520 2nd Street, Excelsior, MN 55331

$3,200,000

Property Type: Commercial Square Footage: 8,000 Lot Size (sq. ft.): 29,621 Status: Active

Current Price: $3,200,000 List Date: 1/10/2026 Last Modified: 8/27/2026

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
Waterfront YN: 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

Miscellaneous Information

Homestead: No

Ownership

Fractional Ownership: No

Parking Characteristics

Garage Dimensions: 168
Garage Door Height: 7
Garage Door Width: 9

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

Listing Office: Up Front Homes

Last Updated: August - 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. ©2026 Regional Multiple Listing Service of Minnesota, Inc All rights reserved.

520 2nd Street, Excelsior, MN 55331 (MLS# 7006401)