Former Bank Building with
For Sale
Contact for pricing
Pending
407 Main Street, Bedford, IA 50833
A former bank building featuring a main-level fitness center and three upstairs apartments, plus updated building systems.
Property SizeContact for details
Days on Market95
Property Features for 407 Main Street
General Information
Standard status
Pending
Total Parking Spaces
6
Property subtype
Retail, Office, Hospitality, Industrial, Business for Sale, Special Purpose, Land
Zoning
Business/Commercial,Resi
Units
Multifamily Units
3
Office Units
3
Additional Details
Business Included
Yes
Building Details
Year Built
1904
Stories
2
Units
4
Tenancy
Multi
Listing Agency:
Red Brick Realty
Listed By:
Douglas Thompson · License #IA S41071000
(712) 621-6464
Source:
Crexi
Added: Jun 2
Changed: Aug 8
Last Checked: Jul 24 at 5:39AM
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 Red Brick Realty
Investment Insights
Based on property information with market context.
This former historic bank building has been reimagined for dual commercial and residential use. The main level currently operates as a fitness center and includes energy-efficient lighting and fresh flooring, with a layout described as adaptable for retail use that includes three dedicated offices. Upstairs, there are three apartments: one studio and two 1 bed/1 bath units. The apartments feature new paint, updated vanities, modern countertops, and new range/refrigerator; the studio also includes a brand-new heating and cooling system. Additional in-unit convenience includes a new washer and dryer.
The building includes behind-the-scenes infrastructure improvements intended to reduce ongoing maintenance. A newly installed electrical service is metered separately for each apartment, and plumbing has been updated throughout. The property also includes numerous cosmetic improvements. The roof features a navigation satellite setup, described as generating additional income for the owner. Buyers have the option to purchase existing gym equipment if they want to keep the fitness operations in place.
For an owner-operator or investor, the mix of an income-generating fitness center and three residential units can support a diversified property structure. With metered electrical for the apartments, updated plumbing, and recent unit finishes, the building is positioned for straightforward day-to-day management. The convertible main-level layout provides additional flexibility for tenants looking for commercial or office-oriented space in a single property.
The building includes behind-the-scenes infrastructure improvements intended to reduce ongoing maintenance. A newly installed electrical service is metered separately for each apartment, and plumbing has been updated throughout. The property also includes numerous cosmetic improvements. The roof features a navigation satellite setup, described as generating additional income for the owner. Buyers have the option to purchase existing gym equipment if they want to keep the fitness operations in place.
For an owner-operator or investor, the mix of an income-generating fitness center and three residential units can support a diversified property structure. With metered electrical for the apartments, updated plumbing, and recent unit finishes, the building is positioned for straightforward day-to-day management. The convertible main-level layout provides additional flexibility for tenants looking for commercial or office-oriented space in a single property.
Key Highlights
- 1904 former bank building converted to a mixed‑use property with a main‑level fitness center plus three upstairs apartments
- Upstairs unit mix includes 1 studio and two 1 bed/1 bath apartments, each with new paint, updated vanities, modern countertops, and range/refrigerator
- Three apartments have separate metering via newly installed electrical service (metered separately for each apartment)
Property Analytics
Property Profile
Current Use
Lease Details
3
Office units
3
Residential units
Multi-tenant
Tenancy
Turnkey business
Opportunity
Location Intelligence
Trade Area within ½ mile
174
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 50833, IA
2,338
Population
1,044
Households
2.2
Avg Household Size
42
Median Age
16%
College-Educated
92%
High-School Grad
212.9 sq mi
ZIP Area
11
Density / Sq Mi
$57,250
Median Household Income
$41,048
Median Earnings
$646
Median Rent
$99,800
Median Home Value
Market
Vacancy Rate% for Multifamily in Midwest region
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Similar Off Market Nearby
- Savanna Janssen — 409 Central Ave, Bedford, IA 50833
Frequently Asked Questions
What type of property is this?
Fitness center & gym - A former bank building featuring a main-level fitness center and three upstairs apartments, plus updated building systems.
Where is this fitness center & gym located?
The property is located at 407 Main Street Bedford, IA.
What is the asking price?
The asking price for this property is $140,000.
What are key features of this property?
This property features: 1904 former bank building converted to a mixed‑use property with a main‑level fitness center plus three upstairs apartments; Upstairs unit mix includes 1 studio and two 1 bed/1 bath apartments, each with new paint, updated vanities, modern countertops, and range/refrigerator; Three apartments have separate metering via newly installed electrical service (metered separately for each apartment)
