520 2nd Street, Excelsior, MN 55331

$3,200,000
Property Type: Commercial Lot Size (sq. ft.): 21,344 Status: Active
Current Price: $3,200,000 List Date: 1/10/2026 Last Modified: 3/01/2026

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. **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 Present
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
0.49
Lot Dimensions
245 x 88

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
Supra
Yes

Miscellaneous Information

Homestead
No

Ownership

Fractional Ownership
No

Parking Characteristics

Garage Dimensions
168
Garage Door Height
7
Garage Door Width
9
Parking Lot
Yes
Garage Door Opener
Yes
Heated Garage
Yes
Paved Lot
Yes
Storage
Yes

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

Office/Member Info

Association
MAAR

Location, Tax and Other Information

Legal Description
LOT 002 GALPINS ADDN THAT PART OF THE NELY 147 28/100 FT LYING NWLY OF THE SELY 115 FT THEREOF
Listing City
Excelsior
Map Page
117
Municipality
Excelsior
School District
Minnetonka
School District Phone
952-401-5000
Zip Plus 4
1852
Property ID Number
3411723110020
Tax Year
2025
Tax Amount
26320
In Foreclosure?
No
Potential Short Sale?
No
Lender Owned?
No

Directions & Remarks

Public Remarks
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. **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!
Directions
Coming from the East (Minnetonka) on Hwy 7, take the Excelsior exit. Take left to building

Accessible

Doors 36"+
Yes
Fully Wheelchair
Yes
Grab Bars In Bathroom
Yes

Air Conditioning

Central Air
Yes

Amenities Unit

Cable
Yes
City View
Yes
Kitchen Window
Yes

Appliances

Cooktop
Yes
Dishwasher
Yes
Dryer
Yes
Range
Yes
Refrigerator
Yes
Washer
Yes

Assumable Loan

Not Assumable
Yes

Construction Status

Previously Owned
Yes

Exterior

Brick Veneer
Yes
Brick/Stone
Yes
Vinyl
Yes

Fencing

Chain Link
Yes

Flooring

Carpet
Yes
Tile
Yes

Foundation

Concrete Block
Yes

Fuel

Natural Gas
Yes

Heating

Baseboard
Yes
Boiler
Yes
Radiator
Yes

Internet Options

Cable
Yes

Rental License Type

Standard
Yes

Sewer

City Sewer/Connected
Yes

Stories

Three Or More
Yes

Water

City Water/Connected
Yes

Waterfront View

Bay
Yes
Lake
Yes

No. of Ranges

One
Yes

No. of Refrigerators

One
Yes

On Site Utilities

Electric Common
Yes

CMU Style

Apartments and Retail
Yes
Attached Building
Yes
Business Opportunity
Yes
Common Wall
Yes
Funeral Home
Yes
High Rise
Yes
Mixed Use
Yes
Office
Yes

Current Use

Business Service
Yes

Loan Terms

Cash
Yes
Conventional
Yes

Potential Use

Diversified
Yes
Income
Yes
Industrial
Yes
Lounge/Bar
Yes
Motel/Hotel
Yes
Office
Yes
Other
Yes
Professional
Yes
Restaurant
Yes
Retail
Yes
Listing Office: Up Front Homes
IDX
Last Updated: March - 01 - 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. ©2024 Regional Multiple Listing Service of Minnesota, Inc All rights reserved.