Flex Garage
New
For Sale
$164,920
721 Industrial Boulevard #E11, Watertown, MN 55388
Commercially zoned space features in-floor heating, a trench drain, and a rough-in for a bathroom with shower.
Property Size1,005 SF
Price / SF$164.18
Days on Market3
Property Features for 721 Industrial Boulevard #E11
General Information
Standard status
Active
Size
1,005 SF
Property subtype
Commercial
Zoning
Business/Commercial
Warehouse & Industrial
Drive-In Doors
1
Power
100 amps
Sprinkler System
Yes
Additional Details
Property Use
Garage
Taxes and HOA fees
Annual Taxes
$7,370
Amenities
lawn care
snow removal
garbage service
security fencing/entrance gates
Building Details
Year Built
2026
Units
1
Listing Agency:
Edina Realty, Inc.
Listed By:
Butcher Real Estate Team
(952) 212-2374
Source:
Getyoumoved
Added: Oct 22
Changed: Oct 23
Last Checked: Oct 23 at 4:20PM
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.
A new 1,004.5-square-foot flex unit is planned for Phase II of the Workshops of Watertown, with a 24-by-40-foot footprint and a 2026 year built. The interior includes finished walls, a metal ceiling, two LED fixtures, in-floor heat, 100-amp electrical service, and a floor trench drain. A 16-foot-wide by 14-foot-high insulated garage door has an opener, and the concrete slab is designed to accommodate a future mezzanine. A bathroom with shower is roughed in, and the unit includes a fire suppression system.
Exterior features include LP siding, a shingle roof, concrete aprons, and an asphalt lot. The association handles lawn care, snow removal, and garbage service, with security fencing and gated entry. A wash bay and lounge are planned for a future addition. The property is zoned Business/Commercial, and tours of existing units can be arranged upon request.
Exterior features include LP siding, a shingle roof, concrete aprons, and an asphalt lot. The association handles lawn care, snow removal, and garbage service, with security fencing and gated entry. A wash bay and lounge are planned for a future addition. The property is zoned Business/Commercial, and tours of existing units can be arranged upon request.
Key Highlights
- New 1,004.5‑square‑foot unit planned for Phase II; 24'x40' footprint
- 16'w x 14' h insulated garage door with opener
- In‑floor heat, 100 amp electrical service, and floor trench drain
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$13,621
Cap Rate
8.26%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$272,420
$272.4K
Cap Rate 7%
$194,586
$194.6K
Cap Rate 9%
$151,344
$151.3K
Market Conditions
NOI Build-Up for 1,005 SF
Gross rent
$22.1K $21.96/SF
− Vacancy
−$1.1K −$1.10/SF
EGI
$21.0K $20.86/SF
− OpEx
−$7.3K −$7.30/SF
NOI
$13.6K $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%
$272,420
Cap Rate 7%
$194,586
Cap Rate 9%
$151,344
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.
How Realmo checks its estimates
Property Analytics
Current Use
Lease Details
1
Drive-in doors
Yes
Sprinkler system
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
Frequently Asked Questions
What type of property is this?
Flex space - Commercially zoned space features in-floor heating, a trench drain, and a rough-in for a bathroom with shower.
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: New 1,004.5‑square‑foot unit planned for Phase II; 24'x40' footprint; 16'w x 14' h insulated garage door with opener; In‑floor heat, 100 amp electrical service, and floor trench drain
