Flex Space with Overhead
For Sale
$185,000
701 240th Avenue, Arnolds Park, IA 51331
Commercial, Arnolds Park, IA
Property Size1,750 SF
Price / SF$105.71
Days on Market527
Property Features for 701 240th Avenue
General Information
Property type
Commercial Sale
Property subtype
Other
Subdivision
Surrounding Areas/Other Areas
Standard status
Active
APN
0729478012
Additional Details
Property Use
Storage
Taxes and HOA fees
Tax Year
2023
Tax Description
Contact agent
Legal Description
Contact agent
Building Details
Year built
1994
Listing Agency:
Keller Williams Okoboji · Keller Williams Realty
(712) 336-1240
Listed By:
Brandon Visser
(712) 578-9264
Added: May 22, 2025
Changed: Oct 28
Last Checked: Oct 30 at 7:06PM
MLS# 828797
Copyright © 2026 Northwest Iowa Regional 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.
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Investment Insights
Based on property information with market context.
This flex space at 701 240th Avenue contains 1,750 square feet and was built in 1994. The unit has heat and electricity, with water and plumbing connections stubbed in. Two overhead doors reach 14 feet in height, providing access for larger vehicles and equipment.
The property is in Arnolds Park, Iowa, and is located close to the water.
The property is in Arnolds Park, Iowa, and is located close to the water.
Key Highlights
- 1,750‑square‑foot flex space built in 1994
- Two overhead doors with 14‑foot clearance
- Heat and electricity in place
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$14,853
Cap Rate
8.03%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$297,060
$297.1K
Cap Rate 7%
$212,186
$212.2K
Cap Rate 9%
$165,033
$165.0K
Market Conditions
NOI Build-Up for 1,750 SF
Gross rent
$24.6K $14.04/SF
− Vacancy
−$1.7K −$0.98/SF
EGI
$22.9K $13.06/SF
− OpEx
−$8.0K −$4.57/SF
NOI
$14.9K $8.49/SF
Area
Dickinson County, IA
Vacancy
7.00%
Lease Rate
$14.04 /SF/Yr
Expense Ratio
35.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$297,060
Cap Rate 7%
$212,186
Cap Rate 9%
$165,033
Alternative Uses
Best Use
Flex RnD
$212.2K
$185.7K – $247.6K
NOI $14,853 @ 7.0% cap · market cap 8.03%
Second Best
Warehouse
$137.5K
$120.4K – $160.5K
NOI $9,628 @ 7.0% cap · market cap 5.20%
Theoretical Best
Office A
$382.8K
$335.0K – $446.6K
NOI $26,796 @ 7.0% cap · market cap 14.48%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Current Use
Lease Details
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
89
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 51331, IA
1,102
Population
1,622
Households
0.7
Avg Household Size
61
Median Age
42%
College-Educated
98%
High-School Grad
1.6 sq mi
ZIP Area
689
Density / Sq Mi
$84,615
Median Household Income
$41,765
Median Earnings
$718
Median Rent
$415,800
Median Home Value
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Market
Vacancy Rate% for Industrial in Midwest region
Frequently Asked Questions
What type of property is this?
Flex space - Heated and powered interior space includes stubbed-in water and plumbing for adaptable workspace or storage.
Where is this flex space located?
The property is located at 701 240th Avenue Arnolds Park, IA.
What is the asking price?
The asking price for this property is $185,000.
What are key features of this property?
This property features: 1,750‑square‑foot flex space built in 1994; Two overhead doors with 14‑foot clearance; Heat and electricity in place
