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Mixed-Use Downtown Buildings

122 & 120 E Bremer Avenue, Waverly, IA 50677

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For Sale

$499,900

SINGLE_FAMILY - Waverly, IA

Type:Office

Lot size:

0.14 Acres

HighLights

Two side‑by‑side historic downtown commercial buildings at 120 and 122 E Bremer Avenue, offered as a combined sale.
Main floor features multiple commercial units with storefront exposure along a busy downtown corridor.
Second floor includes six apartment units for established residential rental income above the commercial spaces.
Third floor offers vacant space ready for conversion into additional apartments, studios, event space, or other uses.
Expansive basement level provides substantial usable space for storage, workshops, or future tenant amenities.
Brick construction with central air cooling and forced‑air heating (natural gas and electric).

We can help!

Listing Contact

Timothy Lalk

For Sale

$499,900

SINGLE_FAMILY - Waverly, IA

Type:Office

Lot size:

0.14 Acres

Added:: Jun 15, 2026
Days on Market:: 2
Last Refresh:: Jun 16 at 7:06 pm

Property Features for 122 & 120 E Bremer Avenue

General Information

Property type: Residential
Property subtype: Office
Zoning: C-3
Standard status: Active
APN: 0902177011
Lot size: 0.14 Acres

Taxes and HOA fees

Tax Year: 2025
Tax Description: 02-91-14 ORIGINAL WAVERLY E 1/3 LOT 1 BLK 6 (122) 02-91-14 ORIGINAL WAVERLY W 1/2 E 2/3 LOT 1 BLK 6 (120)
Tax Annual Amount: 9782

Utilities

Utilities: Water Available
Sewer type: Public Sewer
Heating system: Natural Gas, Electric (Heating), Forced Air
Cooling system: Multi Units, Central Air

Building Details

Year built: 1870
Building materials: Brick

We can help!

Listing Contact

Timothy Lalk

Listing agent Timothy Lalk License #S71966000

Listing office Century 21 Signature Real Estate-Waverly 805 W. Bremer Ave, Cedar Falls, IA

Listing date Jun 15, 2026

MLS# 20262708

Copyright © 2026 Northeast 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.

HighLights

Two side‑by‑side historic downtown commercial buildings at 120 and 122 E Bremer Avenue, offered as a combined sale.
Main floor features multiple commercial units with storefront exposure along a busy downtown corridor.
Second floor includes six apartment units for established residential rental income above the commercial spaces.
Third floor offers vacant space ready for conversion into additional apartments, studios, event space, or other uses.
Expansive basement level provides substantial usable space for storage, workshops, or future tenant amenities.
Brick construction with central air cooling and forced‑air heating (natural gas and electric).

Overview

This combined sale offers two side-by-side historic buildings at 120 and 122 E Bremer Avenue. The main floor is configured with multiple commercial units designed for storefront use, with space that can support a range of retail or service tenants. Below, an expansive basement level provides substantial usable space that may be used for storage, workshops, tenant-related needs, or other adaptive uses. The second floor contains six apartment units, creating established residential income above the commercial level. The third floor includes vacant space that is ready for conversion, offering options for additional apartments, creative or studio space, event use, or another tenant- or owner-directed concept.

The property is offered as a downtown mixed-use package in Waverly, Iowa, and is listed under zoning C-3. Its two-building configuration gives the site a continuous presence with adjacent storefront frontage, along with vertical space for both ongoing occupancy and future reconfiguration.

For tenants and owner-occupants, the layout supports mixed-use operations where commercial activity is complemented by residential units above. For investors, the existing combination of commercial units, six apartments, and additional third-floor conversion space provides multiple ways to stabilize occupancy and tailor future uses, subject to applicable approvals under the C-3 zoning designation.

Property Profile Location Intelligence

Current Use by Public Records

Storefront properties

Suggested Use

Location Insight

Map
Local Demand

City: Waverly
County: Bremer
State: Iowa
Longitude: -92.468356
Latitude: 42.725482

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For sale
Mixed-use properties
IA
Waverly
50677
122 & 120 E Bremer Avenue

What type of property is this?

Mixed-use property - Two adjacent historic buildings combine storefront units, basement space, and apartments, with additional vacant third-floor conversion potential.

Where is this mixed-use property located?

The property is located at 122 & 120 E Bremer Avenue Waverly, IA.

What is the asking price?

The asking price for this property is $499,900.

What are key features of this property?

This property features: Two side‑by‑side historic downtown commercial buildings at 120 and 122 E Bremer Avenue, offered as a combined sale.; Main floor features multiple commercial units with storefront exposure along a busy downtown corridor.; Second floor includes six apartment units for established residential rental income above the commercial spaces.

122 & 120 E Bremer Avenue, Waverly, IA 50677

SINGLE_FAMILY - Waverly, IA

Property Features for 122 & 120 E Bremer Avenue

General Information

Taxes and HOA fees

Utilities

Building Details

We can help!

HighLights

Overview

Current Use by Public Records

Suggested Use

Location Insight

Nearby Similar for Sale

Versatile Retail-Office Building with Parking

Mixed-Use Building with Apartments

Updated Duplex with Separate Utilities

Waverly Multifamily Income Property

Waverly Industrial Space For Sale

Waverly Commercial Property on 4th

Insulated Storage Unit For Sale

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