Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Back to Search

    2201 Okoboji Milford, IA 51351

    View on Map
    Claim this Listing
    Picture of Commercial land at 2201 Okoboji, Milford, IA
    For Sale
    $225,000

    Commercial - Milford, IA

    Lot size:
    0.33 Acres
    Added:
    Jun 1, 2023
    Days on Market:
    1070
    Last Refresh:
    May 5 at 9:06 pm

    Property Features for 2201 Okoboji

    General Information

    Property type
    Land
    Property subtype
    Other
    Standard status
    Active
    APN
    10-01-276-013
    Lot size
    0.33 Acres

    Taxes and HOA fees

    Tax Year
    2023
    Tax Annual Amount
    1134

    Building Details

    Architectural style
    Other

    We can help!

    Listing Contact
    Richard Ortman

    Listing agent Richard Ortman License #B41619

    Listing office United Country Iowa Lakes Realty 1009 10th St., Milford, IA

    Listing date Jun 1, 2023

    MLS# 230566 Listing URL

    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.

    Overview

    Commercial Land on Highway 71

    This commercial land is a corner lot with frontage on Highway 71. It is located in the new business area of Milford, Iowa. The lot size is 0.33 acres.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Commercial land

    Suggested Use

    Restaurant Real Estate Agency Law Firm Building Supply Dental Office Spa & Massage Center Big Box & Wholesale Store Auto Repair Shop Hair Salon Nail Salon

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Milford
    County
    Dickinson
    State
    Iowa
    Longitude
    -95.1522975
    Latitude
    43.3406821

    Nearby Similar for Sale

    • $2,200,000

      Highway Frontage Commercial Land

      5.43-acre commercial land with highway frontage and income potential.
      00 HWY 71 N, Milford, IA 51351
      View Details
    • $1,100,000

      Multifamily Property on Highway 71

      Income-producing multifamily property with strong rental history and flexible income potential.
      2212 Okoboji, Milford, IA 51351
      View Details
    • $410,000

      Three-Parcel Commercial Property in Milford

      High-traffic location with income and development potential near Highway 71.
      1804 Okoboji Avenue, Milford, IA 51351
      View Details
    • $120,000
      1,152 SF

      Milford Storage Condo For Sale

      24' x 48' storage condo near West Lake Okoboji.
      2049 HWY 86 5-5, Milford, IA 51351
      View Details
    • $120,000
      1,152 SF

      Milford Storage Condo For Sale

      24' x 48' storage condo near West Lake Okoboji.
      2049 HWY 86 5-6, Milford, IA 51351
      View Details
    • $120,000
      1,152 SF

      Milford Storage Condo For Sale

      24' x 48' storage condo near West Lake Okoboji.
      2049 HWY 86 4-14, Milford, IA 51351
      View Details
    • $230,000
      2,304 SF

      West Okoboji Storage Condo

      48' x 48' storage condo near West Lake Okoboji.
      2049 HWY 86 5-1/2, Milford, IA 51351
      View Details
    • $69,900
      1,152 SF

      New Storage Units Nearing Completion

      Spacious storage units (1,152 sq. ft.) available in 2025.
      1804 P Avenue 83, Milford, IA 51351
      View Details
    • $69,900
      1,152 SF

      New Storage Units For Sale

      Spacious storage units (1,152 sq. ft.) nearing completion in 2025.
      1804 P Avenue 86, Milford, IA 51351
      View Details
    • $261,000

      Milford, Iowa Acreage For Sale

      9.63 acre corner lot ready for your dream home.
      2715 270Th Avenue, Milford, IA 51351
      View Details
    • $69,900
      1,152 SF

      New Storage Units For Sale

      Spacious storage units with convenient access, ready in 2025.
      1804 P Avenue 79, Milford, IA 51351
      View Details
    • $69,900
      1,152 SF

      New Storage Units For Sale

      Spacious storage units with convenient access, ready in 2025.
      1804 P Avenue 78, Milford, IA 51351
      View Details

    FAQs

    What type of property is this?
    Commercial land - Corner lot with highway frontage in new business area.
    Where is this commercial land located?
    The property is located at 2201 Okoboji Milford, IA.
    What is the asking price?
    The asking price for this property is $225,000.
    What are key features of this property?
    This property features: Corner lot location; Highway 71 frontage; Located in the new business area of Milford
    (712) 330-2452
    We can help!
    Listing Contact
    Richard Ortman
    Real Estate License ID: B41619
    Learn More
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry
    2201 Okoboji, Milford, IA 51351
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!