Flex Garage Unit with In-Floor
For Sale
$178,870
721 Industrial Boulevard #E15, Watertown, MN 55388
A new commercial unit is planned with a 16-foot-wide insulated garage door, dedicated electrical service, and a fire suppression system.
Property Size1,090 SF
Price / SF$164.10
Days on Market11
Property Features for 721 Industrial Boulevard #E15
General Information
Standard status
Active
Size
1,090 SF
Property subtype
Commercial
Zoning
Business/Commercial
Additional Details
Fenced Yard
Yes
Power
100 amps
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 20
Changed: Oct 26
Last Checked: Oct 29 at 11:19PM
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.
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Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
Scheduled for construction in Phase II of the Workshops of Watertown, this 1,090-square-foot flex unit measures 26 by 40 feet. Interior features include sheetrock walls, a tin ceiling, two LED lights, in-floor heat, and a 100-amp electrical service. The insulated garage door measures 16 feet wide by 14 feet high and includes an opener. A trench drain is set into the concrete floor, which is designed to support a future mezzanine. Bathroom plumbing, including a shower, is roughed in. Exterior improvements include LP siding, a shingled roof, concrete aprons, and an asphalt lot.
The property is zoned Business/Commercial. Association services include lawn care, snow removal, garbage collection, and a security fence with controlled entrance gates. A wash bay and lounge are planned for future addition.
The property is zoned Business/Commercial. Association services include lawn care, snow removal, garbage collection, and a security fence with controlled entrance gates. A wash bay and lounge are planned for future addition.
Key Highlights
- 1,090‑square‑foot unit measuring 26' x 40'
- 16' wide by 14' high insulated garage door with opener
- 100‑amp electrical service, in‑floor heat, and fire suppression system
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$14,781
Cap Rate
8.26%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$295,620
$295.6K
Cap Rate 7%
$211,157
$211.2K
Cap Rate 9%
$164,233
$164.2K
Market Conditions
NOI Build-Up for 1,090 SF
Gross rent
$23.9K $21.96/SF
− Vacancy
−$1.2K −$1.10/SF
EGI
$22.7K $20.86/SF
− OpEx
−$8.0K −$7.30/SF
NOI
$14.8K $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%
$295,620
Cap Rate 7%
$211,157
Cap Rate 9%
$164,233
Alternative Uses
Best Use
Flex RnD
$211.2K
$184.8K – $246.4K
NOI $14,781 @ 7.0% cap · market cap 8.26%
Second Best
Industrial
$169.2K
$148.0K – $197.4K
NOI $11,841 @ 7.0% cap · market cap 6.62%
Theoretical Best
Office A
$260.1K
$227.6K – $303.4K
NOI $18,204 @ 7.0% cap · market cap 10.18%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Current Use
Lease Details
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
Frequently Asked Questions
What type of property is this?
Flex space - A new commercial unit is planned with a 16-foot-wide insulated garage door, dedicated electrical service, and a fire suppression system.
Where is this flex space located?
The property is located at 721 Industrial Boulevard #E15 Watertown, MN.
What is the asking price?
The asking price for this property is $178,870.
What are key features of this property?
This property features: 1,090‑square‑foot unit measuring 26' x 40'; 16' wide by 14' high insulated garage door with opener; 100‑amp electrical service, in‑floor heat, and fire suppression system
