Heated 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
Open, Garage, Secured, Driveway
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
06-02-126-014-67
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 67
Tax Annual Amount
250
Legal Description
IRREG TRT AKA PAR "C" IN E 1/2 OF NW W OF RD 2-99-37---Unit 67
Utilities
Heating system
Wall Furnace, Space Heater
Amenities
24/7 Secured Gate
Centrally Controlled Heated Units
Automatic Overhead Doors
Walk-in Doors
Automatic High-Bay LED Lighting
Electrical Outlet
Paved Lot with Wide Drive Lanes
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# 261187
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 self-storage unit is under construction with approximately 720 square feet of space in an 18x40 configuration. The unit includes a 12'*14' automatic overhead door, a separate walk-in door, 16' side walls, tin interior finishes, automatic high-bay LED lighting, and an electrical outlet. Centrally controlled heating is provided through a space heater and wall furnace, with metal siding and a metal roof.
The property includes a 24/7 secured gate, security lighting, open secured parking, and a fully paved lot with wide drive lanes. Highway access and a high-traffic location support convenient arrival and maneuvering, including backing in a boat, pontoon, or camper. The property is located at 2045 HWY 9 in Spirit Lake, Iowa, and was built in 2025.
The property includes a 24/7 secured gate, security lighting, open secured parking, and a fully paved lot with wide drive lanes. Highway access and a high-traffic location support convenient arrival and maneuvering, including backing in a boat, pontoon, or camper. The property is located at 2045 HWY 9 in Spirit Lake, Iowa, and was built in 2025.
Key Highlights
- Approximately 720 square feet in an 18x40 storage unit
- 12'*14' automatic overhead door with separate walk‑in door
- 16' side walls, tin interior, LED high‑bay lighting, and electrical outlet
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 - Secure access, automated doors, and paved drive lanes accommodate convenient storage for boats, campers, and other large items.
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 in an 18x40 storage unit; 12'*14' automatic overhead door with separate walk‑in door; 16' side walls, tin interior, LED high‑bay lighting, and electrical outlet
