1 S Frederick Ave - Storefront Retail/Residential FOR SALE


Oelwein, IA 50662
$199,000 USD
563-422-3285
1 S Frederick Ave, Oelwein, IA for Sale
$199,000 USD
Storefront Retail/Residential - FOR SALE
1/25
null | Request Cap Rate

1 S Frederick Ave
Oelwein, IA 50662


HIGHLIGHTS

  • Diverse residential unit mix with one-bedroom and two-bedroom apartments for flexible occupancy.
  • Extensive recent improvements, including exterior wall replacement and updated building systems.
  • Seven income-producing spaces, including five apartments and two retail suites.
  • Roof with a transferable warranty, reducing future capital expense risks.

OVERVIEW

This mixed-use commercial property presents a compelling investment opportunity with multiple income streams and a proven track record of successful operations. The building includes seven revenue-generating spaces: five well-positioned upper-level apartments and two retail storefronts. Residential units feature a diverse mix of three one-bedroom apartments and two two-bedroom apartments, allowing for flexible tenancy and strong occupancy potential. On the first level, a spacious retail area is currently vacant, ideal for an owner-user or new tenant, while the secondary retail suite is leased, delivering immediate income stability. Significant capital improvements spanning the past 15 years underscore the property’s durability and long-term value, including updated windows, upgraded roof structures, water heater, sidewalks, and modernized sewer and water lines. A full exterior wall replacement completed in 2026 offers enhanced structural integrity and curb appeal. Additionally, the property’s roofing system carries a transferable warranty, minimizing future maintenance obligations. Investors will appreciate the versatility of this asset, whether as an owner-occupied retail hub paired with residential income or as a portfolio addition with upside potential.

FOR SALE DETAILS

PRICE

$199,000 USD

PRICE/SF

$21 USD /SF

CAP RATE

Request Cap Rate

% LEASED

-

TENANCY

Multiple

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Storefront Retail/Residential

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1890

SPRINKLERS

-

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.12 AC

LAND SF

5,153 SF

ZONING

C

APN/PARCEL ID

18-21-401-025

ASK ABOUT THIS PROPERTY

Zachary WulfekuhleCentury 21 Signature Real Estate OelweinMore Info
563-422-3285

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Zachary WulfekuhleCentury 21 Signature Real Estate OelweinMore Info
563-422-3285

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.