371 Water St - Hospitality FOR SALE


$1,950,000 USD
651-492-0563
371 Water St, Excelsior, MN for Sale
$1,950,000 USD
Hospitality - FOR SALE
1/37
null | Request Cap Rate


HIGHLIGHTS

  • Boutique owner-user / hospitality property located in the heart of Excelsior, Minnesota, just steps from Lake Minnetonka
  • Potential for a combination of retail/commercial and hospitality uses, including operating a destination retail concept, showroom, studio, etc.
  • Since acquiring the property in 2021, ownership has invested approximately $342,000 into capital improvements.
  • The Property benefits from updated electrical and plumbing systems, updated roofing and boiler components, updated bathrooms, updated windows, etc.
  • Historic Victorian Italianate home originally built in 1858 and thoughtfully restored to blend timeless charm with modern amenities
  • Prime location near Lake Minnetonka marinas, beaches, parks, trails, and yearround community events

OVERVIEW

SVN | Northco is pleased to present, as exclusive advisor to ownership, the listing of The Guest House, a highly-visible mixed-use owner-user and hospitality opportunity in the heart of downtown Excelsior, Minnesota, just steps from scenic Lake Minnetonka ("Property"). Originally built in 1858 as a single-family estate, and now run for several decades as several very popular vacation rentals, this beautifully restored historic Victorian Italianate home blends timeless character with modern accommodations, offering seven bedrooms and seven bathrooms that comfortably host up to 17 guests. For larger groups, the adjacent Carriage House expands the property to a total of 10 bedrooms and accommodations for up to 24 guests. Featured on the reality series Miss INNdependent, The Property has become a premier destination for family gatherings, weddings, retreats, and special events, all within walking distance of Excelsior’s vibrant downtown dining, shopping, and waterfront attractions. Financials and other due diligence materials are available with an executed NDA.

FOR SALE DETAILS

PRICE

$1,950,000 USD

PRICE/SF

$453 USD /SF

# OF ROOMS

7

PRICE/ROOM

$278,571 {currency}

CAP RATE

Request Cap Rate

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

The Guest House

PROPERTY TYPE

Hospitality

TOTAL BUILDING SIZE

-

STORIES

2

ROOM ENTRANCE

Interior

BUILDING CLASS

B

YEAR BUILT

1858

PARKING SPACES

17

LAND DETAILS

LAND ACRES

0.44 AC

LAND SF

19,166 SF

ZONING

CC

APN/PARCEL ID

34-117-23-14-0071

ASK ABOUT THIS PROPERTY

Ned RuppSVN | Northco Real EstateMore Info
651-492-0563

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Ned RuppSVN | Northco Real EstateMore Info
651-492-0563

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.