261 School Avenue, Excelsior, MN 55331 (MLS# 6718465)

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.

General Property Information

Lot Measurement: Acres
Multiple PIDs?: No
Waterfront Present: 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

House Number: 261
Street Name: School
Street Suffix: Avenue
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