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Property profile & analytics
OFF-MARKET Estimated value $865,000
Manufacturing properties

700 Prospect SW St Le Mars, IA 51031-3030

17,290 SF 3.81 ac lot Built 1998
Entity Owned Absentee Owner Free & Clear
Property ID
US25-0155198
Property summary
AI-generated overview

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 profile
Verified
Property type Manufacturing properties
Use group MANUFACTURING (LIGHT)
Year built 1998
Total area 17,290 SF
Lot 3.81 ac (165,963 SF)
APN 12-20-227-022
UPID US25-0155198
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Current use
Occupant on record · Public records
  • NorAm North Industrial Manufacturer Production Facility
Value estimations
Realmo proprietary · 4 methods
AI Approach AI
$560k
CAP Approach CAP
by Request
Comparable Approach Comparable
$1.17M
Blend (final) Blend
$865k
Owner & transaction history
NORAM COLD STORAGE INC
NORAM COLD STORAGE INC
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Auto repair, garage $1.4M +65.2%
Warehouse, storage $1.4M +65.1%
Restaurant $1.3M +55.4%
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