New Heated Storage
For Sale
$84,000
2045 Hwy 9 #94, Spirit Lake, IA 51360
Controlled-access storage with heating, automatic lighting, and paved circulation for convenient vehicle and recreational equipment access.
Property Size720 SF
Price / SF$116.67
Days on Market20
Property Features for 2045 Hwy 9 #94
General Information
Standard status
Active
Size
720 SF
Property subtype
Commercial
Building Details
Year Built
2025
Listing Agency:
RE/MAX Lakes Realty
Listed By:
Aaron Jones · License #7629
(712) 336-4967
Source:
Integrityiowa
Added: Sep 18
Changed: Oct 2
Last Checked: Oct 5 at 3:38PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of RE/MAX Lakes Realty
Investment Insights
Based on property information with market context.
Built in 2025, this self-storage unit provides approximately 720 square feet within an 18x40 layout. The space includes centrally controlled heating, a 12' x 14' automatic overhead door, 16' side walls, and a walk-in entry door. Tin interior finishes, an electrical outlet, and automatic high-bay LED lighting support practical storage use.
The facility includes a 24/7 secured gate and a fully paved lot with wide drive lanes. The configuration allows convenient backing and maneuvering for boats, pontoons, campers, and similar recreational equipment.
The facility includes a 24/7 secured gate and a fully paved lot with wide drive lanes. The configuration allows convenient backing and maneuvering for boats, pontoons, campers, and similar recreational equipment.
Key Highlights
- Approximately 720 square feet in an 18x40 storage unit
- 12' x 14' automatic overhead door with 16' side walls
- Centrally controlled heated storage space
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$6,087
Cap Rate
7.25%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$121,740
$121.7K
Cap Rate 7%
$86,957
$87.0K
Cap Rate 9%
$67,633
$67.6K
Market Conditions
NOI Build-Up for 720 SF
Gross rent
$9.5K $13.20/SF
− Vacancy
−$808 −$1.12/SF
EGI
$8.7K $12.08/SF
− OpEx
−$2.6K −$3.62/SF
NOI
$6.1K $8.45/SF
Area
Dickinson County, IA
Vacancy
8.50%
Lease Rate
$13.20 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$121,740
Cap Rate 7%
$86,957
Cap Rate 9%
$67,633
Alternative Uses
Best Use
Self Storage
$87.0K
$76.1K – $101.5K
NOI $6,087 @ 7.0% cap · market cap 7.25%
Second Best
Warehouse
$56.6K
$49.5K – $66.0K
NOI $3,961 @ 7.0% cap · market cap 4.72%
Theoretical Best
Office A
$157.5K
$137.8K – $183.8K
NOI $11,025 @ 7.0% cap · market cap 13.13%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
435
Businesses Nearby
Explore this area
Business Placement
Demographics for 51360, IA
8,553
Population
6,638
Households
1.3
Avg Household Size
49
Median Age
35%
College-Educated
97%
High-School Grad
105.2 sq mi
ZIP Area
81
Density / Sq Mi
$77,464
Median Household Income
$41,043
Median Earnings
$1,005
Median Rent
$256,000
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Industrial in Midwest region
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Frequently Asked Questions
What type of property is this?
Self storage facility - Controlled-access storage with heating, automatic lighting, and paved circulation for convenient vehicle and recreational equipment access.
Where is this self storage facility located?
The property is located at 2045 Hwy 9 #94 Spirit Lake, IA.
What is the asking price?
The asking price for this property is $84,000.
What are key features of this property?
This property features: Approximately 720 square feet in an 18x40 storage unit; 12' x 14' automatic overhead door with 16' side walls; Centrally controlled heated storage space
