Flex Garage
For Sale
$164,920
721 Industrial Boulevard #E11, Watertown, MN 55388
To-be-built flex garage unit with insulated door, in-floor heat, 100-amp service, and fire suppression.
Property Size1,005 SF
Price / SF$164.18
Days on Market425
Property Features for 721 Industrial Boulevard #E11
General Information
Standard status
Active
Size
1,005 SF
Property subtype
Commercial
Zoning
commercial
Warehouse & Industrial
Drive-In Doors
1
Sprinkler System
Yes
Additional Details
Fenced Yard
Yes
Amenities
lawn care
snow removal
garbage service
security fencing/entrance gates
Building Details
Year Built
2026
Listing Agency:
Edina Realty, Inc.
(952) 212-2374
Listed By:
Butcher Real Estate Team
(952) 212-2374
Source:
Juverealestate
Added: Jun 2, 2025
Changed: Jul 22
Last Checked: Jul 30 at 12:29PM
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.
Investment Insights
Based on property information with market context.
A new garage unit is coming soon to Phase II of the Workshops of Watertown. The planned unit is approximately 24' x 40' and will include sheet-rocked walls, a tin ceiling, an insulated garage door with opener, in-floor heat, and two LED lights. The building is slated to feature a floor trench drain, a fire suppression system, and rough-in plumbing for a bathroom with a shower. Electrical service will be provided at 100 amps. The concrete floor is structured for a future mezzanine, and the unit will be finished with LP siding, asphalt surfaces, and a shingled roof, along with concrete aprons and an asphalt lot.
The association will provide lawn care, snow removal, garbage service, and security fencing/entrance gates. Future wash bay and lounge improvements are planned for the project. Zone commercial with businesses welcome. Existing unit(s) are available for tours upon request.
The association will provide lawn care, snow removal, garbage service, and security fencing/entrance gates. Future wash bay and lounge improvements are planned for the project. Zone commercial with businesses welcome. Existing unit(s) are available for tours upon request.
Key Highlights
- To‑be‑built 1,004.5 SF flex garage unit in Phase II of the Workshops of Watertown
- 24' x 40' insulated garage door with opener, sheet‑rocked walls, and LP siding
- In‑floor heat plus 100‑amp electrical service, with 2 LED lights and fire suppression system
Financial Insights For Flex RnD
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $22.1k | $21.96 |
| − Vacancy | −$1.1k | −$1.10 |
| EGI | $21.0k | $20.86 |
| − OpEx | −$7.3k | −$7.30 |
| NOI | $13.6k | $13.56 |
1,005 SF · lease $21.96/SF/yr · vacancy 5.00% · expense 35.00%
Alternative Uses
Best Use
Flex RnD
$194.6K
$170.3K – $227.0K
NOI $13,621 @ 7.0% cap · market cap 8.26%
Second Best
Industrial
$155.9K
$136.4K – $181.9K
NOI $10,913 @ 7.0% cap · market cap 6.62%
Theoretical Best
Office A
$239.7K
$209.7K – $279.6K
NOI $16,776 @ 7.0% cap · market cap 10.17%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
1
Drive-in doors
Yes
Sprinkler system
Yes
Fenced yard
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
Market
Vacancy Rate% for Industrial in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Flex space - To-be-built flex garage unit with insulated door, in-floor heat, 100-amp service, and fire suppression.
Where is this flex space located?
The property is located at 721 Industrial Boulevard #E11 Watertown, MN.
What is the asking price?
The asking price for this property is $164,920.
What are key features of this property?
This property features: To‑be‑built 1,004.5 SF flex garage unit in Phase II of the Workshops of Watertown; 24' x 40' insulated garage door with opener, sheet‑rocked walls, and LP siding; In‑floor heat plus 100‑amp electrical service, with 2 LED lights and fire suppression system
