Mixed-Use Downtown
For Sale
$499,900
122 & 120 E Bremer Avenue, Waverly, IA 50677
SINGLE_FAMILY - Waverly, IA
Lot Size0.14 Acres
Days on Market48
Property Features for 122 & 120 E Bremer Avenue
General Information
Property type
Residential
Property subtype
Office
Zoning
C-3
Directions
Use Google Maps
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
Legal 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)
Utilities
Utilities
Water Available
Sewer type
Public Sewer
Heating system
Electric (Heating), Forced Air, Natural Gas
Cooling system
Central Air, Multi Units
Building Details
Year built
1870
Building materials
Brick
Listing Agency:
Century 21 Signature Real Estate-Waverly · Century 21 Real Estate
(319) 352-1157
Listed By:
Timothy Lalk · License #S71966000
(319) 504-9351
Added: Jun 15
Changed: Jul 29
Last Checked: Aug 1 at 6:06PM
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.
Investment Insights
Based on property information with market context.
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.
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.
Key Highlights
- Two side‑by‑side historic commercial buildings at 120 and 122 E Bremer Avenue in downtown Waverly (combined sale).
- Brick construction with centralized cooling and forced‑air heating using natural gas and electric heat.
- Main floor includes multiple commercial units with storefront exposure along a busy downtown corridor.
Property Analytics
Property Profile
Current Use
Lease Details
6
Residential units
Multi-tenant
Tenancy
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
Questions? Ask Rey
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Frequently Asked Questions
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 commercial buildings at 120 and 122 E Bremer Avenue in downtown Waverly (combined sale).; Brick construction with centralized cooling and forced‑air heating using natural gas and electric heat.; Main floor includes multiple commercial units with storefront exposure along a busy downtown corridor.
