Restored Mixed-Use Hospitality
For Sale
$1,950,000
371 Water St, Excelsior, MN 55331
Historic lodging property with updated building systems, renovated interiors, and potential for retail, office, studio, or wellness use.
Property SizeContact for details
Days on Market8
Property Features for 371 Water St
General Information
Standard status
Active
Property subtype
Hotel
Additional Details
Business Included
Yes
Building Details
Year Built
1858
Construction
Victorian Italianate
Listing Agency:
SVN Northco Real Estate Services
(651) 492-0563
Listed By:
Edward Rupp · License #40514585
(651) 492-0563
Source:
Svn
Added: Aug 22
Changed: Aug 29
Last Checked: Aug 29 at 6:07PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of SVN Northco Real Estate Services
Investment Insights
Based on property information with market context.
This mixed-use hospitality property occupies a historic Victorian Italianate home originally built in 1858. The building combines lodging operations with potential for a retail or commercial concept, showroom, studio, wellness business, professional office, or similar use. The sale includes the land, improvements, FF&E, and substantially all assets associated with the existing hospitality business.
Capital improvements completed since 2021 include updated electrical and plumbing systems, roofing and boiler components, bathrooms, select windows, exterior finishes, and extensively renovated and refurnished interiors. The property is in downtown Excelsior, within walking distance of shops and restaurants and near Lake Minnetonka marinas, beaches, parks, trails, and community events. Lodging income can be retained while accommodating an additional commercial use.
Capital improvements completed since 2021 include updated electrical and plumbing systems, roofing and boiler components, bathrooms, select windows, exterior finishes, and extensively renovated and refurnished interiors. The property is in downtown Excelsior, within walking distance of shops and restaurants and near Lake Minnetonka marinas, beaches, parks, trails, and community events. Lodging income can be retained while accommodating an additional commercial use.
Key Highlights
- Historic Victorian Italianate home originally built in 1858
- Updated electrical and plumbing systems, roofing, boiler components, bathrooms, and select windows
- Extensively renovated and refurnished interiors with refreshed exterior finishes
Property Analytics
Property Profile
Current Use
Lease Details
Turnkey business
Opportunity
Location Intelligence
Trade Area within ½ mile
949
Businesses Nearby
Explore this area
Business Placement
Demographics for 55331, MN
19,568
Population
8,275
Households
2.4
Avg Household Size
46
Median Age
71%
College-Educated
99%
High-School Grad
16.3 sq mi
ZIP Area
1,200
Density / Sq Mi
$160,029
Median Household Income
$75,771
Median Earnings
$1,208
Median Rent
$707,000
Median Home Value
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Historic lodging property with updated building systems, renovated interiors, and potential for retail, office, studio, or wellness use.
Where is this mixed-use property located?
The property is located at 371 Water St Excelsior, MN.
What is the asking price?
The asking price for this property is $1,950,000.
What are key features of this property?
This property features: Historic Victorian Italianate home originally built in 1858; Updated electrical and plumbing systems, roofing, boiler components, bathrooms, and select windows; Extensively renovated and refurnished interiors with refreshed exterior finishes
