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Waterloo Bar/Restaurant Opportunity
For Sale
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328 Elm Street, Waterloo, IA 50703

COMMERCIAL - Waterloo, IA

Property SizeContact for details
Lot Size0.18 Acres
Days on Market148

Property Features for 328 Elm Street

General Information

Property type Commercial Sale
Property subtype Office
Zoning M2
Directions North off Lafayette St
Standard status Active
APN 891325255009
Lot size 0.18 Acres

Taxes and HOA fees

Tax Year 2024
Tax Description LANE AND FOWLERS SECOND ADD LOT 4 AND ALSO THAT PART OF ELM ST DESC AS BEG AT SE COR OF LOT 10 BLK 14 SAID ADD TH N ALONG E LINE BLK 14 TO NE COR LOT 1 BLK 14 TH E TO NW COR OF LOT 4 BLK 13 TH S TO SW COR LOT 7 BLK 13 TH NWLY TO PT OF BEG EXC W 6 FTTHEREO
Tax Annual Amount 833
Legal Description LANE AND FOWLERS SECOND ADD LOT 4 AND ALSO THAT PART OF ELM ST DESC AS BEG AT SE COR OF LOT 10 BLK 14 SAID ADD TH N ALONG E LINE BLK 14 TO NE COR LOT 1 BLK 14 TH E TO NW COR OF LOT 4 BLK 13 TH S TO SW COR LOT 7 BLK 13 TH NWLY TO PT OF BEG EXC W 6 FTTHEREO

Utilities

Utilities Water Available
Sewer type Public Sewer

Building Details

Year built 1930
Building materials Frame
Listing Agency: RE/MAX Concepts - Cedar Falls · RE/MAX International
Listed By: Rick Bauer · License #B18473000
Added: Mar 31 Changed: Aug 18 Last Checked: Aug 25 at 4:06PM
MLS# 20261271

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 property, formerly Fortunes Bar, is available for sale in Waterloo, Iowa. The property is zoned M2. The 0.18-acre lot is situated adjoining several non profits including Operation Threshold, Waterloo Women's Center for Change, a Food Bank, and city-owned properties. The lot extends across Elm Street. The property has been used for storage and is currently vacant. The property is being sold as is.

Key Highlights

  • Large lot spanning Elm St.
  • Water available
  • Public sewer

Property Analytics

Current Use

Bars & Pubs

Suggested Use

Top Pick Pharmacy Big Box & Wholesale Store Real Estate Agency Skin Care Clinic Gym & Fitness Center Storage Facility

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

Location Intelligence

Trade Area within ½ mile

538
Businesses Nearby
8k
Monthly Visits Nearby
Well-served
Demand for This Use

Foot Traffic Nearby

Shops & Services 100%
Veridian Credit Union Shops & Services
4,869 visits/mo 0.1 miles
Advance Auto Parts Shops & Services
1,645 visits/mo 0.2 miles
Allsups Shops & Services
1,585 visits/mo 0.4 miles

Demographics for 50703, IA

18,913
Population
8,705
Households
2.2
Avg Household Size
38
Median Age
13%
College-Educated
87%
High-School Grad
93.2 sq mi
ZIP Area
203
Density / Sq Mi
$49,412
Median Household Income
$33,105
Median Earnings
$926
Median Rent
$92,500
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
Rey
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Frequently Asked Questions

What type of property is this?
Bar & Pub - Bar/Restaurant property for sale in Waterloo, Iowa.
Where is this bar & pub located?
The property is located at 328 Elm Street Waterloo, IA.
What are key features of this property?
This property features: Large lot spanning Elm St.; Water available; Public sewer
More about this property
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