1 S Frederick Avenue, Oelwein, IA 50662

Building Details

Year Built

1890

Listing office CENTURY 21 Signature Real Estate

Listing date Jun 20, 2026

Source Crexi

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Overview

This mixed-use building provides seven income-producing spaces, including five upper-level apartments and two retail storefronts. The residential component features three 1-bedroom apartments and two 2-bedroom apartments. On the main level, there is a spacious, open retail area that is currently vacant and ready for an owner-occupant or a new tenant, along with a separate smaller retail space that is already leased.

Recent building improvements have been completed over the past 15 years, including updated windows, roof, water heater, sidewalks, and sewer and water lines. In 2026, the exterior wall replacement was completed, supporting long-term exterior maintenance. The roof carries a transferable warranty.

For tenants or buyers seeking a property that combines residential income with on-street retail positioning, this configuration offers both immediate occupancy through the leased storefront and flexibility through the vacant retail area. The mix of unit types and the documented capital upgrades may appeal to owners looking for a well-maintained, mixed-use setup with multiple revenue streams.

Suggested Use

Real Estate Agency Restaurant Law Firm Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Auto Repair Shop Gym & Fitness Center

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

Location Insight

• Map
• Local Demand

City

Oelwein

County

Fayette

State

Iowa

Longitude

-91.912981

Latitude

42.677672

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FAQs

What type of property is this?

Apartment building - Seven income-producing units combine upper-level apartments with retail space, including a vacant main-area opportunity.

Where is this apartment building located?

The property is located at 1 S Frederick Avenue Oelwein, IA.

What is the asking price?

The asking price for this property is $199,000.

What are key features of this property?

This property features: Mixed‑use commercial building (1890) with seven income‑producing spaces: five upper‑level apartments plus two retail storefronts; Apartment mix includes three 1‑bedroom units and two 2‑bedroom units; Main level has a spacious open retail area currently vacant and ready for an owner‑occupant or new tenant