Mixed-Use Downtown Storefront and
For Sale
Contact for pricing
122 & 120 E Bremer Avenue, Waverly, IA 50677
Two side-by-side historic buildings offer storefront commercial units with six apartment units above and additional vacant space on the third floor.
Property Size14,900 SF
Price / SF$33.55
Days on Market56
Property Features for 122 & 120 E Bremer Avenue
General Information
Standard status
Active
Size
14,900 SF
Property subtype
Retail
Additional Details
Utilities to Site
Yes
Multifamily Units
6
Building Details
Year Built
1870
Listing Agency:
Century 21 Signature Real Estate Waverly
Listed By:
Tim Lalk · License #S71966000IA
Source:
Crexi
Added: Jun 17
Changed: Aug 8
Last Checked: Aug 11 at 5:17AM
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 Waverly
Investment Insights
Based on property information with market context.
This combined-sale package includes two side-by-side historic buildings, 120 and 122 E Bremer Avenue, with mixed-use space vertically arranged for multiple income and occupancy options. The main floor features multiple commercial units with storefront frontage for downtown-facing exposure. An expansive basement level provides substantial usable space that can support storage, workshops, or future tenant improvements. The second floor contains six apartment units, creating established residential income above the commercial spaces. The third floor includes vacant space that may be converted to additional apartments, creative studios, event space, or other uses based on an owner’s plans.
Located in downtown Waverly, the property is positioned to serve both foot-traffic and daytime business activity associated with a central commercial area. Being offered as adjacent buildings increases the overall main-street presence and supports an operator’s ability to diversify leasing across both structures.
For tenants, the configuration supports business operations on the ground level with residential units directly above. For buyers, the package provides a mixed-use platform combining storefront leasing, apartment income, and a third-floor expansion opportunity within the same ownership. The basement’s large, flexible space can also be a practical asset for support functions or staged redevelopment.
Located in downtown Waverly, the property is positioned to serve both foot-traffic and daytime business activity associated with a central commercial area. Being offered as adjacent buildings increases the overall main-street presence and supports an operator’s ability to diversify leasing across both structures.
For tenants, the configuration supports business operations on the ground level with residential units directly above. For buyers, the package provides a mixed-use platform combining storefront leasing, apartment income, and a third-floor expansion opportunity within the same ownership. The basement’s large, flexible space can also be a practical asset for support functions or staged redevelopment.
Key Highlights
- Two side‑by‑side historic commercial buildings at 120 and 122 E Bremer Avenue in downtown Waverly
- Main floor has multiple commercial units with storefront exposure along a busy downtown corridor
- Second floor includes six apartment units for established residential rental income
Property Analytics
Property Profile
Current Use
Lease Details
6
Residential units
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
479
Businesses Nearby
Explore this area
Business Placement
Demographics for 50677, IA
12,789
Population
5,053
Households
2.5
Avg Household Size
37
Median Age
41%
College-Educated
95%
High-School Grad
128.6 sq mi
ZIP Area
99
Density / Sq Mi
$82,950
Median Household Income
$39,065
Median Earnings
$880
Median Rent
$221,600
Median Home Value
Market
Vacancy Rate% for Multifamily in Midwest region
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Frequently Asked Questions
What type of property is this?
Apartment building - Two side-by-side historic buildings offer storefront commercial units with six apartment units above and additional vacant space on the third floor.
Where is this apartment building 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 commercial buildings at 120 and 122 E Bremer Avenue in downtown Waverly; Main floor has multiple commercial units with storefront exposure along a busy downtown corridor; Second floor includes six apartment units for established residential rental income
