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    700 Prospect St Le Mars, IA 51031

    For Lease
    $9 SF/Yr ($12,967 /Mo)

    17,290 SF, Single Tenant, Excellent Location

    Lot size:
    17,290 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    370
    This 17,290-square-foot refrigerated/cold storage facility in Le Mars, Iowa, presents a unique investment opportunity. Located at 700 Prospect St SW, this single-tenant property sits on a 165,963-square-foot lot and offers significant expansion potential with an additional 1.5 acres of land. Built in 1998, the facility features 3 loading docks, 16- to 20-foot ceilings, and a versatile layout including cooler and freezer space. The cooler/processing room encompasses 6,762 square feet with 16-foot ceilings and maintains a temperature of 35 degrees. Additional dry/cooler space boasts 20-foot ceilings, while a separate freezer area (-5 degrees) offers 2,083 square feet and 224 pallet spaces. The facility's capacity easily exceeds 500 pallet positions, and includes a processing room equipped with ample power and floor drains. An interstitial ceiling simplifies access to the fire sprinkler system and lighting. The ammonia refrigeration system ensures efficient temperature control. Currently leased, but early lease termination may be possible. The property's Commercial zoning in Plymouth County (APN 12-20-227-022) allows for diverse uses. This exceptional property is ideal for businesses seeking efficient cold storage solutions and future expansion capabilities in a thriving Northwest Iowa location. The property's single-story design and ample parking further enhance its appeal.

    Property Features for 700 Prospect St

    General Information

    Property type
    Refrigerated & Cold Storages
    Lease Type
    Gross Lease
    RSF (Rentable sq. ft)
    17,290 SF
    Total Rate
    12967.5

    Building Details

    Year Built
    1998
    Stories
    1

    Unit(s) available at that property

    Space
    Available Space
    Size
    17,290 SF
    Rate per SF
    $9

    HighLights

    • 17,290‑square‑foot refrigerated/cold storage facility in Le Mars, IA on a 1.66‑acre lot.
    • Single‑tenant property with significant expansion potential.
    • Features 3 loading docks, 16‑20' ceilings, cooler/freezer space, and over 500 pallet positions.
    • Includes 6,762 sq ft cooler/processing room (35°), and 2,083 sq ft freezer (-5°).
    • Ammonia refrigeration system, interstitial ceiling, and ample parking.
    • Currently leased, with potential for early lease termination.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    NorAm North Manufacturer

    Suggested Use

    Restaurant Realty agency Law Firm Spa & Massage Dental Office Wholesale Shop Auto Repair Shop Hair Salon Clothing Store Nail Salon

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

    Location Insight

    • Map
    • Local Demand
    City
    Le Mars
    County
    Plymouth
    State
    Iowa
    Longitude
    -96.1776805
    Latitude
    42.775676

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    FAQs

    What type of property is this?
    Refrigerated / Cold Storage - 17,290 SF, Single Tenant, Excellent Location
    Where is this refrigerated / cold storage located?
    The property is located at 700 Prospect St Le Mars, IA.
    What is the lease rate?
    The lease rate is $9 SF/Yr.
    What are key features of this property?
    This property features: 17,290-square-foot refrigerated/cold storage facility in Le Mars, IA on a 1.66-acre lot.; Single-tenant property with significant expansion potential.; Features 3 loading docks, 16-20' ceilings, cooler/freezer space, and over 500 pallet positions.
    Request Owner's contact information
    700 Prospect St Le Mars, IA 51031
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    Le Mars, IA 51031
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    Realmo Value Estimation

    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.

    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.

    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
    700 Prospect St Le Mars, IA 51031
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