To-Be-Built Workshop Garage
721 Industrial Boulevard #E17 Watertown, MN 55388
721 Industrial Boulevard #E17, Watertown, MN, 55388
$193,870
For Sale
$193,870
New Phase II garage unit planned with in-floor heat, fire suppression, and insulated overhead door.
Property Size1,093 SF
Price / SF$177.37
Days on Market417
Property Features for 721 Industrial Boulevard #E17
General Information
- Standard status
- Active
- Size
- 1,093 SF
- Property subtype
- Commercial
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 Updated: Jul 22 at 8:42PM Checked: Jul 22 at 8:42PM
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 workshop/garage unit is coming soon to Phase II of the Workshops of Watertown at 721 Industrial Boulevard #E17. The to-be-built space is planned at 26’ x 40’ and includes sheetrocked walls and a tin ceiling, an insulated garage door (16’ wide x 14’ high) with opener, and two LED lights. Interior improvements also include in-floor heat, a floor trench drain, and a fire suppression system, plus 100-amp electrical service and rough-in plumbing for a bathroom with shower.
Site and exterior features are planned with LP siding, asphalt, and a shingled roof, along with concrete aprons and an asphalt lot. The concrete floor is structured for a future mezzanine. Association services include lawn care, snow removal, garbage service, and security fencing/entrance gates. Future additions include a wash bay and lounge.
Zoning is commercial, with businesses welcome. Existing unit(s) are available for tours upon request.
Site and exterior features are planned with LP siding, asphalt, and a shingled roof, along with concrete aprons and an asphalt lot. The concrete floor is structured for a future mezzanine. Association services include lawn care, snow removal, garbage service, and security fencing/entrance gates. Future additions include a wash bay and lounge.
Zoning is commercial, with businesses welcome. Existing unit(s) are available for tours upon request.
Key Highlights
- New Phase II garage unit planned, Year Built 2026
- To be built 1,093 SF unit measuring 26' x 40'
- In‑floor heat plus 16' x 14' insulated garage door with opener
Local 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 | $24.0k | $21.96 |
| − Vacancy | −$1.2k | −$1.10 |
| EGI | $22.8k | $20.86 |
| − OpEx | −$8.0k | −$7.30 |
| NOI | $14.8k | $13.56 |
1,093 SF · lease $21.96/SF/yr · vacancy 5.00% · expense 35.00%
Alternative Uses
Best Use
Flex RnD
$211.7K
$185.3K – $247.0K
NOI $14,821 @ 7.0% cap · market cap 7.64%
Second Best
Warehouse
$206.0K
$180.2K – $240.3K
NOI $14,418 @ 7.0% cap · market cap 7.44%
Theoretical Best
Office A
$260.8K
$228.2K – $304.2K
NOI $18,254 @ 7.0% cap · market cap 9.42%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Flex space
Similar For Sale Nearby
FAQs
What type of property is this?
Flex space - New Phase II garage unit planned with in-floor heat, fire suppression, and insulated overhead door.
Where is this flex space located?
The property is located at 721 Industrial Boulevard #E17 Watertown, MN.
What is the asking price?
The asking price for this property is $193,870.
What are key features of this property?
This property features: New Phase II garage unit planned, Year Built 2026; To be built 1,093 SF unit measuring 26' x 40'; In‑floor heat plus 16' x 14' insulated garage door with opener
