Warehouse Unit with Two Overhead
For Sale
$350,000
701 240th Avenue #6, Arnolds Park, IA 51331
Heated space with electricity and water and plumbing connections supports a range of storage and work uses.
Property Size3,500 SF
Price / SF$100
Days on Market547
Property Features for 701 240th Avenue #6
General Information
Standard status
Active
Size
3,500 SF
Property subtype
Commercial
Additional Details
Drive-In Doors
2
Property Use
Self Storage
Building Details
Building Size
3,500 SF
Year Built
1994
Listing Agency:
Keller Williams Okoboji
(712) 340-7900
Listed By:
George Carlson · License #S70587
(712) 320-4994
Source:
Lakelandrealtyofiowa
Added: May 2, 2025
Changed: Oct 29
Last Checked: Oct 29 at 10:41PM
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 Keller Williams Okoboji
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Investment Insights
Based on property information with market context.
This 3,500-square-foot warehouse unit was built in 1994 and includes heat and electricity, with water and plumbing stubbed in. Two overhead doors, each 14 feet high, open from different points in the unit, providing access through the space.
Key Highlights
- 3,500 square feet of warehouse space
- Two 14‑foot‑high overhead doors with access from different points
- Heat and electricity installed
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$19,257
Cap Rate
5.50%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$385,140
$385.1K
Cap Rate 7%
$275,100
$275.1K
Cap Rate 9%
$213,967
$214.0K
Market Conditions
NOI Build-Up for 3,500 SF
Gross rent
$24.4K $6.96/SF
− Vacancy
−$1.7K −$0.49/SF
EGI
$22.7K $6.47/SF
− OpEx
−$3.4K −$0.97/SF
NOI
$19.3K $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%
$385,140
Cap Rate 7%
$275,100
Cap Rate 9%
$213,967
Alternative Uses
Best Use
Warehouse
$275.1K
$240.7K – $321.0K
NOI $19,257 @ 7.0% cap · market cap 5.50%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$765.6K
$669.9K – $893.2K
NOI $53,592 @ 7.0% cap · market cap 15.31%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
Who owns this building?
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Current Use
Lease Details
2
Drive-in doors
Location Intelligence
Trade Area within ½ mile
89
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 51331, IA
1,102
Population
1,622
Households
0.7
Avg Household Size
61
Median Age
42%
College-Educated
98%
High-School Grad
1.6 sq mi
ZIP Area
689
Density / Sq Mi
$84,615
Median Household Income
$41,765
Median Earnings
$718
Median Rent
$415,800
Median Home Value
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Market
Vacancy Rate% for Industrial in Midwest region
Frequently Asked Questions
What type of property is this?
Warehouse - Heated space with electricity and water and plumbing connections supports a range of storage and work uses.
Where is this warehouse located?
The property is located at 701 240th Avenue #6 Arnolds Park, IA.
What is the asking price?
The asking price for this property is $350,000.
What are key features of this property?
This property features: 3,500 square feet of warehouse space; Two 14‑foot‑high overhead doors with access from different points; Heat and electricity installed
