Flex Space Garage
For Sale
$246,250
D2-721 Industrial Blvd, Watertown, MN
Commercial-use unit with insulated garage door, in-floor heat, and bathroom rough-in.
Property Size1,250 SF
Price / SF$197
Days on Market657
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Property Features for D2-721 Industrial Blvd
General Information
Standard status
Active
Size
1,250 SF
Zoning
commercial/multi use
Warehouse & Industrial
Power
100 amps
Sprinkler System
Yes
Taxes and HOA fees
Annual Taxes
$504
Amenities
lawn care
snow removal
refuse
security
Listing Agency:
Edina Realty, Inc.
(763) 682-3434
Listed By:
Butcher Real Estate Team
(952) 212-2374
Source:
Exprealty
Added: Dec 27, 2024
Changed: Oct 14
Last Checked: Oct 15 at 3:11AM
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.
This flex space unit provides 1,250 square feet within a 25' x 50' footprint. The buildout includes sheetrocked walls, a tin ceiling, an insulated 16' W x 14' H garage door with opener, LED lighting, in-floor heat, and 100-amp electrical service. A floor trench drain, fire suppression system, and bathroom rough-in with shower are also included. The structure is designed for a future mezzanine, with LP siding, an asphalt-shingled roof, concrete aprons, and an asphalt lot.
Located at D2-721 Industrial Blvd in Watertown, MN, the property is zoned commercial/multi use and accommodates businesses. Association services include lawn care, snow removal, refuse service, and security. Future site plans include entrance gates, security fencing, a wash bay, dump station, and lounge.
Located at D2-721 Industrial Blvd in Watertown, MN, the property is zoned commercial/multi use and accommodates businesses. Association services include lawn care, snow removal, refuse service, and security. Future site plans include entrance gates, security fencing, a wash bay, dump station, and lounge.
Key Highlights
- 1,250 SF flex space unit with a 25' x 50' footprint
- 16' W x 14' H insulated garage door with opener
- In‑floor heat and 100‑amp electrical service
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.
How Realmo checks its estimates
Property Analytics
Current Use
Lease Details
Yes
Sprinkler system
Location Intelligence
Trade Area within ½ mile
300
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Market
Vacancy Rate% for Industrial in Midwest region
Frequently Asked Questions
What type of property is this?
Flex space - Commercial-use unit with insulated garage door, in-floor heat, and bathroom rough-in.
Where is this flex space located?
The property is located at D2-721 Industrial Blvd 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 flex space unit with a 25' x 50' footprint; 16' W x 14' H insulated garage door with opener; In‑floor heat and 100‑amp electrical service
