New Flex Space Garage
For Sale
$210,050
E9-721 Industrial Blvd, Watertown, MN
Commercially zoned unit with in-floor heat, an insulated overhead door, and dedicated electrical service.
Property Size1,280 SF
Price / SF$164.10
Days on Market499
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Property Features for E9-721 Industrial Blvd
General Information
Standard status
Active
Size
1,280 SF
Warehouse & Industrial
Drive-In Doors
1
Power
100 amps
Sprinkler System
Yes
Additional Details
Fenced Yard
Yes
Taxes and HOA fees
Annual Taxes
$7,370
Amenities
lawn care
snow removal
garbage service
security fencing/entrance gates
Listing Agency:
Edina Realty, Inc.
(763) 682-3434
Listed By:
Butcher Real Estate Team
(952) 212-2374
Source:
Exprealty
Added: Jun 4, 2025
Changed: Oct 14
Last Checked: Oct 15 at 3:34AM
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.
A new garage unit is planned for Phase II of the Workshops of Watertown at E9-721 Industrial Blvd in Watertown, MN. The 1280 SF unit measures 30'x40' and is designed with sheet-rocked walls, a tin ceiling, in-floor heat, a concrete floor structured for a future mezzanine, and an asphalt-shingled roof. Building systems include a 16'w x 14' h insulated garage door with opener, 100 amp electrical service, two LED lights, a floor trench drain, and a fire suppression system.
The unit also includes a rough-in for a bathroom with shower, LP siding, concrete aprons, and an asphalt lot. Association services cover lawn care, snow removal, garbage service, and security fencing with entrance gates. A future wash bay and lounge are planned for the development. The property is commercially zoned, and businesses are welcome.
The unit also includes a rough-in for a bathroom with shower, LP siding, concrete aprons, and an asphalt lot. Association services cover lawn care, snow removal, garbage service, and security fencing with entrance gates. A future wash bay and lounge are planned for the development. The property is commercially zoned, and businesses are welcome.
Key Highlights
- 1280 SF garage unit measuring 30'x40'
- 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
$17,357
Cap Rate
8.26%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$347,140
$347.1K
Cap Rate 7%
$247,957
$248.0K
Cap Rate 9%
$192,856
$192.9K
Market Conditions
NOI Build-Up for 1,280 SF
Gross rent
$28.1K $21.96/SF
− Vacancy
−$1.4K −$1.10/SF
EGI
$26.7K $20.86/SF
− OpEx
−$9.3K −$7.30/SF
NOI
$17.4K $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%
$347,140
Cap Rate 7%
$247,957
Cap Rate 9%
$192,856
Alternative Uses
Best Use
Flex RnD
$248.0K
$217.0K – $289.3K
NOI $17,357 @ 7.0% cap · market cap 8.26%
Second Best
Industrial
$198.7K
$173.8K – $231.8K
NOI $13,906 @ 7.0% cap · market cap 6.62%
Theoretical Best
Office A
$305.4K
$267.2K – $356.3K
NOI $21,377 @ 7.0% cap · market cap 10.18%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Current Use
Lease Details
1
Drive-in doors
Yes
Sprinkler system
Yes
Fenced yard
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 - Commercially zoned unit with in-floor heat, an insulated overhead door, and dedicated electrical service.
Where is this flex space located?
The property is located at E9-721 Industrial Blvd Watertown, MN.
What is the asking price?
The asking price for this property is $210,050.
What are key features of this property?
This property features: 1280 SF garage unit measuring 30'x40'; 16'w x 14' h insulated garage door with opener; In‑floor heat and 100 amp electrical service
