Find Your Dream Home: Search 10,000+ Homes for Sale

520 2nd Street, Excelsior, MN 55331

$3,200,000

Property Type: Commercial Lot Size (sq. ft.): 29,621 Status: Active

Current Price: $3,200,000 List Date: 1/10/2026 Last Modified: 5/27/2026

Overview

Description

Here it is! The Prime Location you’ve been waiting for. Located in the heart of Excelsior—one of Lake Minnetonka’s most coveted destinations and often referred to as the “Malibu of the Midwest”—520 2nd Street presents a truly rare, mixed-use zoned, once-in-a-generation opportunity that combines 8000 sq ft between the well-established commercial building owned by Huber Funeral Homes with a spacious, single-family residence w/rental license, if desired. Nearly 3/4 acre. **When you arrive in Excelsior, the significance of this location is immediately clear: Maynard’s and Lake Minnetonka are to your right and 520 2nd Street is straight ahead. Few properties can claim this level of visibility, prominence, and daily exposure. This is THE location! **The commercial space features two expansive, separate and well-defined levels (main and upper), providing outstanding flexibility for a wide range of business models, professional services, boutiques, showrooms or 100's of other c ... (Read more) Here it is! The Prime Location you’ve been waiting for. Located in the heart of Excelsior—one of Lake Minnetonka’s most coveted destinations and often referred to as the “Malibu of the Midwest”—520 2nd Street presents a truly rare, mixed-use zoned, once-in-a-generation opportunity that combines 8000 sq ft between the well-established commercial building owned by Huber Funeral Homes with a spacious, single-family residence w/rental license, if desired. Nearly 3/4 acre. **When you arrive in Excelsior, the significance of this location is immediately clear: Maynard’s and Lake Minnetonka are to your right and 520 2nd Street is straight ahead. Few properties can claim this level of visibility, prominence, and daily exposure. This is THE location! **The commercial space features two expansive, separate and well-defined levels (main and upper), providing outstanding flexibility for a wide range of business models, professional services, boutiques, showrooms or 100's of other creative uses. **Positioned in one of Excelsior’s most active and walk-able areas, the property delivers exceptional business brand presence while capturing the prestige and lifestyle appeal of Excelsior Bay and Lake Minnetonka. **This is a fantastic opportunity for owner-users, investors, developers, and business visionaries who desire a premier presence in a community known for its amazing lake lifestyle, dining experiences like Vagabondo, Mirabelle, Coalition, Maynard's, 318 plus numerous shops on Water Street and surrounding streets, along with a long-term business value, who are seeking an exceptional, highly-coveted Lake Minnetonka location. **For developers and investors, the property’s configuration, location, and prominent visibility, un-lock a variety of high-value possibilities—whether as a refined live/work estate, a signature business destination, or a strategic redevelopment. **The attached 4-story home boasts (4) bedrooms with a master bedroom and en-suite, (4) bathrooms, kitchen, dining room and a great room with vaulted ceilings designed for everyday living, as well as, entertaining. **More home highlights include a large private backyard and a three-car attached garage, creating an exceptional live-work lifestyle in an unbeatable Excelsior location. **Don’t wait on this one!

Listing Details MLS# 7006401

General Property Information

Lot Measurement: Acres
Multiple PIDs?: Yes
Other Parking Spaces: 25
Owner Occupied: No
Year Built: 1900
Yearly/Seasonal: Yearly
Zoning: Business/Commercial, Residential-Single Family
Foundation Size: 7043
Garage Stalls: 3
Power Company: Xcel Energy
For Sale or Lease: For Sale
Acres: 0.68
Lot Dimensions: 392 x 143
Assessment Pending: No

Property Features

Accessible: Doors 36"+; Fully Wheelchair; Grab Bars In Bathroom Air Conditioning: Central Air Amenities Unit: Cable; City View; Kitchen Window Appliances: Cooktop; Dishwasher; Dryer; Range; Refrigerator; Washer Assumable Loan: Not Assumable CMU Style: Apartments and Retail; Attached Building; Business Opportunity; Common Wall; Funeral Home; High Rise; Mixed Use; Office Construction Status: Previously Owned Current Use: Business Service Exterior: Brick Veneer; Brick/Stone; Vinyl Fencing: Chain Link Flooring: Carpet; Tile Foundation: Concrete Block Fuel: Natural Gas Heating: Baseboard; Boiler; Radiator Internet Options: Cable Loan Terms: Cash; Conventional Lock Box Type: Supra On Site Utilities: Electric Common Parking Characteristics: Parking Lot; Garage Door Opener; Heated Garage; Paved Lot; Storage Potential Use: Diversified; Income; Industrial; Lounge/Bar; Motel/Hotel; Office; Other; Professional; Restaurant; Retail Rental License Type: Standard Sewer: City Sewer/Connected Stories: Three Or More Water: City Water/Connected Waterfront View: Bay; Lake

Contract Information

Contingency: None
ListPrice: 3200000
Owner is an Agent?: No
Auction?: No

Location Tax and Other Information

House Number: 520
Street Name: 2nd
Street Suffix: Street
Postal City: Excelsior
County: Hennepin
State: MN
Zip Code: 55331
Complex/Dev/Subdivision: Galpins Add

Additional Parcels Information

Property ID #2: 3511723230040

Assessments

Assessment Balance: 747
Tax With Assessments: 27067

More Information

Basement

Foundation Dimensions: 110 x 64

Building Information

Building Finished SqFt: 8000
Building SqFt: 8000

Lease Details

Land Leased: Not Applicable

Lock Box Type

Lock Box Source: MAAR
Supra: Yes

Miscellaneous Information

Homestead: No

Ownership

Fractional Ownership: No

Parking Characteristics

Garage Dimensions: 168
Garage Door Height: 7
Garage Door Width: 9
Parking Lot: Yes
Garage Door Opener: Yes
Heated Garage: Yes
Paved Lot: Yes
Storage: Yes

Public Survey Info

Range#: 23
Section#: 35
Township#: 117

Sale Options

Sale Includes: Building, Business Assets, Business, Fixture/Equipment, Inventory, Land, Other

Unit Details

Total Units: 4

Office/Member Info

Association: MAAR

Location, Tax and Other Information

Legal Description: LOT 002 GALPINS ADDN THAT PART OF THE NELY 147 28/100 FT LYING NWLY OF THE SELY 115 FT THEREOF
Listing City: Excelsior
Map Page: 117
Municipality: Excelsior
School District: Minnetonka
School District Phone: 952-401-5000
Zip Plus 4: 1852
Property ID Number: 3411723110020
Tax Year: 2025
Tax Amount: 26320
In Foreclosure?: No
Potential Short Sale?: No
Lender Owned?: No

Directions & Remarks

Public Remarks: Here it is! The Prime Location you’ve been waiting for. Located in the heart of Excelsior—one of Lake Minnetonka’s most coveted destinations and often referred to as the “Malibu of the Midwest”—520 2nd Street presents a truly rare, mixed-use zoned, once-in-a-generation opportunity that combines 8000 sq ft between the well-established commercial building owned by Huber Funeral Homes with a spacious, single-family residence w/rental license, if desired. Nearly 3/4 acre. **When you arrive in Excelsior, the significance of this location is immediately clear: Maynard’s and Lake Minnetonka are to your right and 520 2nd Street is straight ahead. Few properties can claim this level of visibility, prominence, and daily exposure. This is THE location! **The commercial space features two expansive, separate and well-defined levels (main and upper), providing outstanding flexibility for a wide range of business models, professional services, boutiques, showrooms or 100's of other creative uses. **Positioned in one of Excelsior’s most active and walk-able areas, the property delivers exceptional business brand presence while capturing the prestige and lifestyle appeal of Excelsior Bay and Lake Minnetonka. **This is a fantastic opportunity for owner-users, investors, developers, and business visionaries who desire a premier presence in a community known for its amazing lake lifestyle, dining experiences like Vagabondo, Mirabelle, Coalition, Maynard's, 318 plus numerous shops on Water Street and surrounding streets, along with a long-term business value, who are seeking an exceptional, highly-coveted Lake Minnetonka location. **For developers and investors, the property’s configuration, location, and prominent visibility, un-lock a variety of high-value possibilities—whether as a refined live/work estate, a signature business destination, or a strategic redevelopment. **The attached 4-story home boasts (4) bedrooms with a master bedroom and en-suite, (4) bathrooms, kitchen, dining room and a great room with vaulted ceilings designed for everyday living, as well as, entertaining. **More home highlights include a large private backyard and a three-car attached garage, creating an exceptional live-work lifestyle in an unbeatable Excelsior location. **Don’t wait on this one!
Directions: Coming from the East (Minnetonka) on Hwy 7, take the Excelsior exit. Take left to building

Accessible

Doors 36"+: Yes
Fully Wheelchair: Yes
Grab Bars In Bathroom: Yes

Air Conditioning

Central Air: Yes

Amenities Unit

Cable: Yes
City View: Yes
Kitchen Window: Yes

Appliances

Cooktop: Yes
Dishwasher: Yes
Dryer: Yes
Range: Yes
Refrigerator: Yes
Washer: Yes

Assumable Loan

Not Assumable: Yes

Construction Status

Previously Owned: Yes

Exterior

Brick Veneer: Yes
Brick/Stone: Yes
Vinyl: Yes

Fencing

Chain Link: Yes

Flooring

Carpet: Yes
Tile: Yes

Foundation

Concrete Block: Yes

Fuel

Natural Gas: Yes

Heating

Baseboard: Yes
Boiler: Yes
Radiator: Yes

Internet Options

Cable: Yes

Rental License Type

Standard: Yes

Sewer

City Sewer/Connected: Yes

Stories

Three Or More: Yes

Water

City Water/Connected: Yes

Waterfront View

Bay: Yes
Lake: Yes

No. of Ranges

One: Yes

No. of Refrigerators

One: Yes

On Site Utilities

Electric Common: Yes

CMU Style

Apartments and Retail: Yes
Attached Building: Yes
Business Opportunity: Yes
Common Wall: Yes
Funeral Home: Yes
High Rise: Yes
Mixed Use: Yes
Office: Yes

Current Use

Business Service: Yes

Loan Terms

Cash: Yes
Conventional: Yes

Potential Use

Diversified: Yes
Income: Yes
Industrial: Yes
Lounge/Bar: Yes
Motel/Hotel: Yes
Office: Yes
Other: Yes
Professional: Yes
Restaurant: Yes
Retail: Yes

Listing Office: Up Front Homes

Last Updated: May - 27 - 2026

The data relating to real estate for sale on this web site comes in part from the Broker Reciprocity SM Program of the Regional Multiple Listing Service of Minnesota, Inc. The information provided is deemed reliable but not guaranteed. Properties subject to prior sale, change or withdrawal. ©2024 Regional Multiple Listing Service of Minnesota, Inc All rights reserved.