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3 S 4th Ave - Former Hospital Campus 231,400 SF Health Care Building Offered For Sale in Marshalltown, IA 50158
EXECUTIVE SUMMARY
Locate Commercial Real Estate has been retained to offer the former Hospital Complex in Marshalltown, Iowa. The 306,655 square foot facility is made up of multiple interconnected buildings located on a strategic 7 acre parcel in the downtown core of the city. It operated as a full service acute care hospital and medical office until Spring 2022, at which time operations were moved to a newly constructed facility in Marshalltown.
The city is supportive of a major redevelopment of the property into a mixed use campus that would offer market rate and/or low income multifamily housing, senior housing, assisted living, retail and restaurants, and medical/office spaces. The site is in Marshalltown’s Downtown Urban Renewal District which affords it multiple financial assistance opportunities including tax abatement and TIF rebates, the latter of which can be very substantial because the property has previously paid no property taxes when operated as a hospital.
The city is supportive of a major redevelopment of the property into a mixed use campus that would offer market rate and/or low income multifamily housing, senior housing, assisted living, retail and restaurants, and medical/office spaces. The site is in Marshalltown’s Downtown Urban Renewal District which affords it multiple financial assistance opportunities including tax abatement and TIF rebates, the latter of which can be very substantial because the property has previously paid no property taxes when operated as a hospital.
PROPERTY FACTS
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Walk Score®
Very Walkable (83)
PROPERTY TAXES
| Parcel Number | 8418-35-226-005 | Improvements Assessment | $1,342,730 |
| Land Assessment | $439,850 | Total Assessment | $1,782,580 |
PROPERTY TAXES
Parcel Number
8418-35-226-005
Land Assessment
$439,850
Improvements Assessment
$1,342,730
Total Assessment
$1,782,580
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3 S 4th Ave - Former Hospital Campus
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