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    11261 Us Highway 69 Story City, IA 50248

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    For Lease
    $4 SF/Yr

    Story City, IA industrial warehouse

    Lot size:
    102,936 SF

    Property Features for 11261 Us Highway 69

    General Information

    Property type
    Distribution properties
    Lease Type
    Gross Lease
    RSF (Rentable sq. ft)
    102,936 SF
    Class
    C
    Total Rate
    34312

    Building Details

    Year Built/Renovated
    1994/2000
    Buildings
    2
    Stories
    1

    Spaces For Lease

    at 11261 Us Highway 69, Story City, IA 50248 Contact us
    Unit Available Space 2

    $4 /Mo

    Size
    9,000 SF
    Contact us

    We can help!

    Listing Contact
    Mike Purcell
    Mike Purcell

    Listing Agency: Friedrich Iowa Realty Listing Agent: Mike Purcell

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Overview

    This Story City, IA property, located at 11261 US Hwy 69, offers 102,936 square feet of warehouse space in two single-story buildings. Currently, 9,000 square feet is available for lease, with a minimum divisible space of 9,000 square feet and a maximum contiguous space of 102,936 square feet. The property features four total suites, is classified as Class C, and was built in 1994, with renovations completed in 2000. The warehouse boasts ceiling heights ranging from 20 to 24 feet, providing ample vertical space. Loading capabilities include two loading docks with four dock-high doors and three drive-in doors. The property has 800 amps of power and is zoned for Commercial/Light Industrial use. The convenient location offers easy access to Interstate 35, just 2.5 miles away. Some shared office space is also available. The property's APN is 10-85-24. This is an excellent opportunity for businesses needing substantial warehouse space in a prime location.
    Property Profile Location Intelligence

    Current Use by Public Records

    Distribution centers

    Suggested Use

    Building Supply Big Box & Wholesale Store Auto Repair Shop Food Market Storage Facility Butcher

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

    Location Insight

    • Map
    • Local Demand
    City
    Story City
    County
    Story
    State
    Iowa
    Longitude
    -93.620383959236
    Latitude
    42.192590292065

    Nearby Similar for Lease

    • $4 SF/Yr
      93,203 SF

      Story City Industrial Property

      93,203 SF Manufacturing/Warehouse Space
      216 1St St, Story City, IA 50248
      View Details
    • $4 SF/Yr
      9,000 SF

      9,000 SF Storage Warehouse

      Well-maintained warehouse ideal for bulk storage, near Interstate 35.
      11261 Us 69, Story City, IA
      View Details
    • $10 SF/Yr
      30,000 SF

      Story City Warehouse/Manufacturing Space

      Flexible industrial space suitable for storage or light manufacturing.
      1811 Rich Olive St, Story City, IA
      View Details

    FAQs

    What type of property is this?
    Distribution property - Story City, IA industrial warehouse
    Where is this distribution property located?
    The property is located at 11261 Us Highway 69 Story City, IA.
    What is the lease rate?
    The lease rate is $4 SF/Yr.
    What are key features of this property?
    This property features: 9,000 SF of warehouse space immediately available for lease.; Located on US Hwy 69, 2.5 miles from I-35 for excellent access.; Suitable for bulk storage due to 20'-24' clear ceiling heights.
    (515) 231-6083
    Request Owner's contact information
    11261 Us Highway 69 Story City, IA 50248
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    Story City, IA 50248
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    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
    11261 Us Highway 69 Story City, IA 50248
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    We can help!
    Listing Contact
    Mike Purcell
    Mike Purcell
    Real Estate License ID: B64484
    (515) 231-6083 (515) 232-6175 (515) 956-1534
    Learn more
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