Mixed-Use Retail and Apartments
For Sale
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1 S Frederick Avenue, Oelwein, IA 50662
Seven income-producing units combine upper-level apartments with retail space, including a vacant main-area opportunity.
Property Size9,510 SF
Price / SF$20.93
Days on Market54
Property Features for 1 S Frederick Avenue
General Information
Standard status
Active
Size
9,510 SF
Property subtype
Retail
Additional Details
Business Included
Yes
Multifamily Units
5
Building Details
Year Built
1890
Listing Agency:
CENTURY 21 Signature Real Estate
Listed By:
Zach Wulfekuhle · License #IA
Source:
Crexi
Added: Jun 20
Changed: Aug 8
Last Checked: Aug 11 at 1:41PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of CENTURY 21 Signature Real Estate
Investment Insights
Based on property information with market context.
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.
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.
Key Highlights
- 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
Property Analytics
Property Profile
Current Use
Lease Details
5
Residential units
Turnkey business
Opportunity
Location Intelligence
Trade Area within ½ mile
115
Businesses Nearby
Explore this area
Business Placement
Demographics for 50662, IA
6,693
Population
3,260
Households
2.1
Avg Household Size
44
Median Age
16%
College-Educated
92%
High-School Grad
70.4 sq mi
ZIP Area
95
Density / Sq Mi
$49,145
Median Household Income
$37,378
Median Earnings
$760
Median Rent
$108,200
Median Home Value
Market
Vacancy Rate% for Multifamily in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
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
