Self-Storage Facility with Overhead
New
For Sale
$69,900
1804 P Avenue, Milford, IA 51351
COMMERCIAL - Milford, IA
Property Size1,152 SF
Price / SF$60.68
Days on Market7
Property Features for 1804 P Avenue
General Information
Property type
Commercial Sale
Property subtype
Other
Property condition
Under Construction
Parking features
Driveway
Security features
Security Lighting
Exterior features
Security Lighting
Directions
Located on P Ave. in north Milford. Just one block east of HWY 71. Located behind Sunshine Foods
Subdivision
Dickinson
Standard status
Active
APN
11-06-304-020
Taxes and HOA fees
Tax Year
2023
Tax Description
UNIT 88 PELICAN BAY STORAGE CONDOMINIUMS
Legal Description
UNIT 88 PELICAN BAY STORAGE CONDOMINIUMS
Building Details
Year built
2025
Building materials
Steel Siding
Roof type
Metal
Listing Agency:
Jensen Real Estate
(712) 332-8081
Listed By:
Michael Jensen · License #B58673000
(712) 320-7245
Added: Jul 28
Changed: Jul 30
Last Checked: Aug 3 at 12:06AM
MLS# 260889
Copyright © 2026 Iowa Great Lakes Board of Realtors. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
Brand-new self-storage facility with construction nearing completion (Year built: 2025). Each unit is described as 24' x 48' (1,152 sq. ft.) and features 16'4" side walls. Units are equipped with a 14' x 14' overhead door plus a 3' x 6'8" walk-in door for convenient access.
Each unit includes a 20-amp electrical service, and electricity costs are covered by the HOA. The property includes security lighting, with steel siding and a metal roof. Parking is provided via a driveway, and the property condition is currently under construction.
Designed for personal storage use, the HOA also covers building insurance, lawn care, and snow removal.
Each unit includes a 20-amp electrical service, and electricity costs are covered by the HOA. The property includes security lighting, with steel siding and a metal roof. Parking is provided via a driveway, and the property condition is currently under construction.
Designed for personal storage use, the HOA also covers building insurance, lawn care, and snow removal.
Key Highlights
- Units measure 24' x 48' (1,152 sq. ft.) with 16'4" side walls
- 14' x 14' overhead doors plus 3' x 6'8" walk‑in doors per unit
- 20‑amp electrical service included in every unit
Financial Insights For Warehouse
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $8.0k | $6.96 |
| − Vacancy | −$561 | −$0.49 |
| EGI | $7.5k | $6.47 |
| − OpEx | −$1.1k | −$0.97 |
| NOI | $6.3k | $5.50 |
1,152 SF · lease $6.96/SF/yr · vacancy 7.00% · expense 15.00%
Alternative Uses
Best Use
Self Storage
$139.1K
$121.8K – $162.3K
NOI $9,740 @ 7.0% cap · market cap 13.93%
Second Best
Warehouse
$90.5K
$79.2K – $105.6K
NOI $6,338 @ 7.0% cap · market cap 9.07%
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.
Property Analytics
Property Profile
Current Use
Lease Details
16 ft
Clear height
Location Intelligence
Trade Area within ½ mile
162
Businesses Nearby
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
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Self storage facility - Brand-new self-storage facility nearing completion with overhead and walk-in access doors for convenient unit entry.
Where is this self storage facility located?
The property is located at 1804 P Avenue 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: Units measure 24' x 48' (1,152 sq. ft.) with 16'4" side walls; 14' x 14' overhead doors plus 3' x 6'8" walk‑in doors per unit; 20‑amp electrical service included in every unit
