Garage Condo Flex
For Sale
$246,250
Pending
D4-721 Industrial Blvd, Watertown, MN
Garage condo flex unit with insulated door, in-floor heat, 100-amp power, and a floor trench drain.
Property Size1,250 SF
Days on Market672
Property Features for D4-721 Industrial Blvd
General Information
Standard status
Pending
Size
1,250 SF
Zoning
commercial/multi use
Additional Details
Sprinkler System
Yes
Taxes and HOA fees
Annual Taxes
$504
Amenities
sheet rocked walls
tin ceiling
insulated garage door w/opener
2 LED lights
in-floor heat
100-amp electrical service
floor trench drain
fire suppression system
rough-in for bathroom w/shower
structured for future mezzanine
LP siding
asphalt shingled roof
concrete aprons
asphalt lot
lawn care
snow removal
refuse
security
Listing Agency:
Edina Realty, Inc.
(763) 682-3434
Listed By:
Butcher Real Estate Team
(952) 212-2374
Source:
Exprealty
Added: Dec 27, 2024
Changed: Oct 25
Last Checked: Oct 28 at 10:45AM
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.
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This garage condo flex unit is sized at 25' by 50' and features sheet rocked walls and a tin ceiling with 16' w x 14' H insulated garage door, including an opener. Interior amenities include in-floor heat, two LED lights, and a rough-in for a future bathroom with shower. The unit is equipped with 100-amp electrical service and a floor trench drain, along with a fire suppression system. It also has structured support for a future mezzanine and includes LP siding, an asphalt shingled roof, and concrete aprons, with an asphalt lot in the condominium setting.
The property is located at the Workshops of Watertown on Industrial Blvd, with association-provided lawn care, snow removal, refuse, and security. The community plan includes future entrance gates and security fencing, as well as a wash bay, dump station, and lounge. The property is in a commercial/multi-use zoning district, and association services help support day-to-day operations.
The condo improvements and utilities are in place for a range of light warehouse or flex uses, with the garage configuration and drain-ready floor supporting practical shop and storage needs.
The property is located at the Workshops of Watertown on Industrial Blvd, with association-provided lawn care, snow removal, refuse, and security. The community plan includes future entrance gates and security fencing, as well as a wash bay, dump station, and lounge. The property is in a commercial/multi-use zoning district, and association services help support day-to-day operations.
The condo improvements and utilities are in place for a range of light warehouse or flex uses, with the garage configuration and drain-ready floor supporting practical shop and storage needs.
Key Highlights
- Garage condo flex unit at the Workshops of Watertown, 1,250 SF (25' x 50')
- Insulated 16' W x 14' H garage door with opener
- In‑floor heat plus 100‑amp electrical service
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$16,950
Cap Rate
6.88%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$339,000
$339.0K
Cap Rate 7%
$242,143
$242.1K
Cap Rate 9%
$188,333
$188.3K
Market Conditions
NOI Build-Up for 1,250 SF
Gross rent
$27.5K $21.96/SF
− Vacancy
−$1.4K −$1.10/SF
EGI
$26.1K $20.86/SF
− OpEx
−$9.1K −$7.30/SF
NOI
$17.0K $13.56/SF
Area
Carver County, MN
Vacancy
5.00%
Lease Rate
$21.96 /SF/Yr
Expense Ratio
35.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$339,000
Cap Rate 7%
$242,143
Cap Rate 9%
$188,333
Alternative Uses
Best Use
Flex RnD
$242.1K
$211.9K – $282.5K
NOI $16,950 @ 7.0% cap · market cap 6.88%
Second Best
Industrial
$194.0K
$169.8K – $226.3K
NOI $13,580 @ 7.0% cap · market cap 5.51%
Theoretical Best
Office A
$298.2K
$261.0K – $347.9K
NOI $20,876 @ 7.0% cap · market cap 8.48%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Current Use
Lease Details
Yes
Sprinkler system
Location Intelligence
Trade Area within ½ mile
300
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Market
Vacancy Rate% for Industrial in Midwest region
Frequently Asked Questions
What type of property is this?
Flex space - Garage condo flex unit with insulated door, in-floor heat, 100-amp power, and a floor trench drain.
Where is this flex space located?
The property is located at D4-721 Industrial Blvd Watertown, MN.
What is the asking price?
The asking price for this property is $246,250.
What are key features of this property?
This property features: Garage condo flex unit at the Workshops of Watertown, 1,250 SF (25' x 50'); Insulated 16' W x 14' H garage door with opener; In‑floor heat plus 100‑amp electrical service
