Heated Self-Storage
For Sale
$84,000
2045 Hwy 9 #88, Spirit Lake, IA 51360
A secured gate, controlled heating, and broad paved drive lanes support convenient access to this individual storage space.
Property Size720 SF
Price / SF$116.67
Days on Market47
Property Features for 2045 Hwy 9 #88
General Information
Standard status
Active
Size
720 SF
Total Parking Spaces
1
Property subtype
Commercial
Additional Details
Drive-In Doors
1
Property Use
Self Storage
Amenities
24/7 Secured Gate
Centrally controlled heated units
Automatic high-bay LED lighting
Electrical outlet
High Traffic Location
Highway Access
Security Lighting
Building Details
Building Size
720 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 10:53PM
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
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Investment Insights
Based on property information with market context.
Built in 2025, this self-storage unit measures 18 by 40 feet and offers approximately 720 square feet. Features include 16-foot side walls, a 12'×14' automatic overhead door, and a separate walk-in entrance. The interior has tin walls, automatic high-bay LED lighting, and an electrical outlet. Heating is centrally controlled.
The property has a secured gate with 24/7 access. A fully paved lot and wide drive lanes provide room to maneuver vehicles and back in a boat, pontoon, or camper.
The property has a secured gate with 24/7 access. A fully paved lot and wide drive lanes provide room to maneuver vehicles and back in a boat, pontoon, or camper.
Key Highlights
- Approximately 720 square feet; unit dimensions are 18x40
- 12'×14' automatic overhead door
- 16' side walls, tin interior, and a separate walk‑in door
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.
How Realmo checks its estimates
Property Analytics
Current Use
Lease Details
1
Drive-in doors
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 - A secured gate, controlled heating, and broad paved drive lanes support convenient access to this individual storage space.
Where is this self storage facility located?
The property is located at 2045 Hwy 9 #88 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; unit dimensions are 18x40; 12'×14' automatic overhead door; 16' side walls, tin interior, and a separate walk‑in door
