Updated Duplex with Attached
For Sale
$599,000
5570 & 5580 Shorewood Lane, Excelsior, MN 55331
MULTI_FAMILY - Excelsior, MN
Property Size2,230 SF
Lot Size0.46 Acres
Price / SF$268.61
Days on Market90
Property Features for 5570 & 5580 Shorewood Lane
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Zoning description
Residential-Multi-Family
Bedrooms
6
Bathrooms
4
Full bathrooms
4
Rooms
Bathroom 1, Basement, Bedroom 6, Bathroom 2, Bedroom 1, Bedroom 3, Bedroom 2, Bathroom 4, Bathroom 3, Bedroom 4, Bedroom 5
Parking features
Garage - Attached, Driveway
Exterior features
Wood
Lot features
Irregular Lot, Tree Coverage - Heavy
High school district
Minnetonka
Directions
Co. Rd. 9 to Shorewood Lane to duplex on left.
Standard status
Active
APN
3311723110091
Size
2,230 SF
Lot size
0.46 Acres
Taxes and HOA fees
Tax Year
2026
Tax Annual Amount
7026
Utilities
Heating system
Forced Air
Water source
Well
Building Details
Year built
1968
Roof type
Shingle
Listing Agency:
Keller Williams Premier Realty Lake Minnetonka · Keller Williams Realty
(952) 475-0111
Listed By:
The Holmers Group
(952) 475-0111
Added: May 22
Changed: Aug 15
Last Checked: Aug 19 at 7:06PM
MLS# 7079447
Copyright © 2026 Northstar MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This updated duplex at 5570 and 5580 Shorewood Lane offers two well-maintained units with extensive improvements. The property includes wood exterior features, a shingle roof, well water service, and forced-air heating. Parking is provided via attached garages and a driveway.
Major exterior improvements were completed in 2010, including new columns, shutters, paint, professional landscaping, and a 35-year Timberline roof. Additional updates in 2026 include new carpet, luxury vinyl plank flooring, full interior paint, updated light switches, painted garage and utility floors, and new appliances. Mechanical updates include newer furnaces installed within the past five years.
Built in 1968 and situated on a 0.46-acre lot, the duplex contains approximately 2,230 square feet of living area. The layout includes bedrooms and multiple bathrooms across the units, with a basement also included in the configuration.
Major exterior improvements were completed in 2010, including new columns, shutters, paint, professional landscaping, and a 35-year Timberline roof. Additional updates in 2026 include new carpet, luxury vinyl plank flooring, full interior paint, updated light switches, painted garage and utility floors, and new appliances. Mechanical updates include newer furnaces installed within the past five years.
Built in 1968 and situated on a 0.46-acre lot, the duplex contains approximately 2,230 square feet of living area. The layout includes bedrooms and multiple bathrooms across the units, with a basement also included in the configuration.
Key Highlights
- Updated duplex at 5570 & 5580 Shorewood Lane
- 0.46‑acre lot and approximately 2,230 SF
- Major exterior improvements in 2010 plus a 35‑year Timberline roof
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$28,899
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
4.82%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$577,980
$578.0K
Cap Rate 7%
$412,843
$412.8K
Cap Rate 9%
$321,100
$321.1K
Market Conditions
NOI Build-Up for 2,230 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$44.2K $19.80/SF
− Vacancy
−$2.9K −$1.29/SF
EGI
$41.3K $18.51/SF
− OpEx
−$12.4K −$5.55/SF
NOI
$28.9K $12.96/SF
Area
Hennepin County, MN
Vacancy
6.50%
Lease Rate
$19.80 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$577,980
Cap Rate 7%
$412,843
Cap Rate 9%
$321,100
Alternative Uses
Best Use
Multifamily LT 5
$412.8K
$361.2K – $481.7K
NOI $28,899 @ 7.0% cap · market cap 4.82%
Second Best
Apartment 5plus
$372.4K
$325.8K – $434.4K
NOI $26,065 @ 7.0% cap · market cap 4.35%
Theoretical Best
Office A
$532.0K
$465.5K – $620.7K
NOI $37,242 @ 7.0% cap · market cap 6.22%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
218
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
Market
Vacancy Rate% for Multifamily in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Duplex - Well-maintained duplex with forced-air heat, attached garages, and extensive exterior and interior updates.
Where is this duplex located?
The property is located at 5570 & 5580 Shorewood Lane Excelsior, MN.
What is the asking price?
The asking price for this property is $599,000.
What are key features of this property?
This property features: Updated duplex at 5570 & 5580 Shorewood Lane; 0.46‑acre lot and approximately 2,230 SF; Major exterior improvements in 2010 plus a 35‑year Timberline roof
