Insulated Storage
For Sale
$120,000
2049 Hwy 86 #5-6, Milford, IA 51351
The insulated unit has natural gas service, a 100-amp electrical panel, and a stub for a half bathroom.
Property Size1,152 SF
Price / SF$104.17
Days on Market90
Property Features for 2049 Hwy 86 #5-6
General Information
Standard status
Active
Size
1,152 SF
Property subtype
Commercial
Warehouse & Industrial
Clear Height
16 ft
Power
100 amps
Additional Details
Property Use
Self Storage
Building Details
Building Size
1,152 SF
Year Built
2024
Listing Agency:
Jensen Real Estate
(712) 332-8081
Listed By:
Michael Jensen · License #7586
(712) 320-7245
Source:
Lakelandrealtyofiowa
Added: Aug 2
Changed: Oct 29
Last Checked: Oct 29 at 10:49PM
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 Jensen Real Estate
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Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
At 2049 Hwy 86 #5-6 in Milford, this 2024 self-storage condo measures 24' x 48' and contains 1,152 square feet. EPS engineered ladder-frame construction, 16-foot sidewalls, and a 14' x 14' Midland overhead door define the space. Exterior 2x8 walls have R-27 insulation; interior 2x6 dividing walls have R-19 insulation, and the ceiling has R-44 blow-in insulation. Metal panels finish the interior walls.
The unit also has a LiftMaster door opener with wall-mounted and wireless remotes, natural gas service, and a 100-amp electrical panel fitted with four lights and two outlets. A floor drain and curb stop are installed, and plumbing is stubbed in for a half bathroom. The property is on the west side of West Lake Okoboji.
The unit also has a LiftMaster door opener with wall-mounted and wireless remotes, natural gas service, and a 100-amp electrical panel fitted with four lights and two outlets. A floor drain and curb stop are installed, and plumbing is stubbed in for a half bathroom. The property is on the west side of West Lake Okoboji.
Key Highlights
- 2024 self‑storage condo with 1,152 square feet
- 24' x 48' unit with 16‑foot sidewalls
- 14' x 14' Midland overhead door and LiftMaster opener with wall and wireless remotes
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$9,740
Cap Rate
8.12%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$194,800
$194.8K
Cap Rate 7%
$139,143
$139.1K
Cap Rate 9%
$108,222
$108.2K
Market Conditions
NOI Build-Up for 1,152 SF
Gross rent
$15.2K $13.20/SF
− Vacancy
−$1.3K −$1.12/SF
EGI
$13.9K $12.08/SF
− OpEx
−$4.2K −$3.62/SF
NOI
$9.7K $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%
$194,800
Cap Rate 7%
$139,143
Cap Rate 9%
$108,222
Alternative Uses
Best Use
Self Storage
$139.1K
$121.8K – $162.3K
NOI $9,740 @ 7.0% cap · market cap 8.12%
Second Best
Warehouse
$90.5K
$79.2K – $105.6K
NOI $6,338 @ 7.0% cap · market cap 5.28%
Theoretical Best
Office A
$252.0K
$220.5K – $294.0K
NOI $17,639 @ 7.0% cap · market cap 14.70%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Current Use
Lease Details
16 ft
Clear height
Location Intelligence
Trade Area within ½ mile
12
Businesses Nearby
Explore this area
Business Placement
Demographics for 51351, IA
4,844
Population
3,104
Households
1.6
Avg Household Size
45
Median Age
31%
College-Educated
97%
High-School Grad
108.0 sq mi
ZIP Area
45
Density / Sq Mi
$67,628
Median Household Income
$39,913
Median Earnings
$904
Median Rent
$256,100
Median Home Value
Market
Vacancy Rate% for Industrial in Midwest region
Frequently Asked Questions
What type of property is this?
Self storage facility - The insulated unit has natural gas service, a 100-amp electrical panel, and a stub for a half bathroom.
Where is this self storage facility located?
The property is located at 2049 Hwy 86 #5-6 Milford, IA.
What is the asking price?
The asking price for this property is $120,000.
What are key features of this property?
This property features: 2024 self‑storage condo with 1,152 square feet; 24' x 48' unit with 16‑foot sidewalls; 14' x 14' Midland overhead door and LiftMaster opener with wall and wireless remotes
