Grand Plaza Townhomes 1302-1350 S Grand Plaza Drive

CBRE is pleased to exclusively offer for sale Grand Plaza Townhomes, a 13-unit townhome community located in Spencer, Iowa. Built in 1973, the property has been fully renovated and features a strong unit mix of 2 one-bedroom/one-bathroom and 11 two-bedroom/one and one half-bathroom townhomes.

Grand Plaza Townhomes is located in the county seat and regional hub of Spencer, a Northwest Iowa community situated in the Iowa Lakes Corridor. Strategically positioned along Highways 71 and 18, Spencer is the primary shopping, dining, and employment center in an area anchored by the Iowa Great Lakes, which welcomes more than 1 million visitors each year.

Grand Plaza features a new roof completed in 2025, individual garage spaces, and direct-entry units with no interior corridors, providing residents with private access while minimizing common area maintenance responsibilities for ownership. Additionally, the property benefits from below-market operating expenses as residents pay all utilities.


ADDRESS: 1302 Grand Plaza Dr, Spencer, IA 51301
LIST PRICE: $1,025,000
YEAR BUILT: 1973
NUMBER OF UNITS: 13
UNIT MIX: 2-1BR/1BA; 11-2BR/1.5BA
OCCUPANCY: 100%
AVG. UNIT SIZE: 853 SF
TOTAL RENTABLE SF: 11,088
AVG. IN-PLACE RENT: $758
NUMBER OF BUILDINGS: 1
PARKING: 13 garage spaces

CLICK HERE FOR MORE INFORMATION: https://www.cbredealflow.com/buyer/agreement?pv=ywaIgTC873dNXnDB1zbWVprQchse599AW5P4SJYxVnW4-voazcOJuZ0_qKjdDmX4