in retina and cataract care, anchors the property, while Edward Jones adds financial services synergy under a 7-year term. Both tenants benefit from a recently completed 2025 renovation, featuring a heavily built-out interior with full plumbing and modern finishes.
Strategically positioned along Highways 18 and 71, the property boasts exceptional visibility and accessibility. It sits directly across from the Clay County Fairgrounds, attracting over 275,000 annual visitors, and less than a mile from Spencer Hospital, which sees more than 300,000 annual visits. Iowa Lakes Community College, with over 2,000 students, is located just steps away, creating a dynamic environment for healthcare and professional services.
The site offers ample front and rear parking, ensuring convenience for patients and staff. Zoned C-2 Highway Commercial, the property supports a wide range of uses and potential future redevelopment. Located in a thriving regional hub, Spencer draws visitors from over 40 miles away, supported by strong demographics with an average household value of $221,488 within a one-mile radius.
This sale-leaseback opportunity combines long-term tenancy, recent capital improvements, and a prime location, making it an ideal addition to any investment portfolio.