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    261 School Ave Excelsior, MN 55331

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    For Sale
    $4,200,000

    Rare renovated 1899 building in Excelsior's commercial district.

    Property size:
    23,429 SF
    Lot size:
    0.98 Acres

    Property Features for 261 School Ave

    General Information

    Size
    23,429 SF
    Lot size
    0.98 Acres

    Source: Coldwell Banker Realty Agent Bill Wolfson

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    Overview

    Historical Office Building in Excelsior

    Located in the heart of Excelsior, 261 School Avenue presents a historical opportunity in the commercial district, a few blocks from Lake Minnetonka. This classic 1899 revival style building was fully renovated and updated for multi-tenant office use in 1997. The property features four levels of office suites, common areas and lobby, ADA restrooms, and an elevator, making it handicap accessible. Zoned CC-Cottage Commercial District, the property allows for a mixture of commercial service, retail, entertainment, civic, institutional, and related public facilities. The building has a total size of 23429 square feet. This well-maintained property represents a quality investment opportunity with tenants, reasonable lease rates, and space for an owner user if desired.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Office buildings

    Suggested Use

    Law Firm Realty agency Restaurant Spa & Massage Dental Office Hair Salon Nail Salon Building Supply Gym & Fitness Auto Repair Shop

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Excelsior
    County
    Hennepin
    State
    Minnesota
    Longitude
    -93.5648199
    Latitude
    44.9015486

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    FAQs

    What type of property is this?
    Office building - Rare renovated 1899 building in Excelsior's commercial district.
    Where is this office building located?
    The property is located at 261 School Ave Excelsior, MN.
    What is the asking price?
    The asking price for this property is $4,200,000.
    What are key features of this property?
    This property features: - Prime location in the heart of Excelsior's commercial district, near Lake Minnetonka.; - Completely renovated historical 1899 revival style building.; - Multi-tenant office building with established tenants and reasonable lease rates.
    (952) 334-4554
    Request Owner's contact information
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    261 School Ave Excelsior, MN 55331
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