Flex Space with Overhead
For Sale
$175,000
721 Industrial Boulevard B12, Watertown, MN 55388
Commercially zoned unit with insulated access, in-floor heat, utility connections, and storage-oriented business use potential.
Property Size1,004 SF
Price / SF$174.30
Days on Market55
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Property Features for 721 Industrial Boulevard B12
General Information
Standard status
Active
Size
1,004 SF
Warehouse & Industrial
Power
100 amps
Sprinkler System
Yes
Additional Details
Utilities to Site
Yes
Building Details
Year Built
2022
Listing Agency:
Edina Realty, Inc.
Listed By:
Butcher Real Estate Team
(763) 682-3434
Source:
Homesminn
Added: Aug 22
Changed: Sep 15
Last Checked: Oct 7 at 3:11PM
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.
Located at 721 Industrial Boulevard B12 in Watertown, Minnesota, this 1,004 SF flex space was built in 2022. The unit includes sheet-rocked walls, a tin ceiling, LED lighting, spray foam insulation, in-floor heat, a 14' insulated overhead door with opener, 100-amp electrical service, a floor trench drain, and a fire suppression system. A rough-in bathroom with shower is in place, and the structure is designed to accommodate a future mezzanine. Exterior improvements include LP siding, an asphalt shingle roof, concrete aprons, and a paved asphalt lot.
Electricity, natural gas, city water/sewer, and phone/cable/internet are available. Association services cover lawn care, snow removal, refuse removal, and security. Planned community features include gated access, security fencing, a wash bay, a dump station, and an owners' lounge. Additional planned unit improvements include a combination boiler/water heater, 2 additional LED bay lights, 8 extra outlets, a 50-amp RV/camper outlet, a dehumidifier, and an exhaust fan. Commercial zoning supports a variety of business and personal storage uses.
Electricity, natural gas, city water/sewer, and phone/cable/internet are available. Association services cover lawn care, snow removal, refuse removal, and security. Planned community features include gated access, security fencing, a wash bay, a dump station, and an owners' lounge. Additional planned unit improvements include a combination boiler/water heater, 2 additional LED bay lights, 8 extra outlets, a 50-amp RV/camper outlet, a dehumidifier, and an exhaust fan. Commercial zoning supports a variety of business and personal storage uses.
Key Highlights
- 1,004 SF flex space built in 2022
- 14' insulated overhead door with opener
- 100‑amp electrical service, in‑floor heat, trench drain, and fire suppression system
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$13,615
Cap Rate
7.78%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$272,300
$272.3K
Cap Rate 7%
$194,500
$194.5K
Cap Rate 9%
$151,278
$151.3K
Market Conditions
NOI Build-Up for 1,004 SF
Gross rent
$22.0K $21.96/SF
− Vacancy
−$1.1K −$1.10/SF
EGI
$20.9K $20.86/SF
− OpEx
−$7.3K −$7.30/SF
NOI
$13.6K $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%
$272,300
Cap Rate 7%
$194,500
Cap Rate 9%
$151,278
Alternative Uses
Best Use
Flex RnD
$194.5K
$170.2K – $226.9K
NOI $13,615 @ 7.0% cap · market cap 7.78%
Second Best
Warehouse
$189.2K
$165.6K – $220.7K
NOI $13,244 @ 7.0% cap · market cap 7.57%
Theoretical Best
Office A
$239.5K
$209.6K – $279.5K
NOI $16,767 @ 7.0% cap · market cap 9.58%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Current Use
Lease Details
Yes
Sprinkler system
Yes
Utilities to site
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Industrial in Midwest region
Frequently Asked Questions
What type of property is this?
Flex space - Commercially zoned unit with insulated access, in-floor heat, utility connections, and storage-oriented business use potential.
Where is this flex space located?
The property is located at 721 Industrial Boulevard B12 Watertown, MN.
What is the asking price?
The asking price for this property is $175,000.
What are key features of this property?
This property features: 1,004 SF flex space built in 2022; 14' insulated overhead door with opener; 100‑amp electrical service, in‑floor heat, trench drain, and fire suppression system
