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Property profile & analytics
FOR SALE
Industrial properties
721 Industrial Blvd, Watertown, MN 55388
Entity Owned
Free & Clear
Property ID
US46-3222571
For Sale
1 / 5
$197,500
721 Industrial Blvd, Watertown, MN 55388
View Listing →
Property profile
Verified
Property type
Industrial properties
Use group
INDUSTRIAL (GENERAL)
Lot
3.81 ac (165,964 SF)
APN
85-6000010
UPID
US46-3222571
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
by Request
Owner & transaction history
Backwater Shores LLC
Backwater Shores LLC
since 2026
Last sale
$173,952
7 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Cap rate
Implied · in-place · derived from last sale + estimated NOI
Implied Cap rate
#1
Implied · in-place · NOI ÷ last sale
In-place · derived from last sale + estimated NOI
Cap rate, NOI & submarket benchmark
Implied cap rate vs Watertown submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Watertown submarket · NOI estimate · typical band, median & reading
Refine your cap rate
8-question underwriting flow
1.
Property current status — Going-In vs Stabilized
2.
Price for denominator — asking / offer / market
3.
Leasing status & lease structure (NNN / Gross)
4.
Tenant risk profile & vacancy assumption
5.
Upload T12 / rent roll / OM (optional)
Refine in 60 seconds, get exact suggested price
T12 upload · Submarket benchmarks · Sensitivity grid
Suggested price · 3 cap rate anchors
Income approach @ 5% / 7% / 9% — aggressive / typical / conservative
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · Implied $/SF per anchor · Sensitivity grid
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · implied $/SF · sensitivity
Value
AI, CAP & Alternative Use estimations · Realmo proprietary blendValue Estimations
Based on Realmo’s proprietary methodology
AI Approach
CAP Approach
Comparable Approach
Alternative Use
Get a detailed, property-specific estimation — fast and free
Price per SF
Sale + rent benchmarks
Subject property
—
Submarket sale & rent benchmarks
Median sale $/SF · Asking & closed rent · Submarket vacancy
Submarket sale & rent benchmarks
Median sale $/SF · asking & closed rent · submarket vacancy
Property tax & assessments
Tax year 2024Property tax & assessments
Tax year 2024
Tax billed
$158
Tax year 2024
Applied tax rate
111.0000
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Recent comparable sales
Sale price & $/SF · sale date & distance · adjustments
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Industrial properties
Use group
INDUSTRIAL (GENERAL)
Status
For Sale
Lot
3.81 ac (165,964 SF)
APN
85-6000010
UPID
US46-3222571
Jurisdiction
CARVER
Zoning & alternative use
Zoning · permitted uses
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Building & site characteristics
From public records
Lot
3.81 ac
Current owner
From public records · entity-resolved
Backwater Shores LLC
Entity
Free & Clear · 0 yrs held
Mailing address
2744 105TH ST SW, MONTROSE, MN 55363-8624
Ownership since
2026
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
29 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jan 2, 2026
$309,900
Backwater Shores LLC
Future Funds Space LLC
Warranty Deed
—
Dec 26, 2025
—
Callie E Goehring Trust
Adam Goehring
Warranty Deed
—
Jun 20, 2025
$242,000
Adam Goehring
Workshops Of Watertown LLC
Warranty Deed
—
Apr 15, 2025
$163,500
Walter Nowocin
Workshops Of Watertown LLC
Warranty Deed
—
Apr 3, 2025
$167,924
Justin B Houston
Workshops Of Watertown LLC
Warranty Deed
$134,500 · South Valley Bank & Trust
Mar 6, 2025
$163,500
Craig Lofstuen
Workshops Of Watertown LLC
Warranty Deed
$130,800 · Security Bank & Trust
Mar 6, 2025
—
Jack C Schwarz
—
Deed
related
$292,000 · South Story Bank & Trust
Dec 16, 2024
$167,924
David Lindberg
Workshope Of Watertown LLC
Warranty Deed
—
Oct 25, 2024
$163,500
Carol Pomeroy
Workshops Of Watertown LLC
Warranty Deed
—
Aug 29, 2024
$246,252
Mark Mielke
Workshops Of Watertown LLC
Warranty Deed
$258,000 · South Story Bank & Trust
Aug 21, 2024
$173,952
Charles A Mcclure
Workshops Of Watertown LLC
Warranty Deed
—
Aug 16, 2024
$150,676
George A Ritten
Workshops Of Watertown LLC
Warranty Deed
—
Jun 28, 2024
$246,252
Jamie K Hoffman
Workshops Of Watertown LLC
Warranty Deed
—
Jun 28, 2024
$246,624
Richard C Schwalbe
Workshops Of Watertown LLC
Warranty Deed
—
May 2, 2024
$173,952
Thomas Burns LLC
Workshops Of Watertown LLC
Warranty Deed
$200,000 · South Story Bank & Trust
May 2, 2024
$150,676
Anne Marie Belzer
Workshops Of Watertown LLC
Warranty Deed
—
Aug 17, 2023
$178,952
Future Funds Space LLC
Workshops Of Watertown LLC
Warranty Deed
$212,000 · South Story Bank & Trust
Jul 26, 2023
—
Workshops Of Watertown LLC
—
Deed
related
$1,650,000 · South Story Bank & Trust
Jun 16, 2023
$167,924
Morena LLC
Workshops Of Watertown LLC
Warranty Deed
—
Mar 8, 2023
$291,300
Joseph M Piche And Darcy S Piche Re
Workshops Of Watertown LLC
Warranty Deed
—
Dec 28, 2022
$173,485
Michael Simon
Workshops Of Waterton LLC
Warranty Deed
$181,300 · South Story Bank & Trust
Dec 14, 2022
$160,291
John Thomas Emery
Workshops Of Watertown LLC
Warranty Deed
$231,200 · South Story Bank & Trust
Dec 9, 2022
$316,100
Dynasty Asset Management LLC
Workshops Of Watertown LLC
Warranty Deed
—
Nov 18, 2022
$162,324
N E A Realty LLC
Workshops Of Watertown LLC
Warranty Deed
$195,000 · South Story Bank & Trust
Nov 9, 2022
$172,800
Matthew Skapyak
Workshops Of Watertown LLC
Warranty Deed
$234,600 · South Story Bank & Trust
Nov 8, 2022
$153,952
Shara Eggen
Workshops Of Watertown LLC
Warranty Deed
—
Sep 20, 2022
$125,000
Wcy Real Estate LLC
Workshops Of Watertown LLC
Warranty Deed
$136,000 · South Story Bank & Trust
Jun 10, 2022
$149,876
Randy Stodola
Workshops Of Watertown LLC
Warranty Deed
$148,620 · South Story Bank & Trust
Jun 7, 2022
$157,776
Fritzke Trucking INC
Workshops Of Watertown LLC
Warranty Deed
—
Coming soon
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Coming soon
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.
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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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