Heated Self-Storage
For Sale
$105,000
2045 Hwy 9 #3, Spirit Lake, IA 51360
Centrally managed heated units and a secured gate provide controlled access for stored belongings and vehicles.
Property Size900 SF
Price / SF$116.67
Days on Market47
Property Features for 2045 Hwy 9 #3
General Information
Standard status
Active
Size
900 SF
Total Parking Spaces
1
Property subtype
Commercial
Amenities
High Traffic Location
Highway Access
Security Lighting
Building Details
Building Size
900 SF
Year Built
2025
Units
1
Listing Agency:
RE/MAX Lakes Realty
(712) 336-4967
Listed By:
Aaron Jones · License #B61252
(712) 320-9442
Source:
Lakelandrealtyofiowa
Added: Sep 14
Changed: Oct 29
Last Checked: Oct 29 at 10:47PM
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 RE/MAX Lakes Realty
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
Built in 2025, this self-storage property offers approximately 900 square feet of space. The unit includes 12' × 14' automatic overhead doors, 16' side walls, a walk-in door, and a tin interior. Automatic high-bay LED lighting and an electrical outlet are also provided, with centrally controlled heat and a secured gate offering access 24/7.
The fully paved lot has wide drive lanes for maneuvering vehicles and trailers, including boats, pontoons, and campers.
The fully paved lot has wide drive lanes for maneuvering vehicles and trailers, including boats, pontoons, and campers.
Key Highlights
- Approximately 900 square feet of storage space
- 12' × 14' automatic overhead doors and 16' side walls
- Centrally controlled heated units with a secured gate and 24/7 access
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$7,609
Cap Rate
7.25%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$152,180
$152.2K
Cap Rate 7%
$108,700
$108.7K
Cap Rate 9%
$84,544
$84.5K
Market Conditions
NOI Build-Up for 900 SF
Gross rent
$11.9K $13.20/SF
− Vacancy
−$1.0K −$1.12/SF
EGI
$10.9K $12.08/SF
− OpEx
−$3.3K −$3.62/SF
NOI
$7.6K $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%
$152,180
Cap Rate 7%
$108,700
Cap Rate 9%
$84,544
Alternative Uses
Best Use
Self Storage
$108.7K
$95.1K – $126.8K
NOI $7,609 @ 7.0% cap · market cap 7.25%
Second Best
Warehouse
$70.7K
$61.9K – $82.5K
NOI $4,952 @ 7.0% cap · market cap 4.72%
Theoretical Best
Office A
$196.9K
$172.3K – $229.7K
NOI $13,781 @ 7.0% cap · market cap 13.12%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
435
Businesses Nearby
Explore this area
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
Market
Vacancy Rate% for Industrial in Midwest region
Frequently Asked Questions
What type of property is this?
Self storage facility - Centrally managed heated units and a secured gate provide controlled access for stored belongings and vehicles.
Where is this self storage facility located?
The property is located at 2045 Hwy 9 #3 Spirit Lake, IA.
What is the asking price?
The asking price for this property is $105,000.
What are key features of this property?
This property features: Approximately 900 square feet of storage space; 12' × 14' automatic overhead doors and 16' side walls; Centrally controlled heated units with a secured gate and 24/7 access
