$4,200,000
Excelsior, MN 55331
MLS# 6397536
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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
None
Allow Auto Valuation: No
Allow Consumer Comment: No
MLSID: RMLS
Contract Information
Status: Active
Current Price: $4,200,000
Original List Price: 4200000
Contingency: None
ListPrice: 4200000
List Date: 2023-07-18
Owner is an Agent?: No
Auction?: No
Office/Member Info
Association: MAAR
General Property Information
Lot Measurement: Acres
Multiple PIDs?: 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
Assessment Pending: No
Location, Tax and Other Information
Legal Description: LOT 037 EXCELSIOR
Map Page: 117
Municipality: Excelsior
Rental License?: No
School District Phone: 952-401-5000
Map Coordinate Source: King's Street Atlas
House Number: 261
Street Name: School
Street Suffix: Avenue
Postal City: Excelsior
County: Hennepin
State: MN
Zip Code: 55331
Zip Plus 4: 1744
Property ID Number: 3411723140051
Complex/Dev/Subdivision: Excelsior
Tax Year: 2023
Tax Amount: 63466
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: Hwy 7 to Oak St N to Water St, East to 3rd S. to the corner of School Ave & 3rd
Assessments
Tax With Assessments: 63465.7
Building Information
Building Finished SqFt: 23429
Building SqFt: 23429
Lease Details
Land Leased: Not Applicable
Miscellaneous Information
FIPS Code: 27053
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: 1
Property Features
Accessible: Accessible Elevator Installed; Partially Wheelchair; Wheelchair Ramp
Air Conditioning: Central
CMU Style: Office
Construction Status: Previously Owned
Current Use: Commercial
Exterior: Brick/Stone
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: March - 20 - 2024
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