Warehouse with Three Overhead
16390 252nd Avenue, Spirit Lake, IA 51360
For Sale
New
$365,000
Concrete flooring and an additional lot support storage use and provide room for parking or another structure.
Property Size4,000 SF
Price / SF$91.25
Days on Market1
Property Features for 16390 252nd Avenue
General Information
Standard status
Size
Property subtype
Additional Details
Warehouse Space
Property Use
Building Details
Building Size
Year Built
Buildings
Listing Agency:
RE/MAX Lakes Realty
Listed By:
Deb Goetzinger · License #B27135
(712) 330-1232
Source:
Clarkenrealtors
Added: Nov 6
Last Checked: Nov 6 at 2:25PM
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
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Investment Insights
Based on property information with market context.
This 4,000-square-foot warehouse was built in 2017 and has concrete floors throughout. Its 50-by-80-foot layout includes three overhead doors, each measuring 12 feet wide by 14 feet high. The building can be used in its current configuration, with the door arrangement also offering a basis for considering subdivision.
An additional lot is included with the property and can accommodate parking or a future structure.
An additional lot is included with the property and can accommodate parking or a future structure.
Key Highlights
- 4,000‑square‑foot warehouse built in 2017
- Three overhead doors, each 12 feet wide by 14 feet high
- 50‑by‑80‑foot building with concrete floors throughout
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$22,008
Cap Rate
6.03%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$440,160
$440.2K
Cap Rate 7%
$314,400
$314.4K
Cap Rate 9%
$244,533
$244.5K
Market Conditions
NOI Build-Up for 4,000 SF
Gross rent
$27.8K $6.96/SF
− Vacancy
−$1.9K −$0.49/SF
EGI
$25.9K $6.47/SF
− OpEx
−$3.9K −$0.97/SF
NOI
$22.0K $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%
$440,160
Cap Rate 7%
$314,400
Cap Rate 9%
$244,533
Alternative Uses
Best Use
Warehouse
$314.4K
$275.1K – $366.8K
NOI $22,008 @ 7.0% cap · market cap 6.03%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$875.0K
$765.6K – $1.02M
NOI $61,248 @ 7.0% cap · market cap 16.78%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
Who owns this building?
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
29
Businesses Nearby
Well-served
Demand for This Use
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
$256,000
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Average Price Trend$/SF for Warehouses in Dickinson County, IA
Properties on Market for Warehouses in Dickinson County
Vacancy Rate% for Industrial in Midwest region
Frequently Asked Questions
What type of property is this?
Warehouse - Concrete flooring and an additional lot support storage use and provide room for parking or another structure.
Where is this warehouse located?
The property is located at 16390 252nd Avenue Spirit Lake, IA.
What is the asking price?
The asking price for this property is $365,000.
What are key features of this property?
This property features: 4,000‑square‑foot warehouse built in 2017; Three overhead doors, each 12 feet wide by 14 feet high; 50‑by‑80‑foot building with concrete floors throughout
