New Construction Storage Units
1804 P Avenue 85, Milford, IA 51351
For Sale
$69,900
Spacious storage units (1,152 sq. ft.) nearing completion.
Property Size1,152 SF
Price / SF$60.68
Days on Market533
Property Features for 1804 P Avenue 85
General Information
Standard status
Size
Property subtype
Building Details
Year Built
Listing Agency:
Jensen Real Estate
Listed By:
Michael Jensen · License IA B58673
(712) 320-7245
Source:
Exitrealty
Added: May 29, 2025
Changed: Oct 25
Last Checked: Oct 7 at 9:26AM
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 Jensen Real Estate
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Investment Insights
Based on property information with market context.
Construction is nearing completion on these storage units, scheduled for availability in 2025. Each unit provides 1,152 square feet of space, measuring 24' x 48', and features 16'4" side walls. Access is facilitated by a 14' x 14' overhead door and a 3' x 6'8" walk-in door. Each unit includes a 20-amp electrical service, with electricity costs covered by the Homeowners Association (HOA). The annual HOA fee is $300, which covers personal-use electricity, building insurance, lawn care, and snow removal.
Key Highlights
- Spacious 1,152 sq. ft. storage unit (24' x 48').
- Brand new construction for 2025.
- 16'4" side walls and 14' x 14' overhead door.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$5,220
Cap Rate
7.47%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$104,400
$104.4K
Cap Rate 7%
$74,571
$74.6K
Cap Rate 9%
$58,000
$58.0K
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
−$2.2K −$1.94/SF
NOI
$5.2K $4.53/SF
Area
Dickinson County, IA
Vacancy
7.00%
Lease Rate
$6.96 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$104,400
Cap Rate 7%
$74,571
Cap Rate 9%
$58,000
Alternative Uses
Best Use
Self Storage
$139.1K
$121.8K – $162.3K
NOI $9,740 @ 7.0% cap · market cap 13.93%
Second Best
Industrial
$74.6K
$65.3K – $87.0K
NOI $5,220 @ 7.0% cap · market cap 7.47%
Theoretical Best
Office A
$252.0K
$220.5K – $294.0K
NOI $17,639 @ 7.0% cap · market cap 25.23%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Location Intelligence
Trade Area within ½ mile
194
Businesses Nearby
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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
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Market
Properties on Market for Self storage facilities in Dickinson County
Vacancy Rate% for Industrial in Midwest region
Frequently Asked Questions
What type of property is this?
Self storage facility - Spacious storage units (1,152 sq. ft.) nearing completion.
Where is this self storage facility located?
The property is located at 1804 P Avenue 85 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: Spacious 1,152 sq. ft. storage unit (24' x 48').; Brand new construction for 2025.; 16'4" side walls and 14' x 14' overhead door.
