Watertown Garage Condo For Sale

721 Industrial Boulevard D5, Watertown, MN 55388

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For Sale

$295,500

1500 SF garage condo with in-floor heat and amenities.

Type:Commercial/Industrial

Property size:

1,500 SF

Price / SF:

$197/SF

HighLights

1500 sq ft garage condo in the Workshops of Watertown.
Features in‑floor heat and 100‑amp electrical service.
The 16'x14' insulated garage door comes with an opener.
Benefit from a rough‑in for bathroom with shower and structured for future mezzanine.
Association provides lawn care, snow removal, refuse, and security.
Zoned commercial/multi‑use; businesses welcome.

We can help!

Listing Contact

Butcher Real Estate Team

For Sale

$295,500

1500 SF garage condo with in-floor heat and amenities.

Type:Commercial/Industrial

Property size:

1,500 SF

Price / SF:

$197/SF

Added:: Dec 27, 2024
Days on Market:: 536
Last Refresh:: May 19 at 9:06 pm

Property Features for 721 Industrial Boulevard D5

General Information

Standard status: Active
Size: 1,500 SF
Property subtype: Commercial/Industrial

Building Details

Year Built: 2023

We can help!

Listing Contact

Butcher Real Estate Team

Listing agent Butcher Real Estate Team

Listing office Edina Realty, Inc.

Listing date Dec 27, 2024

Source Exitrealty

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

All listing content including descriptions, pricing, images are the copyrighted material of Edina Realty, Inc.

HighLights

1500 sq ft garage condo in the Workshops of Watertown.
Features in‑floor heat and 100‑amp electrical service.
The 16'x14' insulated garage door comes with an opener.
Benefit from a rough‑in for bathroom with shower and structured for future mezzanine.
Association provides lawn care, snow removal, refuse, and security.
Zoned commercial/multi‑use; businesses welcome.

Overview

This 1500 square foot garage condo at the Workshops of Watertown offers a 30' x 50' space. The unit features sheet rocked walls, a tin ceiling, and a 16' wide by 14' high insulated garage door with an opener. It includes two LED lights, in-floor heat, 100-amp electrical service, a floor trench drain, and a fire suppression system. The unit is rough-in ready for a bathroom with a shower and is structured for a future mezzanine. Exterior features include LP siding, an asphalt shingled roof, concrete aprons, and an asphalt lot. The association provides lawn care, snow removal, refuse services, and security. Upcoming amenities include entrance gates, security fencing, a wash bay, a dump station, and a lounge. Financing options are available. Zoned commercial/multi-use, businesses are welcome.

Local Financial Insights For Flex RnD

Simulate Cap Rate and NOI

NOI Build-Up

Component	$	$/SF
Gross rent	$32.9k	$21.96
− Vacancy	−$1.6k	−$1.10
EGI	$31.3k	$20.86
− OpEx	−$11.0k	−$7.30
NOI	$20.3k	$13.56

1,500 SF · lease $21.96/SF/yr · vacancy 5.00% · expense 35.00%

Alternative Uses

Best Use

Flex RnD

$290.6K

$254.3K – $339.0K (±1% cap)

NOI $20,340 @ 7.0% cap · market cap 6.88%

Second Best

Industrial

$232.8K

$203.7K – $271.6K (±1% cap)

NOI $16,296 @ 7.0% cap · market cap 5.51%

Theoretical Best

Office A

$357.9K

$313.1K – $417.5K (±1% cap)

NOI $25,051 @ 7.0% cap · market cap 8.48%

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

Property Profile Location Intelligence

Current Use by Public Records

Flex space

Suggested Use

Location Insight

Map
Local Demand

City: Watertown
County: Carver
State: Minnesota
Longitude: -93.8517
Latitude: 44.941

Nearby Similar for Sale

$210,000

Move-In Ready Flex Garage Unit

Finished flex garage space with insulated overhead door, vaulted ceilings, and dedicated bathroom plus mezzanine storage.

B4-721 Industrial Blvd, Watertown, MN

View Details
$197,500

1,490 SF

Watertown Garage Condos For Sale

Versatile garage condos built in 2022, suitable for various uses.

721 Industrial Blvd, Watertown, MN

View Details

For sale
Flex space
MN
Watertown
55388
721 Industrial Boulevard D5

What type of property is this?

Flex space - 1500 SF garage condo with in-floor heat and amenities.

Where is this flex space located?

The property is located at 721 Industrial Boulevard D5 Watertown, MN.

What is the asking price?

The asking price for this property is $295,500.

What are key features of this property?

This property features: 1500 sq ft garage condo in the Workshops of Watertown.; Features in‑floor heat and 100‑amp electrical service.; The 16'x14' insulated garage door comes with an opener.