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The Guest House 371 Water St 7 Room Bed and Breakfast Excelsior, MN 55331 $2,692,696 CAD ($384,671 CAD/Room)
Investment Highlights
- Boutique owner-user / hospitality property located in the heart of Excelsior, Minnesota, just steps from Lake Minnetonka
- Since acquiring the property in 2021, ownership has invested approximately $342,000 into capital improvements.
- Historic Victorian Italianate home originally built in 1858 and thoughtfully restored to blend timeless charm with modern amenities
- Potential for a combination of retail/commercial and hospitality uses, including operating a destination retail concept, showroom, studio, etc.
- The Property benefits from updated electrical and plumbing systems, updated roofing and boiler components, updated bathrooms, updated windows, etc.
- Prime location near Lake Minnetonka marinas, beaches, parks, trails, and yearround community events
Executive Summary
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.
Property Facts
| Price | $2,692,696 CAD | Lot Size | 0.44 AC |
| Price Per Room | $384,671 CAD | Building Size | 6,323 SF |
| Sale Type | Investment | No. Rooms | 7 |
| Sale Condition | Business Value Included | No. Stories | 2 |
| Property Type | Hospitality | Year Built/Renovated | 1950/2026 |
| Property Subtype | Bed and Breakfast | Parking Ratio | 2.69/1,000 SF |
| Building Class | B | Corridor | Interior |
| Zoning | CC | ||
| Price | $2,692,696 CAD |
| Price Per Room | $384,671 CAD |
| Sale Type | Investment |
| Sale Condition | Business Value Included |
| Property Type | Hospitality |
| Property Subtype | Bed and Breakfast |
| Building Class | B |
| Lot Size | 0.44 AC |
| Building Size | 6,323 SF |
| No. Rooms | 7 |
| No. Stories | 2 |
| Year Built/Renovated | 1950/2026 |
| Parking Ratio | 2.69/1,000 SF |
| Corridor | Interior |
| Zoning | CC |
Amenities
- Balcony
- High Speed Internet Access
- Patio
- Public Access Wifi
- Smoke-Free
- Fully-Equipped Kitchen
- Multi-Room Suites
About 371 WATER ST , EXCELSIOR, MN 55331
Excelsior, Minnesota, is a historic lakeside community situated on the southern shores of Lake Minnetonka, one of the Twin Cities’ premier recreational destinations. Just 20 minutes west of downtown Minneapolis, Excelsior combines small-town charm with upscale amenities, offering visitors easy access to boating, beaches, scenic trails, shopping, dining, and year-round events. Founded in 1853 as a resort destination, the city has maintained its rich history while evolving into one of the most desirable communities in the Minneapolis metropolitan area. The walkable downtown district features boutique shops, award-winning restaurants, breweries, coffee shops, art galleries, and waterfront parks, making it a favorite destination for both locals and tourists. Visitors can enjoy Lake Minnetonka through boating, paddleboarding, fishing, and cruises aboard the historic Steamboat Minnehaha, while nearby trails and public spaces provide abundant opportunities for outdoor recreation and community events throughout the year. Excelsior’s prime location on Lake Minnetonka and its proximity to the Twin Cities make it an ideal destination for weekend getaways, weddings, family gatherings, and corporate retreats. The community is approximately 20 miles from downtown Minneapolis, 30 miles from downtown Saint Paul, 25 miles from Minneapolis–Saint Paul International Airport, and within a day’s drive of major Midwest markets including Rochester, Duluth, Des Moines, and Madison.
Room Mix Information
| Description | No. Rooms | Daily Rate | SF |
|---|---|---|---|
| Suite | 7 | $642.10 CAD | - |
Property Taxes
| Parcel Number | 34-117-23-14-0071 | Improvements Assessment | $1,101,796 CAD |
| Land Assessment | $1,173,739 CAD | Total Assessment | $2,275,536 CAD |
Property Taxes
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The Guest House | 371 Water St
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