Building Details

Year built 2007

Building materials Metal Siding

Roof type Metal

Listing Agency: RE/MAX Lakes Realty · RE/MAX International b***@gmail.com Show Phone

Listed By: Aaron Jones · License #B61252 Show Phone

Added: Oct 1 Changed: Oct 2 Last Checked: Oct 7 at 12:06PM

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MLS# 261286

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.

This 2007 flex space measures 28 by 60 feet and has an open layout with concrete flooring throughout. Metal siding and a metal roof define the exterior, while 16-foot sidewalls and a 14-foot overhead door with an electric opener support access to the interior.

The property is located in Orleans, near East Lake and Big Spirit.

Key Highlights

• 28 × 60‑foot building constructed in 2007
• Open interior with concrete flooring throughout
• 16‑foot sidewalls and 14‑foot overhead door with electric opener

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$9,243

Cap Rate

7.17%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$184,860 $184.9K

Cap Rate 7%

$132,043 $132.0K

Cap Rate 9%

$102,700 $102.7K

Market Conditions

NOI Build-Up for 1,680 SF

Gross rent

$11.7K $6.96/SF

− Vacancy

−$818 −$0.49/SF

EGI

$10.9K $6.47/SF

− OpEx

−$1.6K −$0.97/SF

NOI

$9.2K $5.50/SF

Area

Dickinson County, IA

Vacancy

7.00%

Lease Rate

$6.96 /SF/Yr

Expense Ratio

15.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$184,860

Cap Rate 7%

$132,043

Cap Rate 9%

$102,700

Alternative Uses

Best Use

Flex RnD

$203.7K

$178.2K – $237.6K (±1% cap)

NOI $14,258 @ 7.0% cap · market cap 11.05%

Second Best

Warehouse

$132.0K

$115.5K – $154.1K (±1% cap)

NOI $9,243 @ 7.0% cap · market cap 7.17%

Theoretical Best

Office A

$367.5K

$321.6K – $428.7K (±1% cap)

NOI $25,724 @ 7.0% cap · market cap 19.94%

Zoning and permitted uses should be independently verified with authorities.

Property Analytics

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Open Analytics

Current Use

Flex space

Suggested Use

Top Pick Storage Facility Real Estate Agency Restaurant Hotel & Motel

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

1

Drive-in doors

Location Intelligence

Trade Area within ½ mile

19

Businesses Nearby

Well-served

Demand for This Use

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

4.4% 2019

4.9% 2020

3.6% 2021

3.1% 2022

4.6% 2023

5% 2024

4.9% 2025

Questions? Ask Rey

Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.

What type of property is this? Where is this flex space located? What is the asking price? Find similar properties What are key features of this property?

Frequently Asked Questions

What type of property is this?

Flex space - Open interior with concrete flooring supports storage, workshop, or business use.

Where is this flex space located?

The property is located at 25632 1st Street Orleans, IA.

What is the asking price?

The asking price for this property is $129,000.

What are key features of this property?

This property features: 28 × 60‑foot building constructed in 2007; Open interior with concrete flooring throughout; 16‑foot sidewalls and 14‑foot overhead door with electric opener