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$5,299,000

  • For Sale
  • Active
  • Single Family
  • 4 Beds
  • 3 Full Baths
  • 1 Partial Bath
  • 4,661 Sq. Ft.
  • 2 Car Garage
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Discover unparalleled luxury living in this exceptional new construction single-family home spanning over 5,000 square feet on prestigious Lake Street, perfectly positioned directly across from the pristine waters of Lake Minnetonka in the heart of historic downtown Excelsior. This stunning fresh build represents the pinnacle of contemporary design and premium craftsmanship, offering an extraordinary lifestyle where lakefront elegance meets vibrant downtown energy just moments from Minnesota's most coveted lake. Wake up to breathtaking water views and endless recreational opportunities while being steps away from boutique shopping, acclaimed waterfront restaurants, the famous Excelsior Commons, and seasonal festivals that make this community so special. Excelsior seamlessly blends historic charm with modern sophistication, where you can stroll tree-lined streets to lakeside dining, catch live music at the bandshell, launch your boat just minutes away, or simply enjoy the tranquil beauty of lakeside living that puts water sports, fine dining, and the coveted Lake Minnetonka lifestyle right at your doorstep. With fresh contemporary design featuring premium finishes throughout, modern energy-efficient systems, move-in ready convenience, and builder warranty protection, this expansive home offers the perfect blend of luxury, location, and lifestyle in one of Minnesota's most desirable communities where every day feels like a vacation and easy Twin Cities access maintains that cherished small-town lake community feel that makes Excelsior truly extraordinary.

Full Property Details for 254 Lake St

General

  • Price: $5,299,000
  • Taxes: $13,981 (2025)
  • Status: Active
  • Type: Single Family
  • Source: NorthStarMLS_RMLS
  • MLS ID: 6789422
  • Updated: 11/26/2025
  • Added to Site: 147 day(s) ago

Interior

  • Fireplace: Yes
  • Number of Fireplaces: 2
  • Fireplace(s): Family Room, Gas, Living Room
  • Appliances: Chandelier, Dishwasher, Double Oven, Dryer, Electronic Air Filter, Exhaust Fan, Freezer, Humidifier, Gas Water Heater, Microwave, Refrigerator, Stainless Steel Appliances, Wall Oven, Washer

Rooms

Bathrooms

  • Total Bathrooms: 4
  • Full Bathrooms: 3
  • Half Bathrooms: 1

Bedrooms

  • Total Bedrooms: 4

Other Rooms

  • Dining Room: Informal Dining Room
  • Formal Dining Room: Informal Dining Room

Additional Information

  • Amenities: Ceiling Fan(s), Exercise Room, Hardwood Floors, Hot Tub, Kitchen Center Island, Kitchen Window, Primary Bedroom Walk-In Closet, Patio, Panoramic View, Sauna, Boat Slip, Tile Floors, Vaulted Ceiling(s), Washer/Dryer Hookup, Wet Bar, Walk-In Closet
  • Pool: Yes
  • Pool Description: Below-Ground, Heated, Outdoor Pool

Exterior

  • Porch/Patio/Deck: Covered, Patio, Screened

Parking

  • Garage: Yes
  • Attached garage: Yes
  • Garage Description: 20 x 26
  • Garage Spaces: 2
  • Parking Features: Attached Garage

Location

  • County: Hennepin
  • Subdivision: Seamans Sub Of Lts 7 & 8 Excelsior
  • Driving Directions: WATER ST TO LAKE ST TO 1ST ST RIGHT INTO ALLEY - 254 STRAIGHT AHEAD

School Information

  • School District: 276 - Minnetonka
  • High School District: Minnetonka

Heating & Cooling

  • Central air: Yes
  • Cooling Type: Central Air
  • Heating Type: Forced Air
  • Heating Fuel: Natural Gas

Utilities

  • Sewer: City Sewer Connected
  • Water: City Water (Connected)

Structural Information

  • Exterior Const.: Fiber Board
  • Basement: Yes
  • Basement Desc.: Block
  • Foundation Size: 1766
  • Roof: Age 8 Years or Less
  • Disability Access: None
  • Square Feet: 4,661
  • Above Ground: 4,156 Sq. Ft.
  • Below Ground: 1,766 Sq. Ft.
  • Finished Down/Base.: 5,922 Sq. Ft.
  • Year Built: 2025

Lot Features

  • Lot Size (Acres): 0.16
  • Lot Dimensions: 55 x 127
  • Zoning: Residential-Single Family
  • Fencing (Description): Wood

Water Features

  • Water Front Name: Minnetonka
  • Water Front Desc.: Lake View
  • Water Front Num: 27013300
  • Lake Acres: 14205
  • Lake Depth: 113

Financial Considerations

  • Tax Amount: $13,981
  • Tax Year: 2025

Disclosures and Reports

  • Legal Description: LOT 003 SEAMANS SUBD OF LOTS 7 & 8 EXCELSIOR EX ALLEY
  • Property ID: 3411723110134

Listed by Rize Realty

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— 254 Lake St —

  • Rize Realty

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NMLS#: 1598647

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Be ready to buy your new home!

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NMLS#: 1598647

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Request a Quote

Save up to an additional 20% by bundling your home and auto together!

Schools serving 254 Lake St

School District:Minnetonka Public School District
NameGradesDistance
Excelsior Elementary School
441 Oak Street, Excelsior, MN 55331
K-50.4 mi
Minnetonka West Middle School
6421 Hazeltine Boulevard, Excelsior, MN 55331
6-81.5 mi
Minnetonka Senior High School
18301 Minnesota 7, Minnetonka, MN 55345
9-122.8 mi
Disclaimer: School attendance boundaries provided by Pitney Bowes and are for reference only. Contact the school directly to verify enrollment eligibility.

Price & Sales History for 254 Lake St Get Price Alerts and Save Property

Date
Details
Price
Change
Source
11/26/2025
Price Reduced
$5,299,000
-7.04%
MLS
10/03/2025
Listed
$5,700,000
647.54%
MLS
1/27/2023
Sold
$762,500
—
Public Record
Get Price Alerts and Save Property
Disclaimer: Historical sales information is derived from public records provided by the county offices. Information is not guaranteed and should be independently verified.

Tax History for 254 Lake St

Year
Property Taxes
Change
Tax Assessment
Change
2025
$13,981
38%
$1,063,100
14%
2023
$10,112
18%
$933,300
19%
2023
$8,558
—
$786,000
3%
2023
$8,558
-9%
$764,000
3%
2020
$9,409
-16%
$741,000
-13%
2019
$11,140
-22%
$847,000
-17%
2018
$14,241
24%
$1,021,000
23%
2017
$11,530
7%
$829,000
9%
2016
$10,737
10%
$762,000
13%
2015
$9,727
11%
$673,000
19%
2014
$8,737
—
$566,000
-2%
2013
$8,699
—
$575,000
—
View All
Disclaimer: Historical tax information is derived from public records provided by the county offices. Information is not guaranteed and should be independently verified.

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Listed by Rize Realty

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254 Lake Street, Excelsior, MN 55331 (MLS# 6789422) is a Single Family property with 4 bedrooms, 3 full bathrooms and 1 partial bathroom. 254 Lake Street is currently listed for $5,299,000 and was received on September 15, 2025. Want to learn more about 254 Lake Street? Do you have questions about finding other Single Family real estate for sale in Excelsior? You can browse all Excelsior real estate or contact a Coldwell Banker agent to request more information.

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