Building Details

Building Size 1,152 SF

Year Built 2025

Listing Agency: Jensen Real Estate i***@buygreatlakes.com Show Phone

Listed By: Michael Jensen · License #7586 Show Phone

Source: Lakelandrealtyofiowa

Added: May 1, 2025 Changed: Oct 29 Last Checked: Oct 29 at 10:51PM

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Investment Insights

Based on property information with market context.

Scheduled for completion in 2025, this warehouse unit measures 24 feet by 48 feet, providing 1,152 square feet of interior area. The structure has 16-foot-4-inch side walls, a 14-foot-by-14-foot overhead door, and a 3-foot-by-6-foot-8-inch walk-in entrance. Each unit also includes 20-amp electrical service.

Personal-use electricity, building insurance, lawn care, and snow removal are covered through the HOA. The property is located in Milford, Iowa.

Key Highlights

• 1,152‑square‑foot warehouse unit measuring 24' x 48'
• 16'4" side walls
• 14' x 14' overhead door and 3' x 6'8" walk‑in door

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$6,338

Cap Rate

9.07%

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 9.07%

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 25.23%

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

Property Analytics

Who owns this building? See the owner, sales and loan history

Open Analytics

Current Use

Warehouses

Suggested Use

Top Pick Dental Office Real Estate Agency Auto Parts Store Restaurant Auto Repair Shop Big Box & Wholesale Store

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

194

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

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Frequently Asked Questions

What type of property is this?

Warehouse - A 20-amp electrical service supports practical storage and workspace needs in each unit.

Where is this warehouse located?

The property is located at 1804 P Avenue #83 Milford, IA.

What is the asking price?

The asking price for this property is $69,900.

What are key features of this property?

This property features: 1,152‑square‑foot warehouse unit measuring 24' x 48'; 16'4" side walls; 14' x 14' overhead door and 3' x 6'8" walk‑in door