Heated-Bay Flex
For Sale
$246,250
721 Industrial Boulevard #D2, Watertown, MN 55388
Commercial unit features in-floor heating, a powered overhead door, and rough-ins for a bathroom with shower.
Property Size1,250 SF
Price / SF$197
Days on Market9
Property Features for 721 Industrial Boulevard #D2
General Information
Standard status
Active
Size
1,250 SF
Property subtype
Commercial
Zoning
Business/Commercial
Additional Details
Power
100 amps
Taxes and HOA fees
Annual Taxes
$504
Amenities
lawn care
snow removal
refuse
security
Building Details
Year Built
2023
Units
1
Listing Agency:
Edina Realty, Inc.
Listed By:
Butcher Real Estate Team
(952) 212-2374
Source:
Getyoumoved
Added: Oct 22
Changed: Oct 26
Last Checked: Oct 29 at 11:16PM
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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Investment Insights
Based on property information with market context.
Built in 2023, this 1,250-square-foot flex unit measures 25 by 50 feet and has sheetrocked walls, a tin ceiling, and an insulated garage door with opener. In-floor heat, two LED lights, 100-amp electrical service, a trench drain, and a fire suppression system are installed. The bathroom with shower is roughed in, and the structure is prepared for a future mezzanine.
The property at 721 Industrial Boulevard in Watertown, Minnesota, is zoned Business/Commercial. Exterior features include LP siding, an asphalt-shingled roof, concrete aprons, and an asphalt lot. Association services cover lawn care, snow removal, refuse, and security. Entrance gates, security fencing, a wash bay, a dump station, and a lounge are planned for the future.
The property at 721 Industrial Boulevard in Watertown, Minnesota, is zoned Business/Commercial. Exterior features include LP siding, an asphalt-shingled roof, concrete aprons, and an asphalt lot. Association services cover lawn care, snow removal, refuse, and security. Entrance gates, security fencing, a wash bay, a dump station, and a lounge are planned for the future.
Key Highlights
- 1,250 SF unit measuring 25' x 50'
- 16' W x 14' H insulated garage door with opener
- In‑floor heat, 100‑amp electrical service, and floor trench drain
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$16,950
Cap Rate
6.88%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$339,000
$339.0K
Cap Rate 7%
$242,143
$242.1K
Cap Rate 9%
$188,333
$188.3K
Market Conditions
NOI Build-Up for 1,250 SF
Gross rent
$27.5K $21.96/SF
− Vacancy
−$1.4K −$1.10/SF
EGI
$26.1K $20.86/SF
− OpEx
−$9.1K −$7.30/SF
NOI
$17.0K $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%
$339,000
Cap Rate 7%
$242,143
Cap Rate 9%
$188,333
Alternative Uses
Best Use
Flex RnD
$242.1K
$211.9K – $282.5K
NOI $16,950 @ 7.0% cap · market cap 6.88%
Second Best
Industrial
$194.0K
$169.8K – $226.3K
NOI $13,580 @ 7.0% cap · market cap 5.51%
Theoretical Best
Office A
$298.2K
$261.0K – $347.9K
NOI $20,876 @ 7.0% cap · market cap 8.48%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Location Intelligence
Trade Area within ½ mile
9
Businesses Nearby
Well-served
Demand for This Use
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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 - Commercial unit features in-floor heating, a powered overhead door, and rough-ins for a bathroom with shower.
Where is this flex space located?
The property is located at 721 Industrial Boulevard #D2 Watertown, MN.
What is the asking price?
The asking price for this property is $246,250.
What are key features of this property?
This property features: 1,250 SF unit measuring 25' x 50'; 16' W x 14' H insulated garage door with opener; In‑floor heat, 100‑amp electrical service, and floor trench drain
