Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Back to Search
    New Customizable Storage & Lifestyle Units Title is generated by Realmo AI

    3156 18th Street, Spirit Lake, IA 51360

    View on Map
    Claim this Listing
    For Sale
    $160,000

    COMMERCIAL - Spirit Lake, IA

    Added:
    Jul 22, 2025
    Days on Market:
    318
    Last Refresh:
    Jun 4 at 6:06 pm

    Property Features for 3156 18th Street

    General Information

    Property type
    Commercial Sale
    Property subtype
    Other
    Property condition
    Under Construction
    Parking features
    Secured, Open, Garage
    Standard status
    Active
    APN
    0706251004

    Taxes and HOA fees

    Tax Year
    2023
    Tax Description
    spirit lake Bridgewater park lot 3
    Tax Annual Amount
    642

    Utilities

    Sewer type
    Public Sewer
    Water source
    Public

    Building Details

    Year built
    2025
    Building materials
    Steel Siding
    Roof type
    Metal

    We can help!

    Listing Contact
    Jeff Ronsiek
    Jeff Ronsiek

    Listing agent Jeff Ronsiek License #B59884

    Listing office EXIT Realty Midwest 1306 18th St. Suite C, Spirit Lake, IA

    Listing date Jul 22, 2025

    MLS# 250943

    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.

    HighLights

    • New construction: Brand‑new, customizable 28' x 50' storage/lifestyle units.
    • Customizable interior: Design and finish the interior to your needs.
    • City utilities: Includes electrical, sewer, and water hookups.
    • Features a large 14' x 14' overhead door for easy access.
    • Fully insulated: Stay comfortable year‑round.
    • In‑floor heat rough‑in: Prepped for energy‑efficient in‑floor heating.

    Overview

    These new construction storage and lifestyle units are for sale, offering customizable spaces designed for functionality and flexibility. The 112' x 50' building contains four individual units, each measuring 28' x 50'. Currently under construction, these units present an opportunity for ownership. Each unit includes concrete floors, 16' side walls, and a 14' x 14' overhead door, along with a walk-through entry door. The units are fully insulated and feature steel-lined interiors and exteriors. City utilities are available, including electrical, sewer, and water, with plumbing rough-ins for a future bathroom and floor drain. In-floor heat rough-in is included for energy-efficient comfort. Interior customization is available. These units are suitable for various purposes, including storing lake toys, running a small business, or creating a recreational space. Located in Spirit Lake, Iowa, these units offer a valuable investment opportunity.
    Property Profile Location Intelligence

    Current Use by Public Records

    Flex space

    Suggested Use

    Restaurant Real Estate Agency Law Firm Dental Office Spa & Massage Center Building Supply Big Box & Wholesale Store Hair Salon Auto Repair Shop Nail Salon

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Spirit Lake
    County
    Dickinson
    State
    Iowa
    Longitude
    -95.1387128
    Latitude
    43.42239

    Nearby Similar for Sale

    • $895,000

      Drive-Thru Ready Restaurant Building

      Versatile former bank/restaurant building with drive-thru infrastructure and strong highway exposure for restaurants or retail.
      3307 Hwy 71, Spirit Lake, IA 51360
      View Details
    • $675,000

      Spirit Lake Commercial Opportunity

      High-visibility commercial property with drive-thru in Spirit Lake, Iowa.
      2209 Circle Dr, Spirit Lake, IA 51360
      View Details
    • $1,795,000

      36-Room Travelodge in Spirit Lake

      Spirit Lake Travelodge with income potential and expansion opportunity.
      1905 18th Street, Spirit Lake, IA 51360
      View Details
    • $1,990,000
      3,848 SF

      Contemporary Duplex on Spirit Lake

      New construction duplex designed for comfortable lake living.
      16822 255th Street, Spirit Lake, IA 51360
      View Details
    • $1,990,000
      3,834 SF

      Contemporary Duplex on Spirit Lake

      New construction duplex designed for comfortable lake living.
      16822 255th Street, Spirit Lake, IA 51360
      View Details
    • $349,000
      6,120 SF

      Massive Office Building with Storage

      6,120 sq ft office building with storage for sale.
      3524 Highway 71 S, Spirit Lake, IA 51360
      View Details
    • $1,500,000

      Spirit Lake Storage Facility Investment

      Large-scale storage space with immediate cash flow potential.
      18 Th Street, Spirit Lake, IA 51360
      View Details
    • Contact for pricing

      Drive-Thru Restaurant with Double Lane

      A highly visible quick-serve space with double drive-thru lanes, dual windows, and key kitchen systems already in place.
      604 18th St, Spirit Lake, IA 51360
      View Details
    • $425,000
      2,439 SF

      Spirit Lake Duplex with Pond

      Near-new duplex with pond view, close to amenities.
      1940 35th Street, Spirit Lake, IA 51360
      View Details
    • $900,000

      Spirit Lake Eight-Unit Apartment Building

      Eight-unit apartment building in downtown Spirit Lake, Iowa.
      1501 Hill Ave, Spirit Lake, IA 51360
      View Details
    • $419,900
      1,425 SF

      New Construction Duplex in Spirit Lake

      Contemporary 2-bedroom, 2-bathroom duplex with modern amenities and bike trail access.
      3102 Spruce Court, Spirit Lake, IA 51360
      View Details
    • $139,900

      New Storage Units in Spirit

      Newly constructed storage units in a desirable Spirit Lake location.
      2311 37th Street, Spirit Lake, IA 51360
      View Details

    FAQs

    What type of property is this?
    Flex space - New construction storage and lifestyle units for sale in Spirit Lake.
    Where is this flex space located?
    The property is located at 3156 18th Street Spirit Lake, IA.
    What is the asking price?
    The asking price for this property is $160,000.
    What are key features of this property?
    This property features: New construction: Brand‑new, customizable 28' x 50' storage/lifestyle units.; Customizable interior: Design and finish the interior to your needs.; City utilities: Includes electrical, sewer, and water hookups.
    (712) 331-4002
    We can help!
    Listing Contact
    Jeff Ronsiek
    Jeff Ronsiek
    Real Estate License ID: B59884
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry
    3156 18th Street, Spirit Lake, IA 51360
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!