3514 County Road 101 Wayzata, MN 55391
- Land
- 2.10 lot acres
Current Use by Public Records
- Land
Property Details for 3514 County Road 101
- Lot size
- 2.10 lot acres
- Property type
- Land
Description
This exceptional 2.1-acre development opportunity in Wayzata, Minnesota, presents a unique chance to create a thriving multifamily community. Located at 3514 County Rd 101, Hennepin County, this property (APN 18-117-22-41-0007) comprises three contiguous parcels zoned B-1 & R-2, offering significant potential for high-density residential development. The site currently features a 4,800 square foot office (formerly a single-family home) and two duplexes, providing immediate cash flow while redevelopment plans are finalized. The 2040 Comprehensive Plan designates this area as Mixed Use, allowing for up to 125 units per acre, making it an ideal location for a substantial multifamily project. Situated near the prestigious Lake Minnetonka and within walking distance of local amenities, this property benefits from a highly desirable location with strong demand for rental housing and high household incomes. The existing tenants are on short-term leases, offering flexibility for a buyer to implement their development vision. This is a rare chance to acquire a cash-flowing asset in a prime location with exceptional growth potential. The asking price is $3,000,000. The property's zip code is 55391.
Value Estimation
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Wayzata
- County
- Hennepin
- State
- Minnesota
- Longitude
- -93.5028
- Latitude
- 44.9401
