418 E Coolbaugh St 7,020 SF 100% Leased Retail Building Red Oak, IA 51566 $482,206 CAD ($68.69 CAD/SF)

This mixed-use opportunity in the heart of Red Oak offers investors a compelling combination of stable residential income and high-visibility commercial space. The property features four well-maintained two-bedroom apartment units, each with access to common-area laundry and individual storage closets located just outside the unit doors.
In addition, the building includes two storefronts ready for tenant build out along a walkable downtown corridor with strong local traffic. Red Oak’s affordable housing market, loyal tenant base, and supportive business community contribute to reliable occupancy on both the residential and retail sides.
This historic building showcases classic Victorian architectural elements that reflect Red Oak’s late-19th-century downtown character. Its detailed brickwork, tall windows, and traditional façade capture the craftsmanship and charm typical of the period. The façade was freshly painted in 2015 in traditional colors, preserving its historic character while giving it a refreshed, well-maintained appearance.
Adding to its significance, the property was Red Oak’s original post office anchoring it in the town’s civic history. Buildings like this played a central role in early community life, serving not only as mail centers but also as gathering points and symbols of local progress. Its dual identity—as a Victorian-era commercial building and a former federal use—makes it a rare piece of Red Oak’s architectural and cultural heritage.