Flex Garage Unit with In-Floor
For Sale
$183,790
721 Industrial Boulevard #E13, Watertown, MN 55388
Commercial zoning and association-managed exterior services support a range of business operations.
Property Size1,120 SF
Price / SF$164.17
Days on Market9
Property Features for 721 Industrial Boulevard #E13
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
Units
1
Listing Agency:
Edina Realty, Inc.
Listed By:
Butcher Real Estate Team
(952) 212-2374
Source:
Getyoumoved
Added: Oct 22
Changed: Oct 25
Last Checked: Oct 29 at 11:17PM
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.
Under development in Phase II of the Workshops of Watertown, this flex unit will offer 1,119.5 square feet of space with a 26.75-by-40-foot footprint. Planned features include sheetrocked walls, a tin ceiling, a 16-foot-wide by 14-foot-high insulated garage door with opener, two LED lights, in-floor heat, 100-amp electrical service, and a floor trench drain. A fire suppression system and bathroom rough-in with shower are also planned. The concrete floor is structured to accommodate a future mezzanine.
Exterior construction includes LP siding, a shingled roof, concrete aprons, and an asphalt lot. The association handles lawn care, snow removal, and garbage service, and provides security fencing with gated entry. A wash bay and lounge are planned as future additions to the project.
Exterior construction includes LP siding, a shingled roof, concrete aprons, and an asphalt lot. The association handles lawn care, snow removal, and garbage service, and provides security fencing with gated entry. A wash bay and lounge are planned as future additions to the project.
Key Highlights
- 1,119.5‑square‑foot unit with a 26.75‑by‑40‑foot footprint
- 16‑foot‑wide by 14‑foot‑high 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
$15,181
Cap Rate
8.26%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$303,620
$303.6K
Cap Rate 7%
$216,871
$216.9K
Cap Rate 9%
$168,678
$168.7K
Market Conditions
NOI Build-Up for 1,120 SF
Gross rent
$24.6K $21.96/SF
− Vacancy
−$1.2K −$1.10/SF
EGI
$23.4K $20.86/SF
− OpEx
−$8.2K −$7.30/SF
NOI
$15.2K $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%
$303,620
Cap Rate 7%
$216,871
Cap Rate 9%
$168,678
Alternative Uses
Best Use
Flex RnD
$216.9K
$189.8K – $253.0K
NOI $15,181 @ 7.0% cap · market cap 8.26%
Second Best
Industrial
$173.7K
$152.0K – $202.7K
NOI $12,162 @ 7.0% cap · market cap 6.62%
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
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
Market
Vacancy Rate% for Industrial in Midwest region
Frequently Asked Questions
What type of property is this?
Flex space - Commercial zoning and association-managed exterior services support a range of business operations.
Where is this flex space located?
The property is located at 721 Industrial Boulevard #E13 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 with a 26.75‑by‑40‑foot footprint; 16‑foot‑wide by 14‑foot‑high insulated garage door with opener; In‑floor heat, 100‑amp electrical service, and floor trench drain
