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    112 N Main St Fairfield, IA 52556

    For Sale
    $465,000

    Retail, Commercial Sale - Fairfield, IA

    Lot size:
    0.07 Acres
    Days on Market:
    71
    Last Refresh:
    Dec 5 at 6:06 am

    Property Features for 112 N Main St

    General Information

    Property type
    Commercial Sale
    Property subtype
    Other
    Standard status
    Active
    Zoning
    Business/Commercial
    APN
    06-25-309-011
    Lot size
    0.07 Acres

    Utilities

    Heating system
    Forced Air
    Cooling system
    Central Air

    Building Details

    Year built
    1900
    Number of units
    3
    Building materials
    Brick, Wood Siding
    Architectural style
    Other

    Village Realty (641) 472-9900

    Listing agent Joanne Terrien (641) 472-9900 License #***

    Listing date Sep 26, 2025

    MLS# 6330644 Listing URL

    Copyright © 2025 NoCoast MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    Overview

    Turnkey Restaurant & Income Property

    This dual-use building in the heart of Downtown Fairfield presents an opportunity for entrepreneurs and investors. The east-facing building is equipped for restaurant operations and features abundant natural light. The main level includes 2 commercial kitchens, a spacious dining area with motorized blinds, a coffee and drinks bar, and an authentic Italian brick pizza oven. Additional features include a commercial sound system, modern lighting, vintage exposed brick walls, a touchscreen POS system with display screens, prep stations, refrigerators, freezers, and ample storage, including a dry basement. The second floor houses 3 one-bedroom, one-bath apartments, each with a private kitchen. All units are currently rented, providing rental income. The sale includes all restaurant equipment, appliances, fixtures, TVs, bar setup, utensils, and small wares, making it a turnkey operation. The property is located steps from the town square and downtown shops. The lot size is 0.07 acres. The current rents for the 3 apartments total $2575 per month, minus utilities. The property is zoned for Business/Commercial use.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Mira's Cafe Cafe

    Suggested Use

    Realty agency Restaurant Law Firm Spa & Massage Dental Office Hair Salon Nail Salon Building Supply Clothing Store Auto Repair Shop

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Fairfield
    County
    Jefferson
    State
    Iowa
    Longitude
    -91.964148
    Latitude
    41.008196

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    FAQs

    What type of property is this?
    Turn key restaurant - Dual-use building in Downtown Fairfield: restaurant and residential income.
    Where is this turn key restaurant located?
    The property is located at 112 N Main St Fairfield, IA.
    What is the asking price?
    The asking price for this property is $465,000.
    What are key features of this property?
    This property features: - Turnkey restaurant operation with all equipment, appliances, fixtures, and inventory included.; - Dual-income property: fully equipped restaurant space plus three rented 1-bedroom apartments generating $2575/month.; - Prime downtown location, steps from the town square and shops.
    (641) 472-9900
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    112 N Main St Fairfield, IA 52556
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