122 & 120 E Bremer Avenue, Waverly, IA 50677

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.