Insulated Warehouse
New
For Sale
$120,000
2049 HWY 86, Milford, IA 51351
COMMERCIAL - Milford, IA
Property Size1,152 SF
Price / SF$104.17
Days on Market3
Property Features for 2049 HWY 86
General Information
Property type
Commercial Sale
Property subtype
Other
Subdivision
Dickinson
Standard status
Active
APN
06-35-177-05
Taxes and HOA fees
Tax Year
2024
Tax Description
UNIT 5-5 STONES THROW STORAGE CONDOMINIUM
Legal Description
UNIT 5-5 STONES THROW STORAGE CONDOMINIUM
Utilities
Sewer type
Public Sewer
Water source
Public
Building Details
Year built
2024
Building materials
Metal Siding
Roof type
Metal
Listing Agency:
Jensen Real Estate
(712) 332-8081
Listed By:
Michael Jensen · License #B58673000
(712) 320-7245
Added: Aug 2
Changed: Aug 3
Last Checked: Aug 4 at 1:06PM
MLS# 260931
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.
Investment Insights
Based on property information with market context.
Built in 2024, this warehouse condo uses EPS engineered ladder-frame construction with metal siding and roofing. The 24' x 48' unit is fully insulated, with 16-foot sidewalls, metal-finished interior walls, and a stubbed connection for a half bathroom. A 14' x 14' Midland overhead door is operated by a LiftMaster opener with wall-mounted and wireless remotes.
The unit is located at 2049 Hwy 86 in Milford, on the west side of West Lake Okoboji. Natural gas service reaches the space, while public water and public sewer are available. Additional utility features include a 100-amp electrical panel with four lights and two outlets, a floor drain, and a curb stop for water shutoff.
The unit is located at 2049 Hwy 86 in Milford, on the west side of West Lake Okoboji. Natural gas service reaches the space, while public water and public sewer are available. Additional utility features include a 100-amp electrical panel with four lights and two outlets, a floor drain, and a curb stop for water shutoff.
Key Highlights
- 24' x 48' warehouse condo
- 14' x 14' Midland overhead door with LiftMaster opener
- 16‑foot sidewalls with R‑44 ceiling insulation
Financial Insights For Warehouse
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $8.0k | $6.96 |
| − Vacancy | −$561 | −$0.49 |
| EGI | $7.5k | $6.47 |
| − OpEx | −$1.1k | −$0.97 |
| NOI | $6.3k | $5.50 |
1,152 SF · lease $6.96/SF/yr · vacancy 7.00% · expense 15.00%
Alternative Uses
Best Use
Warehouse
$90.5K
$79.2K – $105.6K
NOI $6,338 @ 7.0% cap · market cap 5.28%
Second Best
—
—
no second resolved use
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.
Property Analytics
Property Profile
Current Use
Lease Details
16 ft
Clear height
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
12
Businesses Nearby
Well-served
Demand for This Use
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
Properties on Market for Warehouses in Dickinson County
Vacancy Rate% for Industrial in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Warehouse - Metal warehouse unit with natural gas, public utilities, and a stubbed half-bathroom connection.
Where is this warehouse located?
The property is located at 2049 HWY 86 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: 24' x 48' warehouse condo; 14' x 14' Midland overhead door with LiftMaster opener; 16‑foot sidewalls with R‑44 ceiling insulation
