New Storage Units For
1804 P Avenue Milford, IA 51351
1804 P Avenue, Milford, IA, 51351
$69,900
For Sale
$69,900
COMMERCIAL - Milford, IA
Property Size1,152 SF
Price / SF$60.68
Days on Market444
Property Features for 1804 P Avenue
General Information
- Property type
- Commercial Sale
- Property subtype
- Other
- Property condition
- Under Construction
- Parking features
- Driveway
- Security features
- Security Lighting
- Exterior features
- Security Lighting
- Standard status
- Active
- Size
- 1,152 SF
Taxes and HOA fees
- Tax Year
- 2023
- Tax Description
- TBD: UNIT #84 PELICAN BAY STORAGE CONDOMINIUMS. CITY OF MILFORD. DICKINSON COUNTY, IOWA
Building Details
- Year built
- 2025
- Building materials
- Steel Siding
- Roof type
- Metal
Listing Agency
Jensen Real Estate
(712) 332-8081
PO Box 721, Arnolds Park, IA
Listed by
Michael Jensen · License #B58673
(712) 320-7245
Added: May 1, 2025 Checked: Jul 17 at 11:06 pm
MLS# 250519
Copyright © 2026 Iowa Great Lakes Board of Realtors. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
Construction is nearing completion for these new storage units, scheduled for 2025. Each unit measures 24' x 48', providing 1,152 sq. ft. of space, and features 16'4" side walls. Access is facilitated by a 14' x 14' overhead door and a 3' x 6'8" walk-in door. Every unit includes a 20-amp electrical service, with electricity costs covered by the Homeowner's Association (HOA). The annual HOA fee is $300, which covers personal-use electricity, building insurance, lawn care, and snow removal.
Key Highlights
- Brand new 2025 construction storage units
- Large 24' x 48' (1,152 sq. ft.) unit size with 16'4" sidewalls
- HOA covers personal‑use electricity, building insurance, lawn care, and snow removal
Local Financial Insights For Industrial
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $8.0k | $6.96 |
| − Vacancy | −$561 | −$0.49 |
| EGI | $7.5k | $6.47 |
| − OpEx | −$2.2k | −$1.94 |
| NOI | $5.2k | $4.53 |
1,152 SF · lease $6.96/SF/yr · vacancy 7.00% · expense 30.00%
Alternative Uses
Best Use
Self Storage
$139.1K
$121.8K – $162.3K
NOI $9,740 @ 7.0% cap · market cap 13.93%
Second Best
Industrial
$74.6K
$65.3K – $87.0K
NOI $5,220 @ 7.0% cap · market cap 7.47%
Theoretical Best
Office A
$252.0K
$220.5K – $294.0K
NOI $17,639 @ 7.0% cap · market cap 25.23%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Self storage facilities
Similar For Sale Nearby
FAQs
What type of property is this?
Self storage facility - Spacious storage units with convenient access, available in 2025.
Where is this self storage facility located?
The property is located at 1804 P Avenue Milford, IA.
What is the asking price?
The asking price for this property is $69,900.
What are key features of this property?
This property features: Brand new 2025 construction storage units; Large 24' x 48' (1,152 sq. ft.) unit size with 16'4" sidewalls; HOA covers personal‑use electricity, building insurance, lawn care, and snow removal
