Heated Self-Storage
For Sale
$183,790
721 Industrial Boulevard #E5, Watertown, MN 55388
The planned commercial unit includes in-floor heat, a large insulated garage door, and a bathroom rough-in with shower.
Property Size1,120 SF
Price / SF$164.17
Days on Market510
Property Features for 721 Industrial Boulevard #E5
General Information
Standard status
Active
Size
1,120 SF
Property subtype
Commercial
Zoning
Business/Commercial
Additional Details
Power
100 amps
Property Use
Garage
Taxes and HOA fees
Annual Taxes
$7,370
Building Details
Year Built
2026
Stories
1
Units
1
Listing Agency:
Edina Realty, Inc.
(763) 682-3434
Listed By:
Butcher Real Estate Team
(952) 212-2374
Source:
Driveresultsrealty
Added: Jun 2, 2025
Changed: Oct 23
Last Checked: Oct 23 at 3:45PM
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.
A new garage unit is planned for Phase II of the Workshops of Watertown, with construction identified for 2026. The 1,119.5-square-foot space measures 26.75 feet by 40 feet and is designed with sheet-rocked walls, a tin ceiling, and an insulated 16-foot-wide by 14-foot-high garage door with opener. Other features include in-floor heat, 100-amp electrical service, two LED lights, a floor trench drain, and fire suppression. A bathroom with shower is roughed in, and the concrete floor is engineered for a future mezzanine.
The unit has LP siding, a shingled roof, concrete aprons, and an asphalt lot. The association handles lawn care, snow removal, and garbage service; the property also has security fencing and entrance gates. A wash bay and lounge are planned additions. The zoning is Business/Commercial, and existing units can be toured by request.
The unit has LP siding, a shingled roof, concrete aprons, and an asphalt lot. The association handles lawn care, snow removal, and garbage service; the property also has security fencing and entrance gates. A wash bay and lounge are planned additions. The zoning is Business/Commercial, and existing units can be toured by request.
Key Highlights
- 1,119.5‑square‑foot unit measuring 26.75'x40'
- 16'w x 14' h insulated garage door with opener
- In‑floor heat, 100 amp electrical service, and fire suppression system
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$14,768
Cap Rate
8.04%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$295,360
$295.4K
Cap Rate 7%
$210,971
$211.0K
Cap Rate 9%
$164,089
$164.1K
Market Conditions
NOI Build-Up for 1,120 SF
Gross rent
$18.1K $16.20/SF
− Vacancy
−$762 −$0.68/SF
EGI
$17.4K $15.52/SF
− OpEx
−$2.6K −$2.33/SF
NOI
$14.8K $13.19/SF
Area
Carver County, MN
Vacancy
4.20%
Lease Rate
$16.20 /SF/Yr
Expense Ratio
15.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$295,360
Cap Rate 7%
$210,971
Cap Rate 9%
$164,089
Alternative Uses
Best Use
Warehouse
$211.0K
$184.6K – $246.1K
NOI $14,768 @ 7.0% cap · market cap 8.04%
Second Best
Self Storage
$171.4K
$150.0K – $200.0K
NOI $11,997 @ 7.0% cap · market cap 6.53%
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 authorities.
How Realmo checks its estimates
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
9
Businesses Nearby
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?
Self storage facility - The planned commercial unit includes in-floor heat, a large insulated garage door, and a bathroom rough-in with shower.
Where is this self storage facility 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: 1,119.5‑square‑foot unit measuring 26.75'x40'; 16'w x 14' h insulated garage door with opener; In‑floor heat, 100 amp electrical service, and fire suppression system
