Flex Garage
For Sale
$193,870
721 Industrial Boulevard #E17, Watertown, MN 55388
Commercial zoning and association-provided services complement a garage space designed for vehicle storage or work.
Property Size1,093 SF
Price / SF$177.37
Days on Market11
Property Features for 721 Industrial Boulevard #E17
General Information
Standard status
Active
Size
1,093 SF
Property subtype
Commercial
Zoning
Business/Commercial
Warehouse & Industrial
Drive-In Doors
1
Power
100 amps
Additional Details
Fenced Yard
Yes
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 25
Last Checked: Oct 29 at 10:53PM
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.
Planned for Phase II at the Workshops of Watertown, this flex unit measures 1,093 square feet and 26' x 40'. The interior is specified with sheetrock walls, a tin ceiling, two LED lights, and a 16-foot-wide by 14-foot-high insulated garage door with opener. Additional features include in-floor heat, 100-amp electrical service, a floor trench drain, fire suppression, and a rough-in for a bathroom with shower. The concrete floor is structured for a future mezzanine.
The property is zoned Business/Commercial. Association services include lawn care, snow removal, garbage service, and security fencing with gated entry. Asphalt paving and concrete aprons are planned. A wash bay and lounge are also planned for the development.
The property is zoned Business/Commercial. Association services include lawn care, snow removal, garbage service, and security fencing with gated entry. Asphalt paving and concrete aprons are planned. A wash bay and lounge are also planned for the development.
Key Highlights
- 1,093 sf unit with 26' x 40' dimensions
- 16'w x 14' h insulated garage door with opener
- In‑floor heat, 100 amp electrical service, trench drain, and fire suppression
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$14,821
Cap Rate
7.64%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$296,420
$296.4K
Cap Rate 7%
$211,729
$211.7K
Cap Rate 9%
$164,678
$164.7K
Market Conditions
NOI Build-Up for 1,093 SF
Gross rent
$24.0K $21.96/SF
− Vacancy
−$1.2K −$1.10/SF
EGI
$22.8K $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%
$296,420
Cap Rate 7%
$211,729
Cap Rate 9%
$164,678
Alternative Uses
Best Use
Flex RnD
$211.7K
$185.3K – $247.0K
NOI $14,821 @ 7.0% cap · market cap 7.64%
Second Best
Industrial
$169.6K
$148.4K – $197.9K
NOI $11,874 @ 7.0% cap · market cap 6.12%
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 authorities.
How Realmo checks its estimates
Property Analytics
Current Use
Lease Details
1
Drive-in doors
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 - Commercial zoning and association-provided services complement a garage space designed for vehicle storage or work.
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: 1,093 sf unit with 26' x 40' dimensions; 16'w x 14' h insulated garage door with opener; In‑floor heat, 100 amp electrical service, trench drain, and fire suppression
