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    Drive-Up Heated Storage Units Title is generated by Realmo AI

    2045 HWY 9, Spirit Lake, IA 51360

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    For Lease
    $475/Mo $8 SF/Yr (calc)

    COMMERCIAL - Spirit Lake, IA

    Property size:
    650 SF
    Added:
    Jun 2, 2026
    Days on Market:
    3
    Last Refresh:
    Jun 4 at 3:06 am

    Property Features for 2045 HWY 9

    General Information

    Property type
    Commercial Lease
    Property subtype
    Other
    Property condition
    Under Construction
    Parking features
    Driveway
    Security features
    Security Lighting
    Exterior features
    Highway Access, Security Lighting
    Standard status
    Active
    APN
    06-02-126-014

    Taxes and HOA fees

    Tax Year
    2024
    Tax Description
    IRREG TRT AKA PAR "C" IN E 1/2 OF NW W OF RD 2-99-37

    Utilities

    Heating system
    Forced Air
    Cooling system
    Central Air

    Building Details

    Year built
    2025
    Building materials
    Steel Siding
    Roof type
    Metal

    We can help!

    Listing Contact
    Aaron Jones
    Aaron Jones

    Listing agent Aaron Jones License #B61252

    Listing office RE/MAX Lakes Realty 272 Hwy 71 PO Box 427, Spirit Lake, IA

    Listing date Jun 2, 2026

    MLS# 260547

    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.

    HighLights

    • Under construction 2025 steel‑sided storage units with metal roof
    • 40' x 18' units with 12' x 14' overhead doors and walk‑in doors
    • Each unit includes automatic high‑bay LED lighting and an electrical outlet
    • Heated and climate‑controlled for protection through midwestern winters
    • Fully paved lot with wide drive lanes and drive‑up access for easy backing in
    • Security lighting and driveway parking plus outdoor vehicle storage/access

    Overview

    This facility offers a set of storage units configured with 12 x 14 overhead doors, walk-in doors, and automatic high-bay LED lighting. Each unit includes an electrical outlet and approximately 650 square feet of space, with heated, climate-controlled interiors intended to help protect boats, engines, and equipment through midwestern winters. The property also provides drive-up access for easier loading and unloading, along with outdoor access and vehicle storage options.

    Located at 2045 HWY 9 in Spirit Lake, IA (Dickinson County), the site sits on a fully paved lot with wide drive lanes. The layout is designed to make backing in straightforward for a boat, pontoon, or camper, supporting practical, day-to-day storage use. Units are available for rent, with 16 units currently available out of 40 x 18 units.

    This setup can work well for tenants who need weather-protected storage for larger recreational vehicles or equipment, while still valuing convenient drive-up access. The combination of heated climate control, roll-up door access, and paved wide lanes makes the space especially suitable for seasonal storage needs and ongoing equipment protection.
    Property Profile Location Intelligence

    Current Use by Public Records

    Self storage facilities

    Suggested Use

    Restaurant Real Estate Agency Law Firm Building Supply Spa & Massage Center Dental Office Big Box & Wholesale Store Hair Salon Auto Repair Shop Nail Salon

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Spirit Lake
    County
    Dickinson
    State
    Iowa
    Longitude
    -95.182029
    Latitude
    43.4299443

    Nearby Similar for Lease

    • $550/Mo

      Heated Storage Facility with Drive-Up Access

      Climate-controlled units with large overhead doors and wide drive lanes make it easy to store and access boats, engines, and equipment.
      2045 HWY 9, Spirit Lake, IA 51360
      View Details
    • $5,500/Mo

      Restaurant with Drive-Thru For Lease

      Move-in ready restaurant with drive-thru in high-traffic location.
      2209 Circle Drive, Spirit Lake, IA 51360
      View Details
    • $400/Mo
      140 SF

      Office Space in Spirit Lake

      Office spaces for lease in Spirit Lake, Iowa.
      1390 Lake St, Spirit Lake, IA 51360
      View Details

    FAQs

    What type of property is this?
    Self storage facility - Heated, climate-controlled units with drive-up access are designed for equipment and boat storage in winter conditions.
    Where is this self storage facility located?
    The property is located at 2045 HWY 9 Spirit Lake, IA.
    What is the lease rate?
    The lease rate is $475 /Mo.
    What are key features of this property?
    This property features: Under construction 2025 steel‑sided storage units with metal roof; 40' x 18' units with 12' x 14' overhead doors and walk‑in doors; Each unit includes automatic high‑bay LED lighting and an electrical outlet
    (712) 320-9442
    We can help!
    Listing Contact
    Aaron Jones
    Aaron Jones
    Real Estate License ID: B61252
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

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