$3,650,000
Excelsior, MN 55331
MLS# 6718465
Status: Closed
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Property 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.
Details
Maps
Contract Information
Owner is an Agent?: No
Auction?: No
Status: Closed
Off Market Date: 2026-02-26
Current Price: $3,650,000
Closed Date: 2026-02-25
Sales Close Price: 3650000
Contingency: None
ListPrice: 4200000
List Date: 2025-05-09
Office/Member Info
Association: MAAR
General Property Information
Lot Measurement: Acres
Multiple PIDs?: No
Other Parking Spaces: 0
Waterfront Present: No
Year Built: 1889
Yearly/Seasonal: Yearly
Zoning: Business/Commercial
Lot Dimensions: 28x175x240x178
Acres: 0.98
Foundation Size: 5857
Garage Stalls: 0
For Sale or Lease: For Sale
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: 1
Partially Wheelchair: 1
Wheelchair Ramp: 1
Air Conditioning
Central Air: 1
Assessments
Assessment Balance: 0
Tax With Assessments: 63531.34
Building Information
Building Finished SqFt: 23429
Building SqFt: 23429
Construction Status
Previously Owned: 1
Exterior
Brick/Stone: 1
Financing Terms
Other: 1
Foundation
Other: 1
Fuel
Natural Gas: 1
Heating
Forced Air: 1
Lease Details
Land Leased: Not Applicable
Miscellaneous Information
Homestead: No
Ownership
Fractional Ownership: No
Parking Characteristics
Paved Lot: 1
Unassigned: 1
Public Survey Info
Range#: 23
Section#: 34
Township#: 117
Sale Options
Sale Includes: Building, Land
Sewer
City Sewer/Connected: 1
Unit Details
Total Units: 1
Water
City Water/Connected: 1
On Site Utilities
Electric Common: 1
Heating Common: 1
Hot Water Common: 1
CMU Style
Office: 1
Current Use
Commercial: 1
Loan Terms
Cash: 1
Conventional: 1
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
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
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. ©2024 Regional Multiple Listing Service of Minnesota, Inc All rights reserved.