Deeded Flex Storage
For Sale
Contact for pricing
721 Industrial Blvd, Watertown, MN 55388
Built in 2022, Units B3 and B4 are deeded flex storage spaces suitable for vehicles, boats, or workshop use.
Property Size1,490 SF
Price / SF$120.81
Days on Market415
Property Features for 721 Industrial Blvd
General Information
Standard status
Active
Size
1,490 SF
Property subtype
INDUSTRIAL
Building Details
Year Built
2022
Listing Agency:
Compass Real Estate
(952) 454-6563
Listed By:
Laura Hotvet · License #40713125
(612) 816-7537
Source:
Moodyscre
Added: Sep 11, 2025
Changed: Oct 25
Last Checked: Oct 28 at 12:22PM
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 Compass Real Estate
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Investment Insights
Based on property information with market context.
Units B3 and B4 at The Workshop of Watertown are flex storage/garage-condo style spaces built in 2022. The units are designed for secure, versatile use, with configuration suited to storing items such as RVs, boats, and vehicles, as well as accommodating a workshop, studio, or business needs.
The property is located at 721 Industrial Blvd in Watertown, MN 55388, with access provided directly from the industrial boulevard. Ownership is deeded, giving buyers control over their individual storage and flex space.
Offered for sale as an investment opportunity, these newer units provide low-maintenance construction and modern amenities within a small, secure storage/flex environment.
The property is located at 721 Industrial Blvd in Watertown, MN 55388, with access provided directly from the industrial boulevard. Ownership is deeded, giving buyers control over their individual storage and flex space.
Offered for sale as an investment opportunity, these newer units provide low-maintenance construction and modern amenities within a small, secure storage/flex environment.
Key Highlights
- Built in 2022: deeded Units B3 and B4 at The Workshop of Watertown (721 Industrial Blvd, Watertown).
- Deeded flex storage spaces suitable for vehicles, boats, or workshop use.
- Units are described as versatile for uses including an RV/boat/car space and room for a workshop, studio, or business needs.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$16,187
Cap Rate
8.99%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$323,740
$323.7K
Cap Rate 7%
$231,243
$231.2K
Cap Rate 9%
$179,856
$179.9K
Market Conditions
NOI Build-Up for 1,490 SF
Gross rent
$24.1K $16.20/SF
− Vacancy
−$1.0K −$0.68/SF
EGI
$23.1K $15.52/SF
− OpEx
−$6.9K −$4.66/SF
NOI
$16.2K $10.86/SF
Area
Carver County, MN
Vacancy
4.20%
Lease Rate
$16.20 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$323,740
Cap Rate 7%
$231,243
Cap Rate 9%
$179,856
Alternative Uses
Best Use
Flex RnD
$288.6K
$252.6K – $336.8K
NOI $20,205 @ 7.0% cap · market cap 11.23%
Second Best
Warehouse
$280.8K
$245.7K – $327.6K
NOI $19,656 @ 7.0% cap · market cap 10.92%
Theoretical Best
Office A
$355.5K
$311.1K – $414.7K
NOI $24,884 @ 7.0% cap · market cap 13.82%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Open Analytics
Current Use
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
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Market
Vacancy Rate% for Industrial in Midwest region
Frequently Asked Questions
What type of property is this?
Flex space - Built in 2022, Units B3 and B4 are deeded flex storage spaces suitable for vehicles, boats, or workshop use.
Where is this flex space located?
The property is located at 721 Industrial Blvd Watertown, MN.
What is the asking price?
The asking price for this property is $180,000.
What are key features of this property?
This property features: Built in 2022: deeded Units B3 and B4 at The Workshop of Watertown (721 Industrial Blvd, Watertown).; Deeded flex storage spaces suitable for vehicles, boats, or workshop use.; Units are described as versatile for uses including an RV/boat/car space and room for a workshop, studio, or business needs.
