New Flex Garage
721 Industrial Boulevard #E5 Watertown, MN 55388
721 Industrial Boulevard #E5, Watertown, MN, 55388
$183,790
For Sale
$183,790
Newly planned garage unit in Phase II of a workshop community, featuring an insulated door, in-floor heat, and 100-amp service.
Property Size1,120 SF
Price / SF$164.17
Days on Market416
Property Features for 721 Industrial Boulevard #E5
General Information
- Standard status
- Active
- Size
- 1,120 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 6:18AM Checked: Jul 22 at 6:18AM
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 planned for Phase II of the Workshops of Watertown, offering 1119.5 square feet within a flex-style workshop environment. The unit is scheduled to include sheet rocked walls, a tin ceiling, and an insulated garage door with an opener (16' wide by 14' high). Interior features include in-floor heat, two LED lights, a floor trench drain, and a fire suppression system, along with 100 amp electrical service.
The build will also include a rough-in for a future bathroom with a shower, and the concrete floor is structured for a future mezzanine. Exterior improvements call for LP siding with asphalt and a shingled roof, plus concrete aprons and an asphalt lot.
Common services through the association include lawn care, snow removal, garbage service, and security fencing/entrance gates. The property is zoned commercial, and additional amenities such as a future wash bay and lounge are noted for later phases. Existing unit(s) are available for tours upon request.
The build will also include a rough-in for a future bathroom with a shower, and the concrete floor is structured for a future mezzanine. Exterior improvements call for LP siding with asphalt and a shingled roof, plus concrete aprons and an asphalt lot.
Common services through the association include lawn care, snow removal, garbage service, and security fencing/entrance gates. The property is zoned commercial, and additional amenities such as a future wash bay and lounge are noted for later phases. Existing unit(s) are available for tours upon request.
Key Highlights
- 1119.5 SF garage unit planned for Phase II of the Workshops of Watertown
- 26.75' x 40' footprint with insulated 16' x 14' garage door and opener
- In‑floor heat plus 100‑amp electrical service
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 | $24.6k | $21.96 |
| − Vacancy | −$1.2k | −$1.10 |
| EGI | $23.4k | $20.86 |
| − OpEx | −$8.2k | −$7.30 |
| NOI | $15.2k | $13.56 |
1,120 SF · lease $21.96/SF/yr · vacancy 5.00% · expense 35.00%
Alternative Uses
Best Use
Flex RnD
$216.9K
$189.8K – $253.0K
NOI $15,181 @ 7.0% cap · market cap 8.26%
Second Best
Warehouse
$211.0K
$184.6K – $246.1K
NOI $14,768 @ 7.0% cap · market cap 8.04%
Theoretical Best
Office A
$267.1K
$233.7K – $311.6K
NOI $18,696 @ 7.0% cap · market cap 10.17%
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 - Newly planned garage unit in Phase II of a workshop community, featuring an insulated door, in-floor heat, and 100-amp service.
Where is this flex space located?
The property is located at 721 Industrial Boulevard #E5 Watertown, MN.
What is the asking price?
The asking price for this property is $183,790.
What are key features of this property?
This property features: 1119.5 SF garage unit planned for Phase II of the Workshops of Watertown; 26.75' x 40' footprint with insulated 16' x 14' garage door and opener; In‑floor heat plus 100‑amp electrical service
