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261 School Avenue Excelsior, MN $ 4,200,000
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$ 4,200,000 Get more info
261 School Avenue
$ 4,200,000
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261 School Avenue

Excelsior, MN, 55331
$ 4,200,000
Baths0.0 Sq 23,429

Monthly Estimate*

$ 27,915

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Studio

Commercial Property for sale in Excelsior, MN

for $4,200,000. This 23,429 square foot building was built in 1889 on a lot size of 0.98.

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.

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Commercial Active

Price

$ 4,200,000

Bedrooms

Studio

Property Type

Commercial

Taxes

$ 63,466

Style

Office

Lot Size

0.98

Year Built

1889

Town/City

Excelsior

County/Region

Hennepin

MLS | Web ID

6397536
Features
General
Sewer City Sewer/Connected
Heating Forced Air
Cooling Central Air
Utilities Electric Common Heating Common Hot Water Common
Garage Spaces 0
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
NumberOfUnitsTotal 1
Lot Size Units Acres
Street Name School
Land Lease Y/N N
Tax Annual Amount 63466
Additional Parcels Y/N N
Standard Status Active
Lender Owned No
Buyer Agent Compensation Type %
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Exterior
Parking Features Paved Unassigned
Water Source City Water/Connected
Inclusions Building Land
Lot Size Area 0.98
Building Area Total 23429
Lot Dimensions 28x175x240x178
Foundation Area 5857
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Interior
Basement (Y/N) N
Street Suffix Avenue
Fuel Natural Gas
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Internal Only
Street Number 1 261
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* Excluded Features
List By
Coldwell Banker Realty

Broker

billwolfsoncommercial@cbburnet.com

Email

Affordability Calculator

$33,203
Per Month
84%
16%
0%
Monthly Principal & Interest
$27,915
Monthly Property Taxes
$5,289
Monthly Home Insurance
--
Default based on a 30-year fixed rate of 6.99% with 20% down. The estimated payment is offered for convenience and is not an offer of credit. Due to market fluctuations, interest rates are subject to change at any time and without notice. Your individual rate may vary. Rates may differ for FHA, VA or jumbo loans.
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Nearby
708531 Elementary School
708355 Middle School
Unknown High School High School
See complete school information
Pricing History
DatePricePrice ChangeDescription
7/18/2023$420,000 Listed Price

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261 School Avenue, Excelsior, MN, 55331 is a Commercial Property for sale at $4,200,000 with 23,429 sqft and a lot size of 0.98. 261 School Avenue is a studio with 0.0 baths and was built in 1889. The property's zip code is 55331 which is in Excelsior, MN

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