Building Details

Year Built 2021

Listing Agency: Keller Williams Okoboji

Listed By: Josh Schaben · License #8289 Show Phone

Source: Integrityiowa

Added: Oct 23 Last Checked: Oct 23 at 5:30PM

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Investment Insights

Based on property information with market context.

This warehouse unit contains 1,152 square feet in a 24' x 48' configuration and was built in 2021. Interior features include a gas furnace, toilet, large sink, floor drain, loft, and overhead storage. The unit is suited to equipment and vehicle storage as well as hobby or project use.

The property is at 1306 Jeppeson Road #11 in West Okoboji, near West Okoboji-area attractions and public boat ramps. Its location provides access to the Iowa Great Lakes area.

Key Highlights

• 1,152‑square‑foot warehouse unit measuring 24' x 48'
• Built in 2021
• Gas furnace, toilet, large sink, and floor drain

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$6,338

Cap Rate

3.99%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$126,760 $126.8K

Cap Rate 7%

$90,543 $90.5K

Cap Rate 9%

$70,422 $70.4K

Is this asking price fair?

Market Conditions

NOI Build-Up for 1,152 SF

Gross rent

$8.0K $6.96/SF

− Vacancy

−$561 −$0.49/SF

EGI

$7.5K $6.47/SF

− OpEx

−$1.1K −$0.97/SF

NOI

$6.3K $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%

$126,760

Cap Rate 7%

$90,543

Cap Rate 9%

$70,422

Alternative Uses

Best Use

Warehouse

$90.5K

$79.2K – $105.6K (±1% cap)

NOI $6,338 @ 7.0% cap · market cap 3.99%

Second Best

—

—

no second resolved use

Theoretical Best

Office A

$252.0K

$220.5K – $294.0K (±1% cap)

NOI $17,639 @ 7.0% cap · market cap 11.09%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

Current Use

Warehouses

Suggested Use

Top Pick Real Estate Agency Auto Repair Shop Plumbing Service (Bike/Boat/Book/etc) Store Auto Parts Store Hair Salon

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Location Intelligence

Trade Area within ½ mile

65

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

4.4% 2019

4.9% 2020

3.6% 2021

3.1% 2022

4.6% 2023

5% 2024

4.9% 2025

Similar Off Market Nearby

• 86 It Storage — 2155 IA-86, Milford, IA 51351
• Right Size Storage — 1293 28th St, Milford, IA 51351

Frequently Asked Questions

What type of property is this?

Warehouse - A heated, utility-equipped space offers storage capacity for equipment, vehicles, and hobby projects.

Where is this warehouse located?

The property is located at 1306 Jeppeson Road #11 West Okoboji, IA.

What is the asking price?

The asking price for this property is $159,000.

What are key features of this property?

This property features: 1,152‑square‑foot warehouse unit measuring 24' x 48'; Built in 2021; Gas furnace, toilet, large sink, and floor drain