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Listed by Zachary Wulfekuhle • Century 21 Signature Real Estate - Oelwein
$ 199,000
Est. payment | /mo
5,227 Sqft Lot
$ 199,000
Est. payment | /mo
5,227 Sqft Lot
Key Details
Property Type Commercial
Sub Type Retail
Listing Status Active
Purchase Type For Sale
MLS Listing ID 20262786
Year Built 1890
Annual Tax Amount $3,152
Tax Year 2025
Lot Size 5,227 Sqft
Acres 0.12
Property Sub-Type Retail
Property Description
Exceptional investment opportunity featuring a large mixed-use commercial building with seven income-producing spaces, including five upper-level apartments and two retail storefronts. The residential units consist of three 1-bedroom apartments and two 2-bedroom apartments, offering a diverse rental mix with strong income potential. The main level features a spacious, open retail area that is currently vacant and ready for an owner-occupant or new tenant, along with a separate smaller retail space that is already leased, providing immediate income. Numerous capital improvements have been completed over the past 15 years, including updated windows, roof, water heater, sidewalks, and sewer and water lines. In 2026, a complete exterior wall replacement was also completed, further enhancing the property's long-term value and reducing future maintenance concerns. The roof carries a transferable warranty for added peace of mind. Whether you're looking to expand your investment portfolio, occupy the commercial space while generating rental income, or acquire a well-maintained mixed-use property with upside potential, this versatile property offers a unique opportunity with multiple revenue streams and significant recent improvements.
Location
State IA
County Fayette
Zoning commercial
Interior
Heating Forced Air, Radiant
Cooling Central Air, Multi Units
Flooring Carpet
Fireplace N
Exterior
View Y/N true
Roof Type Membrane
Building
Sewer Public Sewer
Structure Type Stone
Others
Ownership Corporation
Acceptable Financing NBR20262786
Listing Terms NBR20262786
Special Listing Condition Normal Sale
Nearby Locations
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Brokerage | License ID: T06463000