1 S Frederick Avenue, Oelwein, IA 50662

sale $199,000 | Retail

Listed By CENTURY 21 Signature Real Estate

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.

Property Features

Building Area: 9510.00 SF
Cross Docks: N
For Auction: N
Location Name: 1 S Frederick Avenue , Oelwein
MLSID: 20262786
Price Per Area: 0.00
Price Upon Request: N
Style: Other Style
Sublease: N
Tax Year: 2025
Taxes: $3152.00
Year Built: 1890
Zoning: commerc