371 Water St
- Boutique owner-user / hospitality property located in the heart of Excelsior, Minnesota, just steps from Lake Minnetonka and within walking distance of downtown shops, restaurants, and more
- Potential for a combination of retail/commercial and hospitality uses, including operating a destination retail concept, showroom, studio, wellness business, professional office, or similar use while retaining lodging income
- 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, select updated windows, refreshed exterior finishes, and extensively renovated and refurnished interiors.
- 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, offering guests convenient access to one of
- Minnesota’s premier leisure destinations
- The sale includes the land and improvements, FF&E, and substantially all assets associated with the existing hospitality business
Property Description
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.
Key Property Information
| Listing Status: | Unavailable |
|---|---|
| Listing Type: | Call for offers |
| Property Types: | Hospitality |
| Price: | $1,950,000 |
| No. of Units: | 10 |
| Year Built: | 1950 |
| Lot Size: | 0.44 Acres |
| Opportunity Zone: | No |
| Price per unit: | $195,000 |
| Property Website | Click Here |
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