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    50 2Nd St Fairfield, IA 52556

    Sponsored
    For Sale
    $275,000

    Prime Location, Restaurant & Apartment Potential

    Property size:
    4,114 SF

    Description

    Added:
    Feb 3, 2025
    Days on Market:
    343
    This exceptional 4,114 square foot commercial building, situated on a 0.09-acre lot at 50 S 2nd Street in Fairfield, IA, presents a unique investment opportunity. Boasting high visibility from Highway 34 and direct frontage on Highway 1, this property offers significant exposure for any business. The main level currently houses a restaurant, complete with an entry area, a spacious dining area with seating for 65-70 patrons, a well-equipped serving and register area, a functional kitchen, ample storage, and restrooms. The upper level presents versatile space, suitable for conversion into a two- to three-bedroom apartment (requiring kitchen installation) or as an office space, depending on the buyer's needs. A substantial basement provides extensive storage capacity. Convenient public parking is readily available, supplemented by ample off-street parking directly adjacent to the property and across from a municipal parking lot. Priced at $275,000, this property offers a compelling blend of established commercial space and significant development potential, making it an ideal acquisition for a savvy investor or entrepreneur. The east-facing orientation ensures excellent natural light throughout the building. This is a rare opportunity to own a well-located commercial property with multiple income streams.

    Property Features for 50 2Nd St

    General Information

    Property type
    Other commercial real estate
    Square Feet
    4,114 SF
    Lot Size
    3,920 SF

    Building Details

    Year Built
    1920
    Property Profile Location Intelligence

    Current Use by Public Records

    Istanbul Grill Turkish Restaurant

    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.

    Location Insight

    • Map
    • Local Demand
    City
    Fairfield
    County
    Jefferson
    State
    Iowa
    Longitude
    -91.96542
    Latitude
    41.0071

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    FAQs

    What type of property is this?
    Commercial real estate - Prime Location, Restaurant & Apartment Potential
    Where is this commercial real estate located?
    The property is located at 50 2Nd St Fairfield, IA.
    What is the asking price?
    The asking price for this property is $275,000.
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    50 2Nd St Fairfield, IA 52556
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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
    50 2Nd St Fairfield, IA 52556
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