Garage Condo Flex
D4-721 Industrial Blvd Watertown, MN
D4-721 Industrial Blvd, Watertown, MN, 00000
$246,250
For Sale
$246,250
Garage condo flex unit with insulated door, in-floor heat, 100-amp power, and a floor trench drain.
Property Size1,250 SF
Price / SF$197
Days on Market573
Property Features for D4-721 Industrial Blvd
General Information
- Standard status
- Active
- Size
- 1,250 SF
Listing agency
Edina Realty, Inc.
(952) 334-4857
Listed by
Butcher Real Estate Team
(952) 212-2374
Source
Exprealty
Added: Dec 27, 2024 Updated: Jul 22 at 1:52PM Checked: Jul 22 at 1:52PM
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 garage condo flex unit is sized at 25' by 50' and features sheet rocked walls and a tin ceiling with 16' w x 14' H insulated garage door, including an opener. Interior amenities include in-floor heat, two LED lights, and a rough-in for a future bathroom with shower. The unit is equipped with 100-amp electrical service and a floor trench drain, along with a fire suppression system. It also has structured support for a future mezzanine and includes LP siding, an asphalt shingled roof, and concrete aprons, with an asphalt lot in the condominium setting.
The property is located at the Workshops of Watertown on Industrial Blvd, with association-provided lawn care, snow removal, refuse, and security. The community plan includes future entrance gates and security fencing, as well as a wash bay, dump station, and lounge. The property is in a commercial/multi-use zoning district, and association services help support day-to-day operations.
The condo improvements and utilities are in place for a range of light warehouse or flex uses, with the garage configuration and drain-ready floor supporting practical shop and storage needs.
The property is located at the Workshops of Watertown on Industrial Blvd, with association-provided lawn care, snow removal, refuse, and security. The community plan includes future entrance gates and security fencing, as well as a wash bay, dump station, and lounge. The property is in a commercial/multi-use zoning district, and association services help support day-to-day operations.
The condo improvements and utilities are in place for a range of light warehouse or flex uses, with the garage configuration and drain-ready floor supporting practical shop and storage needs.
Key Highlights
- Garage condo flex unit at the Workshops of Watertown, 1,250 SF (25' x 50')
- Insulated 16' W x 14' H garage door with opener
- In‑floor heat plus 100‑amp electrical service
Local Financial Insights For Flex RnD
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $27.5k | $21.96 |
| − Vacancy | −$1.4k | −$1.10 |
| EGI | $26.1k | $20.86 |
| − OpEx | −$9.1k | −$7.30 |
| NOI | $17.0k | $13.56 |
1,250 SF · lease $21.96/SF/yr · vacancy 5.00% · expense 35.00%
Alternative Uses
Best Use
Flex RnD
$242.1K
$211.9K – $282.5K
NOI $16,950 @ 7.0% cap · market cap 6.88%
Second Best
Warehouse
$235.6K
$206.1K – $274.8K
NOI $16,490 @ 7.0% cap · market cap 6.70%
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 local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Flex space
Similar For Sale Nearby
FAQs
What type of property is this?
Flex space - Garage condo flex unit with insulated door, in-floor heat, 100-amp power, and a floor trench drain.
Where is this flex space located?
The property is located at D4-721 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: Garage condo flex unit at the Workshops of Watertown, 1,250 SF (25' x 50'); Insulated 16' W x 14' H garage door with opener; In‑floor heat plus 100‑amp electrical service
