1225 Fredrick Ave Oelwein, IA 50662

This unique commercial property located at 1225 Fredrick Ave, Oelwein, IA 50662, presents a compelling investment opportunity. Priced at $50,000, this special-purpose building offers significant potential for redevelopment. The property features a substantial first-floor space, previously configured as a restaurant, boasting high ceilings and a preserved serving bar. The upper two floors contain rooms suitable for conversion into one-bedroom apartments, creating a potential for steady monthly rental income. Extensive preservation and updates have already been completed to the building's exterior and interior. The City of Oelwein has a history of providing grants for building revitalization projects, with past grants reaching up to $50,000 per applicant annually. This landmark building is ready for an investor to complete its transformation and capitalize on its historical significance and prime location in Fayette County, Iowa. This is a chance to be part of Oelwein's revitalization and secure a promising return on investment.