Flex Space with Living
For Sale
$379,000
1901 32nd Street #59, Spirit Lake, IA 51331
Newer construction combines business, storage, and residential functions under one roof.
Property Size2,400 SF
Price / SF$157.92
Days on Market72
Property Features for 1901 32nd Street #59
General Information
Standard status
Active
Size
2,400 SF
Property subtype
Commercial
Building Details
Year Built
2022
Listing Agency:
Stauss Realty
Listed By:
Jj Newman · License #8330
(320) 733-2399
Source:
Integrityiowa
Added: Aug 3
Changed: Oct 13
Last Checked: Oct 12 at 5:21PM
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 Stauss Realty
Investment Insights
Based on property information with market context.
This flex property in Spirit Lake brings together a stage and storage component with renovated living quarters on the same site. Built in 2022, the building supports a combination of workspace, storage, and residential use within one integrated setting.
The property is located at 1901 32nd Street #59, near Spirit Lake shopping, dining, entertainment, and everyday amenities. Its configuration may accommodate business operations, personal projects, recreational equipment, and on-site living without separating those functions across multiple locations.
The property is located at 1901 32nd Street #59, near Spirit Lake shopping, dining, entertainment, and everyday amenities. Its configuration may accommodate business operations, personal projects, recreational equipment, and on-site living without separating those functions across multiple locations.
Key Highlights
- Flex property with stage and storage space
- Renovated living quarters located on site
- Built in 2022
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$20,369
Cap Rate
5.37%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$407,380
$407.4K
Cap Rate 7%
$290,986
$291.0K
Cap Rate 9%
$226,322
$226.3K
Market Conditions
NOI Build-Up for 2,400 SF
Gross rent
$33.7K $14.04/SF
− Vacancy
−$2.4K −$0.98/SF
EGI
$31.3K $13.06/SF
− OpEx
−$11.0K −$4.57/SF
NOI
$20.4K $8.49/SF
Area
Dickinson County, IA
Vacancy
7.00%
Lease Rate
$14.04 /SF/Yr
Expense Ratio
35.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$407,380
Cap Rate 7%
$290,986
Cap Rate 9%
$226,322
Alternative Uses
Best Use
Flex RnD
$291.0K
$254.6K – $339.5K
NOI $20,369 @ 7.0% cap · market cap 5.37%
Second Best
Mixed Use
$271.5K
$237.6K – $316.8K
NOI $19,008 @ 7.0% cap · market cap 5.02%
Theoretical Best
Office A
$525.0K
$459.4K – $612.5K
NOI $36,749 @ 7.0% cap · market cap 9.70%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
299
Businesses Nearby
Balanced
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in Midwest region
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Frequently Asked Questions
What type of property is this?
Flex space - Newer construction combines business, storage, and residential functions under one roof.
Where is this flex space located?
The property is located at 1901 32nd Street #59 Spirit Lake, IA.
What is the asking price?
The asking price for this property is $379,000.
What are key features of this property?
This property features: Flex property with stage and storage space; Renovated living quarters located on site; Built in 2022
