261 School Ave 23,429 SF 95% Leased Office Building Excelsior, MN 55331 $5,813,346 CAD ($248.13 CAD/SF)
INVESTMENT HIGHLIGHTS
- Well located in downtown Excelsior
- Own a piece of History with this 1889 former school building, now offices
- Great opportunity for Investors of Owner Users
EXECUTIVE SUMMARY
261 School Avenue is a rare historical opportunity in the heart of Excelsior, located in the commercial district and a few blocks from Lake Minnetonka. This classic 1899 revival style building has undergone a complete renovation and updated to its current
multi-tenant office use in 1997. The building features four levels of office suites, common areas; lobby, ADA restrooms and an elevator making this property handicap accessible. Zoned CC-Cottage Commercial District, which is a mixture of commercial service, retail, entertainment, civic, institutional, and related public facilities.
This well-maintained property represents a quality investment opportunity with great tenants, reasonable lease rates, and space for an owner user if desired.
multi-tenant office use in 1997. The building features four levels of office suites, common areas; lobby, ADA restrooms and an elevator making this property handicap accessible. Zoned CC-Cottage Commercial District, which is a mixture of commercial service, retail, entertainment, civic, institutional, and related public facilities.
This well-maintained property represents a quality investment opportunity with great tenants, reasonable lease rates, and space for an owner user if desired.
FINANCIAL SUMMARY (ACTUAL - 2021) Click Here to Access |
ANNUAL (CAD) | ANNUAL PER SF (CAD) |
|---|---|---|
| Gross Rental Income |
$99,999
|
$9.99
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$99,999
|
$9.99
|
| Taxes |
-
|
-
|
| Operating Expenses |
-
|
-
|
| Total Expenses |
$99,999
|
$9.99
|
| Net Operating Income |
$99,999
|
$9.99
|
PROPERTY FACTS
Sale Type
Investment or Owner User
Property Type
Office
Building Size
23,429 SF
Building Class
B
Year Built
1899
Price
$5,813,346 CAD
Price Per SF
$248.13 CAD
Percent Leased
95%
Tenancy
Multiple
Building Height
4 Stories
Typical Floor Size
5,857 SF
Slab To Slab
9’
Building FAR
0.55
Lot Size
0.98 AC
Zoning
C-C - Cottage Commercial
Parking
52 Spaces (2.22 Spaces per 1,000 SF Leased)
Walk Score®
Very Walkable (71)
PROPERTY TAXES
| Parcel Number | 34-117-23-14-0051 | Improvements Assessment | $490,594 CAD (2023) |
| Land Assessment | $2,358,734 CAD (2023) | Total Assessment | $2,849,328 CAD (2023) |
