122 Frederick Ave Oelwein, IA 50662-2303

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.