Adjoining Flex Space
For Sale
$197,500
721 Industrial Boulevard B3, Watertown, MN 55388
Two connected commercial units combine garage functionality with dedicated bathrooms and workspace improvements.
Property Size1,490 SF
Price / SF$132.55
Days on Market72
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Property Features for 721 Industrial Boulevard B3
General Information
Standard status
Active
Size
1,490 SF
Warehouse & Industrial
Mezzanine
400 SF
Power
100 amps
Conditioned Warehouse
Yes
Additional Details
Highway Access
Yes
Amenities
lawn care
snow removal
refuse
security
Building Details
Year Built
2022
Listing Agency:
Compass
Listed By:
Laura Hotvet
(612) 816-7537
Source:
Homesminn
Added: Aug 5
Changed: Oct 15
Last Checked: Oct 15 at 12:12AM
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 Compass
Investment Insights
Based on property information with market context.
Units B3 and B4 comprise adjoining flex space within The Workshop of Watertown. Built in 2022, the property includes 14-foot insulated overhead doors, vaulted ceilings ranging from 16 to 20 feet, in-floor heat, air conditioning, LED lighting, 100-amp electrical service, a floor trench drain, and fire suppression. A 40' x 10' mezzanine and a separate bathroom in each unit add practical utility. The property measures 1,490 SF.
Exterior improvements include LP siding, an asphalt roof, concrete aprons, and a paved lot. Access to Highways 7 and 12 connects the property with the Twin Cities. The association provides lawn care, snow removal, refuse service, and security, supporting uses that require functional garage and workspace features.
Exterior improvements include LP siding, an asphalt roof, concrete aprons, and a paved lot. Access to Highways 7 and 12 connects the property with the Twin Cities. The association provides lawn care, snow removal, refuse service, and security, supporting uses that require functional garage and workspace features.
Key Highlights
- Adjoining Units B3 & B4 at The Workshop of Watertown
- 1,490 SF property built in 2022
- 14' insulated overhead doors and 16'–20' vaulted ceilings
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$16,187
Cap Rate
8.20%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$323,740
$323.7K
Cap Rate 7%
$231,243
$231.2K
Cap Rate 9%
$179,856
$179.9K
Market Conditions
NOI Build-Up for 1,490 SF
Gross rent
$24.1K $16.20/SF
− Vacancy
−$1.0K −$0.68/SF
EGI
$23.1K $15.52/SF
− OpEx
−$6.9K −$4.66/SF
NOI
$16.2K $10.86/SF
Area
Carver County, MN
Vacancy
4.20%
Lease Rate
$16.20 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$323,740
Cap Rate 7%
$231,243
Cap Rate 9%
$179,856
Alternative Uses
Best Use
Flex RnD
$288.6K
$252.6K – $336.8K
NOI $20,205 @ 7.0% cap · market cap 10.23%
Second Best
Warehouse
$280.8K
$245.7K – $327.6K
NOI $19,656 @ 7.0% cap · market cap 9.95%
Theoretical Best
Office A
$355.5K
$311.1K – $414.7K
NOI $24,884 @ 7.0% cap · market cap 12.60%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
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Current Use
Lease Details
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
9
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 55388, MN
5,984
Population
2,386
Households
2.5
Avg Household Size
39
Median Age
23%
College-Educated
96%
High-School Grad
37.6 sq mi
ZIP Area
159
Density / Sq Mi
$92,273
Median Household Income
$48,955
Median Earnings
$998
Median Rent
$333,100
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Industrial in Midwest region
Frequently Asked Questions
What type of property is this?
Flex space - Two connected commercial units combine garage functionality with dedicated bathrooms and workspace improvements.
Where is this flex space located?
The property is located at 721 Industrial Boulevard B3 Watertown, MN.
What is the asking price?
The asking price for this property is $197,500.
What are key features of this property?
This property features: Adjoining Units B3 & B4 at The Workshop of Watertown; 1,490 SF property built in 2022; 14' insulated overhead doors and 16'–20' vaulted ceilings
