122 Frederick Ave Oelwein, IA 50662-2303

Property Details for 122 Frederick Ave

Year built

1890

Construction

BRICK

Lot size

0.07 lot acres

Property size

7,830 SF

Property type

Bars

Property subtype

Pubs

APN

1821330011

APU

1821330011

Description

This landmark 7,830 sq ft retail building in Oelwein, IA, presents a unique investment opportunity. Situated on a 0.07-acre lot at 122 S Frederick Avenue, the property boasts a beautifully preserved exterior and significant interior updates. The ground floor features a large, open space ideally suited for a restaurant, complete with high ceilings and a period serving bar. The upper two floors offer one-room sleeping accommodations, ripe for conversion into income-generating one-bedroom apartments. This presents a chance to create a mixed-use property with both retail and residential income streams. The building's historical significance is further enhanced by its eligibility for city revitalization grants. Oelwein has a history of providing grants up to $50,000 per applicant annually for building renovations, offering substantial potential for cost savings and increased return on investment. This is a chance to be part of Oelwein's revitalization and own a piece of its history. The property is priced affordably at $50,000, making it an attractive proposition for investors seeking a high-potential project with significant upside. The existing infrastructure provides a solid foundation for a successful venture, requiring only finishing touches to unlock its full potential. Don't miss this chance to acquire a piece of Oelwein's rich past and shape its exciting future.

Location Insight

City

Oelwein

County

Fayette

State

Iowa

Longitude

-91.9137

Latitude

42.6762

Property Tax & Assessments