, Excelsior, MN 55331 (MLS# 6718465)

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

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.

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

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

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
IDX
Listing Office: Coldwell Banker Realty
Last Updated: February - 26 - 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.
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