Refrigerated Cold Storage
For Sale
Contact for pricing
764 Linden Drive, Arnolds Park, IA 51331
COMMERCIAL, Arnolds Park, IA
Property Size288 SF
Price / SF$76.22
Days on Market209
Property Features for 764 Linden Drive
General Information
Property type
Commercial Sale
Property subtype
Other
Parking features
Driveway
Exterior features
Highway Access
Directions
Off County Road out on South side of Bridges Bay Cabins
Subdivision
Dickinson
Standard status
Active
APN
0721354016
Taxes and HOA fees
Tax Year
2024
Tax Description
GARAGE 16 190TH STREET GARAGES
Tax Annual Amount
250
Legal Description
GARAGE 16 190TH STREET GARAGES
Building Details
Year built
2017
Building materials
Smart Board
Roof type
Asphalt
Listing Agency:
RE/MAX Lakes Realty · RE/MAX International
(712) 336-4967
Listed By:
Aaron Jones · License #B61252
(712) 320-9442
Added: Feb 5
Changed: Aug 19
Last Checked: Sep 2 at 7:06AM
MLS# 251686
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 refrigerated cold storage unit measures 12x24 and includes a 9x8 overhead door for loading and access. The structure was built in 2017 with Smart Board construction materials and an asphalt roof.
The property is located at 764 Linden Drive in Arnolds Park, Iowa, within Bridges Bay Resort and along the county road. Highway access and driveway parking are provided. Multiple units may be combined, supporting expansion beyond a single storage unit.
The property is located at 764 Linden Drive in Arnolds Park, Iowa, within Bridges Bay Resort and along the county road. Highway access and driveway parking are provided. Multiple units may be combined, supporting expansion beyond a single storage unit.
Key Highlights
- 12x24 refrigerated cold storage unit
- 9x8 overhead door
- Built in 2017
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$1,585
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
7.22%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$31,700
$31.7K
Cap Rate 7%
$22,643
$22.6K
Cap Rate 9%
$17,611
$17.6K
Market Conditions
NOI Build-Up for 288 SF
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.
Gross rent
$2.0K $6.96/SF
− Vacancy
−$140 −$0.49/SF
EGI
$1.9K $6.47/SF
− OpEx
−$280 −$0.97/SF
NOI
$1.6K $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 rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$31,700
Cap Rate 7%
$22,643
Cap Rate 9%
$17,611
Alternative Uses
Best Use
Warehouse
$22.6K
$19.8K – $26.4K
NOI $1,585 @ 7.0% cap · market cap 7.22%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$63.0K
$55.1K – $73.5K
NOI $4,410 @ 7.0% cap · market cap 20.09%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
31
Businesses Nearby
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
Market
Vacancy Rate% for Industrial in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Refrigerated & cold storage - Refrigerated storage at Bridges Bay Resort offers direct overhead-door access and driveway parking.
Where is this refrigerated & cold storage located?
The property is located at 764 Linden Drive Arnolds Park, IA.
What are key features of this property?
This property features: 12x24 refrigerated cold storage unit; 9x8 overhead door; Built in 2017
