Garage Flex
721 Industrial Boulevard #E7 Watertown, MN 55388
721 Industrial Boulevard #E7, Watertown, MN, 55388
$164,920
For Sale
$164,920
New commercial garage flex unit with in-floor heat, fire suppression, and rough-in plumbing in an association-maintained workshop setting.
Property Size1,005 SF
Price / SF$164.18
Days on Market416
Property Features for 721 Industrial Boulevard #E7
General Information
- Standard status
- Active
- Size
- 1,005 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 5:06AM Checked: Jul 22 at 5:06AM
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.
New garage flex unit planned for Phase II of the Workshops of Watertown. The to-be-built space is 24' x 40' and will include sheet-rocked walls, a tin ceiling, an insulated garage door with opener, LED lighting, in-floor heat, a 100-amp electrical service, and a fire suppression system. The unit also features a floor trench drain, rough-in for a bathroom with shower, LP siding, asphalt shingles roof, concrete floor, and concrete aprons. The concrete floor is structured for a future mezzanine.
The association provides lawn care, snow removal, garbage service, and security fencing/entrance gates. Asphalt lot parking is included. A future wash bay and lounge are planned.
This property is offered for sale as zoned commercial, with businesses welcome. Existing unit(s) are available for tours upon request.
The association provides lawn care, snow removal, garbage service, and security fencing/entrance gates. Asphalt lot parking is included. A future wash bay and lounge are planned.
This property is offered for sale as zoned commercial, with businesses welcome. Existing unit(s) are available for tours upon request.
Key Highlights
- To‑be‑built 1,004.5 SF garage flex unit (24' x 40') in Phase II of the Workshops of Watertown
- Features include in‑floor heat, sheet rocked walls, and a 16'W x 14'H insulated garage door with opener
- Equipped with 100 amp electrical service, floor trench drain, and a fire suppression system
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 | $22.1k | $21.96 |
| − Vacancy | −$1.1k | −$1.10 |
| EGI | $21.0k | $20.86 |
| − OpEx | −$7.3k | −$7.30 |
| NOI | $13.6k | $13.56 |
1,005 SF · lease $21.96/SF/yr · vacancy 5.00% · expense 35.00%
Alternative Uses
Best Use
Flex RnD
$194.6K
$170.3K – $227.0K
NOI $13,621 @ 7.0% cap · market cap 8.26%
Second Best
Industrial
$155.9K
$136.4K – $181.9K
NOI $10,913 @ 7.0% cap · market cap 6.62%
Theoretical Best
Office A
$239.7K
$209.7K – $279.6K
NOI $16,776 @ 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 - New commercial garage flex unit with in-floor heat, fire suppression, and rough-in plumbing in an association-maintained workshop setting.
Where is this flex space located?
The property is located at 721 Industrial Boulevard #E7 Watertown, MN.
What is the asking price?
The asking price for this property is $164,920.
What are key features of this property?
This property features: To‑be‑built 1,004.5 SF garage flex unit (24' x 40') in Phase II of the Workshops of Watertown; Features include in‑floor heat, sheet rocked walls, and a 16'W x 14'H insulated garage door with opener; Equipped with 100 amp electrical service, floor trench drain, and a fire suppression system
