I barely spotted this place over a berm of dirt from the road. I wasn't sure at first exactly what condition it might be in, but I doubled back and parked next to the water tower. Then I circled around the tower and came onto the property from behind.
What I found appeared, at first to be a motel. As it turns out, after speaking with some of the locals, this was in fact an outdoor roller rink. Today, however, it appears it's a favourite place for the local kids to party, drink, read porn, and worst of all, skateboard.
Some of the graffiti on the back wall was interesting. Overall, the place is worth a look if you happen to be wandering by.
UPDATE May 14, 2013: During a drive-by today, I noticed this structure has been demolished.