Warehouse Unit 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 Market506
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
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: Sep 30
Last Checked: Oct 9 at 2:06PM
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.
Investment Insights
Based on property information with market context.
This 1,750-square-foot warehouse unit was built in 1994 and has heat, electricity, and stubbed-in water and plumbing. The 14-foot overhead doors provide access for larger vehicles and recreational equipment. Located near the water in Arnolds Park, the space can serve storage or workshop needs.
Key Highlights
- 1,750‑square‑foot warehouse unit
- 14‑foot overhead doors
- Heat and electricity in place
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$9,628
Cap Rate
5.20%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$192,560
$192.6K
Cap Rate 7%
$137,543
$137.5K
Cap Rate 9%
$106,978
$107.0K
Market Conditions
NOI Build-Up for 1,750 SF
Gross rent
$12.2K $6.96/SF
− Vacancy
−$853 −$0.49/SF
EGI
$11.3K $6.47/SF
− OpEx
−$1.7K −$0.97/SF
NOI
$9.6K $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%
$192,560
Cap Rate 7%
$137,543
Cap Rate 9%
$106,978
Alternative Uses
Best Use
Warehouse
$137.5K
$120.4K – $160.5K
NOI $9,628 @ 7.0% cap · market cap 5.20%
Second Best
—
—
no second resolved use
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.
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Industrial in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Warehouse - Heated and powered space includes plumbing rough-ins for storage or workshop use.
Where is this warehouse 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 warehouse unit; 14‑foot overhead doors; Heat and electricity in place
