Address
261 School Avenue, Excelsior, MN
Price
$ 4,200,000
Property Attributes
  • ID#6397536
  • TypeCommercial
  • CountyHENNEPIN
  • CityExcelsior
  • AreaExcelsior
  • NeighborhoodExcelsior
  • Zip55331
  • StyleOffice
  • Year Built1889
  • Taxes$ 63466
  • Price$ 4,200,000
  • Bedrooms0
  • Full Bathrooms0
  • Half Bathrooms0
  • Sqr Footage23429
  • Lot Size0.98 Acres
Data Source:
Northstar MLS (NSTAR)
Property Description

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.

Price History
7/18/2023 Listed $420,000

General Features

Sewer City Sewer/Connected
Heating Forced Air
Cooling Central Air
Utilities Electric Common,Heating Common,Hot Water Common
Construction Materials Brick/Stone
Year Built 1889
Property SubType Office
Tax Year 2023
Current Use Commercial
Accessibility Accessible Elevator Installed,Partially Wheelchair,Wheelchair Ramp(s)
County Hennepin
Property Type Commercial Sale
Contingency None
Subdivision Name Excelsior
Directions Hwy 7 to Oak St N to Water St,East to 3rd S. to the corner of School Ave & 3rd
City Excelsior
Buyer Agent Compensation 2.70
High School District Minnetonka
Zoning Description Business/Commercial
Total Units 1
Street Name School
Land Lease Y/N No
Tax Annual Amount 63466
Additional Parcels Y/N No
Standard Status Active
Lender Owned No
Buyer Agent Compensation Type %
PostalCity Excelsior

Interior Features

Basement (Y/N) No
Street Suffix Avenue
Fuel Natural Gas

Exterior Features

Parking Features Paved,Unassigned
Water Source City Water/Connected
Inclusions Building,Land
Lot Size Area 0.98
Building Area Total 23429
Lot Dimensions 28x175x240x178
Lot Size Units Acres
Foundation Area 5857

Amenities

  • Foreclosure
  • Views
  • Short Sale
  • New Construction
  • Adult 55+
  • Lease To Own
  • No HOA Fees
  • Furnished
  • Primary On Main
  • Air Conditioning
  • Seller Finance
  • Green
  • Fixer Upper
  • Horse
  • Golf
  • Fireplace
  • Deck
  • Garage
  • Basement
  • Pool

Property vs Commercial Average in 55331

Price
AVG $4.2M
$4.2M
Taxes
AVG $63,466
$63,466
Visits
AVG 234
233
Data Provided by Inside Real Estate®
Year Built
AVG 1889
1889
Walkscore
AVG 72
72
Data Provided by Walkscore® not using MLS data

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