West Okoboji Storage
2049 HWY 86 Milford, IA 51351
2049 HWY 86, Milford, IA, 51351
$230,000
For Sale
$230,000
COMMERCIAL - Milford, IA
Property Size2,304 SF
Price / SF$99.83
Days on Market178
Property Features for 2049 HWY 86
General Information
- Property type
- Commercial Sale
- Property subtype
- Other
- Standard status
- Active
- APN
- 06-35-177-056
- Size
- 2,304 SF
Taxes and HOA fees
- Tax Year
- 2024
- Tax Description
- UNIT 5-1 STONES THROW STORAGE CONDOMINIUM & UNIT 5-2 STONES THROW STORAGE CONDOMINIUM
Utilities
- Sewer type
- Public Sewer
- Water source
- Public
Building Details
- Year built
- 2024
- Building materials
- Metal 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: Jan 21 Checked: Jul 17 at 11:06 pm
MLS# 251652
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.
This storage condo is located on the west side of West Lake Okoboji. The 48' x 48' unit features high-quality construction. It is fully insulated and stubbed in for a half bathroom. The unit is an EPS with engineered ladder frame construction, and includes 2-14' x 14' Midland overhead doors. Exterior walls are 2x8 with R-27 insulation, while the interior dividing walls are 2x6 with R-19 insulation. The ceiling features R-44 blow-in insulation, and the interior walls are finished with metal paneling. Sidewalls are 16 feet high. Additional features include a LiftMaster overhead door opener with both wall-mounted and wireless remotes, natural gas service to the unit, and a 100-amp electrical panel with four lights and two outlets. The unit also has a floor drain and a curb stop for easy water shutoff.
Key Highlights
- Double storage condo (48' x 48') located on the west side of West Lake Okoboji.
- High‑quality construction with EPS and engineered ladder frame.
- Fully insulated: Exterior walls R‑27, interior walls R‑19, ceiling R‑44.
Local Financial Insights For Self Storage
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 | $30.4k | $13.20 |
| − Vacancy | −$2.6k | −$1.12 |
| EGI | $27.8k | $12.08 |
| − OpEx | −$8.3k | −$3.62 |
| NOI | $19.5k | $8.45 |
2,304 SF · lease $13.20/SF/yr · vacancy 8.50% · expense 30.00%
Alternative Uses
Best Use
Self Storage
$278.3K
$243.5K – $324.7K
NOI $19,479 @ 7.0% cap · market cap 8.47%
Second Best
Industrial
$149.1K
$130.5K – $174.0K
NOI $10,439 @ 7.0% cap · market cap 4.54%
Theoretical Best
Office A
$504.0K
$441.0K – $588.0K
NOI $35,279 @ 7.0% cap · market cap 15.34%
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 - 48' x 48' storage condo near West Lake Okoboji.
Where is this self storage facility located?
The property is located at 2049 HWY 86 Milford, IA.
What is the asking price?
The asking price for this property is $230,000.
What are key features of this property?
This property features: Double storage condo (48' x 48') located on the west side of West Lake Okoboji.; High‑quality construction with EPS and engineered ladder frame.; Fully insulated: Exterior walls R‑27, interior walls R‑19, ceiling R‑44.
