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Listed by Timothy Lalk • Century 21 Signature RE
$ 440,000
Est. payment | /mo
6,098 Sqft Lot
$ 440,000
Est. payment | /mo
6,098 Sqft Lot
Key Details
Property Type Commercial
Sub Type Office/Retail
Listing Status Active
Purchase Type For Sale
MLS Listing ID 20262708
Year Built 1870
Annual Tax Amount $9,781
Tax Year 2025
Lot Size 6,098 Sqft
Acres 0.14
Property Sub-Type Office/Retail
Property Description
This commercial real estate package features two side-by-side historic buildings at 120 and 122 E Bremer Avenue in the heart of downtown Waverly. Offered as a combined sale, these highly visible properties provide a premier downtown footprint with exceptional income-producing potential and long-term upside for investors or owner-occupants. The main floor consists of multiple commercial units with strong storefront exposure along one of Waverly's busiest downtown corridors, creating opportunities for diversified rental income or owner-occupied business space. Below, the expansive basement level offers substantial usable space ideal for storage, workshops, future tenant amenities, or additional redevelopment possibilities. The second floor features six apartment units, providing an established residential income stream above the commercial spaces. Adding even more value, the third floor includes vacant space ready for conversion into additional apartments, creative studios, event space, or a custom vision tailored to market demand. Acquiring both adjacent storefront buildings doubles your main-street presence and creates a rare mixed-use investment opportunity with multiple income streams, redevelopment potential, and significant room for future growth. This property blends high-traffic commercial real estate, residential rentals, and untapped expansion space in one of Northeast Iowa's most desirable downtown locations.
Location
State IA
County Bremer
Zoning C-3
Interior
Heating Forced Air, Natural Gas, Electric
Cooling Central Air, Multi Units
Fireplace N
Exterior
Utilities Available Electricity Available, Natural Gas Available, Water Available, Sewer Available, Fiber Optics
View Y/N true
Building
Sewer Public Sewer
Structure Type Brick
Others
Acceptable Financing NBR20262708
Listing Terms NBR20262708
Special Listing Condition Normal Sale
Nearby Locations
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Brokerage | License ID: T06463000