New Self-Storage
For Sale
$84,000
2045 HWY 9, Spirit Lake, IA 51360
COMMERCIAL, Spirit Lake, IA
Property Size720 SF
Price / SF$116.67
Days on Market50
Property Features for 2045 HWY 9
General Information
Property type
Commercial Sale
Property subtype
Other
Property condition
Under Construction
Parking features
Driveway, Open, Secured, Garage
Security features
Security Lighting
Exterior features
High Traffic Location, Highway Access, Security Lighting
Directions
Across from Vic's Corner
Subdivision
Dickinson
Standard status
Active
APN
06-02-126-014-93
Additional Details
Property Use
Self Storage
Taxes and HOA fees
Tax Year
2025
Tax Description
IRREG TRT AKA PAR "C" IN E 1/2 OF NW W OF RD 2-99-37---Unit 93
Tax Annual Amount
250
Legal Description
IRREG TRT AKA PAR "C" IN E 1/2 OF NW W OF RD 2-99-37---Unit 93
Utilities
Heating system
Space Heater, Wall Furnace
Amenities
24/7 Secured Gate
Building Details
Year built
2025
Building materials
Metal Siding
Roof type
Metal
Listing Agency:
RE/MAX Lakes Realty · RE/MAX International
(712) 336-4967
Listed By:
Aaron Jones · License #B61252
(712) 320-9442
Added: Sep 14
Changed: Oct 26
Last Checked: Nov 2 at 11:06PM
MLS# 261197
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.
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Investment Insights
Based on property information with market context.
This 2025 self-storage facility is under construction and includes approximately 720 square feet of storage space. The unit features centrally controlled heating, a 12'*14' automatic overhead door, 16' side walls, tin interior finishes, a walk-in door, automatic high-bay LED lighting, and an electrical outlet. Metal siding and a metal roof complete the building improvements.
Access is supported by a 24/7 secured gate, security lighting, and a fully paved lot with wide drive lanes. The configuration accommodates backing in boats, pontoons, and campers, while highway access and a high-traffic location add practical convenience.
Access is supported by a 24/7 secured gate, security lighting, and a fully paved lot with wide drive lanes. The configuration accommodates backing in boats, pontoons, and campers, while highway access and a high-traffic location add practical convenience.
Key Highlights
- Approximately 720 square feet of storage space
- 12'*14' automatic overhead door and 16' side walls
- Centrally controlled heated unit with wall furnace and space heater
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$6,087
Cap Rate
7.25%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$121,740
$121.7K
Cap Rate 7%
$86,957
$87.0K
Cap Rate 9%
$67,633
$67.6K
Market Conditions
NOI Build-Up for 720 SF
Gross rent
$9.5K $13.20/SF
− Vacancy
−$808 −$1.12/SF
EGI
$8.7K $12.08/SF
− OpEx
−$2.6K −$3.62/SF
NOI
$6.1K $8.45/SF
Area
Dickinson County, IA
Vacancy
8.50%
Lease Rate
$13.20 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$121,740
Cap Rate 7%
$86,957
Cap Rate 9%
$67,633
Alternative Uses
Best Use
Self Storage
$87.0K
$76.1K – $101.5K
NOI $6,087 @ 7.0% cap · market cap 7.25%
Second Best
Warehouse
$56.6K
$49.5K – $66.0K
NOI $3,961 @ 7.0% cap · market cap 4.72%
Theoretical Best
Office A
$157.5K
$137.8K – $183.8K
NOI $11,025 @ 7.0% cap · market cap 13.13%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Location Intelligence
Trade Area within ½ mile
21
Businesses Nearby
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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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Market
Vacancy Rate% for Industrial in Midwest region
Frequently Asked Questions
What type of property is this?
Self storage facility - Secured access, heated units, and paved drive lanes provide practical storage space for boats, campers, and similar equipment.
Where is this self storage facility located?
The property is located at 2045 HWY 9 Spirit Lake, IA.
What is the asking price?
The asking price for this property is $84,000.
What are key features of this property?
This property features: Approximately 720 square feet of storage space; 12'*14' automatic overhead door and 16' side walls; Centrally controlled heated unit with wall furnace and space heater
