A rare opportunity to reimagine, renovate, or build new in one of Excelsior’s most sought-after locations. Positioned just one street from the Port of Excelsior with stunning lake views and the shores of Lake Minnetonka just steps away, the setting alone makes this an exceptional offering. The property offers incredible flexibility whether you choose to bring your own vision to life, move forward with the fully approved proposed plans, or start fresh with a custom new build tailored to your exact specifications. The current residence features a functional 4-bed, 3-bath layout with hardwood floors, abundant natural light, spacious living areas, and walkout access to back deck. A main-level bedroom paired with a nearby full bathroom offers added convenience and flexibility for guests, office space, or everyday living. Upstairs includes three bedrooms plus a flexible den/office space, while the walkout lower level adds additional living space, 3/4 bathroom, and storage versatility. An easement has already been secured for a future driveway and garage addition, significantly enhancing both value and usability! What truly sets this property apart is the extensive redevelopment groundwork already completed. Fully approved plans, variances, design review, architectural drawings, MEP plans, and curated finish selections are included if desired, creating a streamlined, permit-ready opportunity in a premier Excelsior setting!