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    116 N Market St Ottumwa, IA 52501

    For Sale
    $345,000

    Mixed Use, Commercial Sale - Ottumwa, IA

    Lot size:
    0.06 Acres
    Days on Market:
    109
    Last Refresh:
    Dec 13 at 7:06 pm

    Property Features for 116 N Market St

    General Information

    Property type
    Commercial Sale
    Property subtype
    Other
    Standard status
    Active
    APN
    007411240208000
    Parking features
    On Street
    Lot size
    0.06 Acres

    Utilities

    Heating system
    Forced Air

    Building Details

    Year built
    1863
    Number of units
    4
    Building materials
    Brick
    Architectural style
    Other

    RE/MAX Pride-Ottumwa (641) 683-3777

    Listing agent Anthony Gevock (641) 683-3777 License #***

    Listing date Aug 27, 2025

    MLS# 6331258 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

    Mixed-Use Building in Ottumwa, Iowa

    This mixed-use building in Ottumwa, Iowa, presents a commercial opportunity. The property is currently configured for a brewery or bar, retaining the setup of the former Pallister Brothers Bar & Taproom. An inventory list is available upon request. The building includes two executive apartments and a law office. All three spaces are currently rented, generating monthly income. The building underwent a complete renovation within the last 15 years and features a new facade completed in 2024. The lot size is 0.06 acres.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Bars

    Suggested Use

    Realty agency Law Firm Restaurant Spa & Massage Dental Office Hair Salon Nail Salon Clothing Store Building Supply Gym & Fitness

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

    Similar Places Nearby

    Snookered Pool Hall Bar & Grill, Uncle Buck's Bar & Grill, Owl's Nest, The Keg, Las Palmas Bar & Grill

    Location Insight

    • Map
    • Local Demand
    City
    Ottumwa
    County
    Wapello
    State
    Iowa
    Longitude
    -92.410112
    Latitude
    41.018011

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    FAQs

    What type of property is this?
    Bar - Mixed-use building with bar, apartments, and office space for sale.
    Where is this bar located?
    The property is located at 116 N Market St Ottumwa, IA.
    What is the asking price?
    The asking price for this property is $345,000.
    What are key features of this property?
    This property features: - Turn-key brewery/bar opportunity with existing setup.; - Three income-generating rental units (two apartments, one office).; - New facade in 2024.
    (641) 683-3777
    Request Owner's contact information
    116 N Market St Ottumwa, IA 52501
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    Ottumwa, IA 52501
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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
    116 N Market St Ottumwa, IA 52501
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