Heated Warehouse Condo
For Sale
$99,500
21425 214 Circle, Milford, IA 51351
COMMERCIAL, Milford, IA
Property Size1,500 SF
Price / SF$66.33
Days on Market44
Property Features for 21425 214 Circle
General Information
Property type
Commercial Sale
Property subtype
Other
Parking features
Open, Driveway
Directions
GPS
Subdivision
Dickinson
Standard status
Active
APN
021-10-12-336-005
Taxes and HOA fees
Tax Year
2025
Tax Description
Unit 5 Mill Creek Condos, Milford, DCI. Exact legal per Abstract.
Tax Annual Amount
486
Legal Description
Unit 5 Mill Creek Condos, Milford, DCI. Exact legal per Abstract.
Utilities
Heating system
Space Heater, Wall Furnace
Building Details
Year built
2010
Building materials
Steel Siding
Roof type
Metal
Listing Agency:
Hinn Real Estate
(712) 336-1240
Listed By:
Keith Diekevers
(712) 320-5020
Added: Aug 26
Changed: Sep 28
Last Checked: Oct 8 at 7:06AM
MLS# 261061
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 2010 warehouse condo provides a 30' x 50' storage unit within the Mill Creek Business and Storage Complex. The interior includes a 20' x 30' heated shop, a storage loft reached by stairway, a 14' x 14' overhead door, and a 36" side entry door. Steel siding and a metal roof complete the structure, with heating provided by a space heater and wall furnace.
The property is located at 21425 214 Circle in Milford, Iowa, on the east side of the complex and south of Milford Middle School. On-site access includes a driveway and open parking area.
The property is located at 21425 214 Circle in Milford, Iowa, on the east side of the complex and south of Milford Middle School. On-site access includes a driveway and open parking area.
Key Highlights
- 30' x 50' warehouse condo storage unit
- 20' x 30' heated shop area
- 14' x 14' overhead door plus 36" side entry door
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$8,253
Cap Rate
8.29%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$165,060
$165.1K
Cap Rate 7%
$117,900
$117.9K
Cap Rate 9%
$91,700
$91.7K
Market Conditions
NOI Build-Up for 1,500 SF
Gross rent
$10.4K $6.96/SF
− Vacancy
−$731 −$0.49/SF
EGI
$9.7K $6.47/SF
− OpEx
−$1.5K −$0.97/SF
NOI
$8.3K $5.50/SF
Area
Dickinson County, IA
Vacancy
7.00%
Lease Rate
$6.96 /SF/Yr
Expense Ratio
15.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$165,060
Cap Rate 7%
$117,900
Cap Rate 9%
$91,700
Alternative Uses
Best Use
Warehouse
$117.9K
$103.2K – $137.6K
NOI $8,253 @ 7.0% cap · market cap 8.29%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$328.1K
$287.1K – $382.8K
NOI $22,968 @ 7.0% cap · market cap 23.08%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
246
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 51351, IA
4,844
Population
3,104
Households
1.6
Avg Household Size
45
Median Age
31%
College-Educated
97%
High-School Grad
108.0 sq mi
ZIP Area
45
Density / Sq Mi
$67,628
Median Household Income
$39,913
Median Earnings
$904
Median Rent
$256,100
Median Home Value
Market
Vacancy Rate% for Industrial in Midwest region
Questions? Ask Rey
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Similar Off Market Nearby
- MaxYield Cooperative — 1110 P Ave, Milford, IA 51351
- Green Plains Grain Co LLC — 1110 P Ave, Milford, IA 51351
- A 1 Storage — 1504 P Ave, Milford, IA 51351
- Milford Storage LLC — 1810 N Ave, 903 Q Ave, Milford, IA 51351
Frequently Asked Questions
What type of property is this?
Warehouse - Steel-sided storage condo with a heated shop, storage loft, overhead door, and separate side entry.
Where is this warehouse located?
The property is located at 21425 214 Circle Milford, IA.
What is the asking price?
The asking price for this property is $99,500.
What are key features of this property?
This property features: 30' x 50' warehouse condo storage unit; 20' x 30' heated shop area; 14' x 14' overhead door plus 36" side entry door
