Excelsior, MN 55331
$3,650,000
Property Type:
Commercial
Square Footage:
23,429
Lot Size (sq. ft.):
42,689
Status:
Closed
Current Price:
$3,650,000
List Date:
5/09/2025
Last Modified:
2/26/2026
Overview
Description
Listing Details MLS# 6718465
General Property Information
- Lot Measurement
- Acres
- Multiple PIDs?
- No
- Waterfront YN
- No
- Year Built
- 1889
- Yearly/Seasonal
- Yearly
- Zoning
- Business/Commercial
- Foundation Size
- 5857
- For Sale or Lease
- For Sale
- Acres
- 0.98
- Lot Dimensions
- 28x175x240x178
- Other Parking Spaces
- 0
- Garage Stalls
- 0
Property Features
Accessible:
Accessible Elevator Installed; Partially Wheelchair; Wheelchair Ramp
Air Conditioning:
Central Air
CMU Style:
Office
Construction Status:
Previously Owned
Current Use:
Commercial
Exterior:
Brick/Stone
Financing Terms:
Other
Foundation:
Other
Fuel:
Natural Gas
Heating:
Forced Air
Loan Terms:
Cash; Conventional
On Site Utilities:
Electric Common; Heating Common; Hot Water Common
Parking Characteristics:
Paved Lot; Unassigned
Sewer:
City Sewer/Connected
Water:
City Water/Connected
Contract Information
- Off Market Date
- 2026-02-26
- Closed Date
- 2026-02-25
- Sales Close Price
- 3650000
- Contingency
- None
- ListPrice
- 4200000
- Owner is an Agent?
- No
- Auction?
- No
Location Tax and Other Information
- Postal City
- Excelsior
- County
- Hennepin
- State
- MN
- Zip Code
- 55331
- Complex/Dev/Subdivision
- Excelsior
Assessments
- Tax With Assessments
- 63531.34
- Assessment Balance
- 0
Building Information
- Building Finished SqFt
- 23429
- Building SqFt
- 23429
More Information
Lease Details
- Land Leased
- Not Applicable
Miscellaneous Information
- Homestead
- No
Ownership
- Fractional Ownership
- No
Public Survey Info
- Range#
- 23
- Section#
- 34
- Township#
- 117
Sale Options
- Sale Includes
- Building, Land
Unit Details
- Total Units
- Yes
Office/Member Info
- Association
- MAAR
Location, Tax and Other Information
- Legal Description
- LOT 037 EXCELSIOR
- Listing City
- Excelsior
- Map Page
- 117
- Municipality
- Excelsior
- School District
- Minnetonka
- School District Phone
- 952-401-5000
- Zip Plus 4
- 1744
- Property ID Number
- 3411723140051
- Tax Year
- 2025
- Tax Amount
- 63531.34
- In Foreclosure?
- No
- Potential Short Sale?
- No
- Lender Owned?
- No
Directions & Remarks
- Public Remarks
- 261 School Avenue is a rare historical opportunity in the heart of Excelsior, located in the commercial district and a few blocks from Lake Minnetonka. This classic 1899 revival style building has undergone a complete renovation and updated to its current multi-tenant office use in 1997. The building features four levels of office suites, common areas; lobby, ADA restrooms and an elevator making this property handicap accessible. Zoned CC-Cottage Commercial District, which is a mixture of commercial service, retail, entertainment, civic, institutional, and related public facilities. This well-maintained property represents a quality investment opportunity with great tenants, reasonable lease rates, and space for an owner user if desired.
- Directions
- Water St. S. on 3rd to School Ave.
Accessible
- Accessible Elevator Installed
- Yes
- Partially Wheelchair
- Yes
- Wheelchair Ramp
- Yes
Air Conditioning
- Central Air
- Yes
Construction Status
- Previously Owned
- Yes
Exterior
- Brick/Stone
- Yes
Financing Terms
- Other
- Yes
Foundation
- Other
- Yes
Fuel
- Natural Gas
- Yes
Heating
- Forced Air
- Yes
Parking Characteristics
- Paved Lot
- Yes
- Unassigned
- Yes
Sewer
- City Sewer/Connected
- Yes
Water
- City Water/Connected
- Yes
On Site Utilities
- Electric Common
- Yes
- Heating Common
- Yes
- Hot Water Common
- Yes
CMU Style
- Office
- Yes
Current Use
- Commercial
- Yes
Loan Terms
- Cash
- Yes
- Conventional
- Yes
Listing Office:
Coldwell Banker Realty
Last Updated: February - 26 - 2026
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