$1,485,000
$1,500,000
1.0%For more information regarding the value of a property, please contact us for a free consultation.
371 Water Excelsior, MN 55331
0.44 Acres Lot
Key Details
Sold Price $1,485,000
Property Type Commercial
Listing Status Sold
Purchase Type For Sale
Subdivision Auditors Sub 135
MLS Listing ID 5756299
Sold Date 08/11/21
Year Built 1858
Annual Tax Amount $12,025
Tax Year 2020
Contingent None
Lot Size 0.440 Acres
Acres 0.44
Lot Dimensions 100 X 184
Property Description
This is a rare opportunity to live and/or work in the heart of the Excelsior village at the Bird House Inn property which is currently operating as a VRBO/Bed & Breakfast hybrid. Revenue from whole house rentals is on average 10% more than revenue generated from full occupancy in the B&B model. Structures include a 6 bed, 5 bath, 3,000 sq ft B&B structure built in 1858 and a 3 bed, 1 bath, 1,300 sq ft cottage built in 1990. The cottage is currently used as an owner's residence and includes a 2 car, attached, heated garage. All of this is set on a beautiful, private, .44 acre lot along prime, historic Water Street with an abundance of flat, green space and off street parking for up to 17 vehicles. The property has been vigorously maintained and extensively improved by the current owners. Improvements to the B&B structure include a new foundation, a new 1" water main, new 100 amp service and renovated bathrooms with heated floors and high end finishes. The cottage was renovated in 2015.
Location
State MN
County Hennepin
Zoning Business/Commercial
Rooms
Basement Block, Daylight/Lookout Windows, Finished, Full, Storage Space, Unfinished, Walkout
Interior
Heating Hot Water
Cooling Central Air, Wall Unit(s)
Fireplace No
Appliance Cooktop, Dishwasher, Disposal, Dryer, Microwave, Range, Refrigerator, Wall Oven, Washer, Water Softener Owned
Exterior
Parking Features Attached Garage, Detached, Asphalt, Electric, Floor Drain, Garage Door Opener, Heated Garage, Insulated Garage, Multiple Garages, Paved, RV Access/Parking, Storage, Tuckunder Garage
Garage Spaces 4.0
Utilities Available Electric Common, Heating Common, Hot Water Common
Roof Type Age Over 8 Years,Asphalt
Present Use Bed & Breakfast,Hotel/Motel,Residential
Building
Lot Description Corner Lot, Tree Coverage - Medium
Story Two
Foundation 2695
Sewer City Sewer/Connected
Water City Water/Connected
Level or Stories Two
Structure Type Wood Siding
Schools
School District Minnetonka
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