Excelsior, MN 55331

$1,890,000
Property Type: Commercial Square Footage: 4,116 Lot Size (sq. ft.): 5,663 Status: Closed
Current Price: $1,890,000 List Date: 4/03/2023 Last Modified: 6/08/2025

Overview

Description

434 Lake Street is a distinctive all brick 4,116 SF three story building with retail on the main level and offices above creating a prime opportunity for Owner/Users or Investors. With 8 coveted off street parking spaces. This property is across the street from Lake Minnetonka with water views and half a block to Water Streets shops and restaurants, make this a prime location. The Excelsior community is very supportive of local businesses and offer great networking opportunities. Financials are available upon request. Appts thru lister.

Listing Details MLS# 6337173

General Property Information

Lot Measurement
Acres
Multiple PIDs?
No
Year Built
2000
Yearly/Seasonal
Yearly
Zoning
Business/Commercial
Lot Size SqFt
5662.8
Foundation Size
1372
For Sale or Lease
For Sale
Acres
0.13
Lot Dimensions
94x60
Assessment Pending
Unknown
Other Parking Spaces
0
Garage Stalls
0

Property Features

Accessible: Accessible Elevator Installed CMU Style: Office; Retail/Shopping Center Construction Status: Previously Owned Current Use: Commercial; Office; Retail Exterior: Brick/Stone Fuel: Electric Heating: Forced Air Loan Terms: Cash; Conventional On Site Utilities: Electric Separate; Heating Separate; Hot Water Common Parking Characteristics: Assigned Sewer: City Sewer/Connected Water: City Water/Connected

Contract Information

Allow Auto Valuation
No
Allow Consumer Comment
No
Off Market Date
2023-09-21
Closed Date
2023-09-20
Sales Close Price
1890000
Original List Price
2300000
Contingency
None
ListPrice
1995000
Owner is an Agent?
No
Auction?
No

Location Tax and Other Information

Postal City
Excelsior
County
Hennepin
State
MN
Zip Code
55331
Complex/Dev/Subdivision
Auditors Sub 120

Basement

Foundation Dimensions
49x28

Building Information

Building Finished SqFt
4116
Building SqFt
4116

More Information

Income and Expenses

Annual Gross Expenses
90646
Annual Gross Income
124390
Annual Net Income
33734

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,Leases

Unit Details

Total Units
Yes

Office/Member Info

Association
MAAR
MLSID
RMLS

Location, Tax and Other Information

Map Page
117
Municipality
Excelsior
Rental License?
No
School District
Minnetonka
School District Phone
952-401-5000
Map Coordinate Source
King's Street Atlas
Zip Plus 4
4440
Property ID Number
3411723110006
Tax Year
2023
Tax Amount
0
In Foreclosure?
No
Potential Short Sale?
No
Lender Owned?
No

Directions & Remarks

Public Remarks
434 Lake Street is a distinctive all brick 4,116 SF three story building with retail on the main level and offices above creating a prime opportunity for Owner/Users or Investors. With 8 coveted off street parking spaces. This property is across the street from Lake Minnetonka with water views and half a block to Water Streets shops and restaurants, make this a prime location. The Excelsior community is very supportive of local businesses and offer great networking opportunities. Financials are available upon request. Appts thru lister.
Directions
Hwy 7 to Oak St. N to Water Street to Lake St. Right to 434 " Subaqua Building"

Accessible

Accessible Elevator Installed
Yes

Assessments

Assessment Balance
0
Tax With Assessments
0

Construction Status

Previously Owned
Yes

Exterior

Brick/Stone
Yes

Fuel

Electric
Yes

Heating

Forced Air
Yes

Parking Characteristics

Assigned
Yes

Sewer

City Sewer/Connected
Yes

Water

City Water/Connected
Yes

On Site Utilities

Electric Separate
Yes
Heating Separate
Yes
Hot Water Common
Yes

CMU Style

Office
Yes
Retail/Shopping Center
Yes

Current Use

Commercial
Yes
Office
Yes
Retail
Yes

Loan Terms

Cash
Yes
Conventional
Yes
IDX
Listing Office: Coldwell Banker Realty
Last Updated: June - 08 - 2025
The data relating to real estate for sale on this web site comes in part from the Broker Reciprocity SM Program of the Regional Multiple Listing Service of Minnesota, Inc. The information provided is deemed reliable but not guaranteed. Properties subject to prior sale, change or withdrawal. ©2024 Regional Multiple Listing Service of Minnesota, Inc All rights reserved.

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