Building Details

Year built 1920

Listing Agency: Compass Real Estate of NW IA Show Phone

Listed By: Steven Brashears · License #S58624 Show Phone

Added: Jul 6 Changed: Sep 2 Last Checked: Sep 3 at 6:06AM

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MLS# 833673

Copyright © 2026 Northwest Iowa Regional Board of Realtors. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

Investment Insights

Based on property information with market context.

Located at 116-118 W 2nd in Schaller, Iowa, this commercial restaurant property includes a spacious interior configured for restaurant and bar operations. The sale includes furniture, fixtures, equipment, and inventory, along with restaurant and bar infrastructure. Interior finishes include exposed brick, plaster detailing, and a large bar area with a distinctive historic character.

The property comprises 0.24 acres and includes parcel #810442610035, which is used for outdoor seating and a beer garden. Built in 1920, the property offers both indoor hospitality space and an outdoor extension for seasonal gatherings. The site is associated with the Tipsy Goat restaurant and bar.

Key Highlights

• 0.24‑acre restaurant and bar property in Schaller, Iowa
• Furniture, fixtures, equipment, and inventory included
• Additional parcel #810442610035 provides outdoor seating and beer garden space

Property Analytics

Property Profile

Current Use

Conventional restaurants

Suggested Use

Top Pick Plumbing Service Building Supply Storage Facility (Bike/Boat/Book/etc) Store Big Box & Wholesale Store Auto Repair Shop

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

Turnkey business

Opportunity

Location Intelligence

Trade Area within ½ mile

91

Businesses Nearby

Well-served

Demand for This Use

Explore this area Business Placement

Demographics for 51503, IA

37,330

Population

16,154

Households

2.3

Avg Household Size

41

Median Age

30%

College-Educated

94%

High-School Grad

121.7 sq mi

ZIP Area

307

Density / Sq Mi

$76,064

Median Household Income

$46,986

Median Earnings

$964

Median Rent

$252,600

Median Home Value

Market

Vacancy Rate% for Retail in Midwest region

8% 2020

7.3% 2021

6.5% 2022

6% 2023

5.7% 2024

6.3% 2025

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Frequently Asked Questions

What type of property is this?

Conventional restaurant - Established restaurant and bar improvements include furnishings, equipment, inventory, and an adjoining outdoor gathering area.

Where is this conventional restaurant located?

The property is located at 116-118 W 2nd Schaller, IA.

What is the asking price?

The asking price for this property is $150,000.

What are key features of this property?

This property features: 0.24‑acre restaurant and bar property in Schaller, Iowa; Furniture, fixtures, equipment, and inventory included; Additional parcel #810442610035 provides outdoor seating and beer garden space