For Sale: Minneapolis MLS# 6782793
Active
$600,000
Commercial: Other
Built 1920
0.17 acres
Minneapolis schools
MLS# 6782793
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Property Description
Prime RM3 Investment Opportunity – 2318 1st Ave S, Minneapolis.
Position your portfolio for success with this 6, 009 SF multi-use commercial property in the heart of Minneapolis. Built in 1920 and situated on a prominent corner lot, this property offers the rare combination of historic architecture, flexible zoning, and strong location fundamentals—a winning formula for investors and owner-users alike.
Currently configured as professional office space, the building features three separate entrances across three floors plus a lower level, allowing for multi-tenant use or conversion to mixed-use, residential, or institutional operations. The RM3/BFI3 zoning supports a broad range of uses including large-scale dwellings, professional offices, and major institutional tenants, giving investors a flexible foundation for future growth or repositioning.
Nine off-street parking stalls—a rare urban luxury—enhance accessibility and tenant appeal. With the previous owner (a long-standing accounting firm) now relocated, the property is move-in ready or available for immediate redevelopment or lease-up strategy.
Located just steps from Eat Street, the Minneapolis Institute of Art, and Midtown Global Market, this property sits within one of the city’s most vibrant and transit-connected neighborhoods. The strong surrounding tenant mix, bike and bus accessibility, and proximity to downtown create a high-demand environment for professional users and long-term investment stability.
Investment Highlights:
- 6, 009 SF brick building (approx. 4, 862 SF finished) on a corner lot
- RM3/BFI3 zoning – ideal for office, residential, or institutional uses
- 3 separate entrances for multi-tenant or flexible layouts
- 9 off-street parking stalls – rare in core Minneapolis
- Solid 1920 construction with timeless architectural appeal
- Vacant and ready for occupancy, repositioning, or redevelopment
- Surrounded by high-demand cultural and commercial amenities
- Located in a strong rental and employment corridor near downtown
2318 1st Ave S represents a smart acquisition for investors seeking a versatile, centrally located asset with multiple upside paths—whether through adaptive reuse, multi-tenant office leasing, or future residential conversion.
Listing
Listing Status:
Active
Contingency:
None
List Price:
$600,000
Property Type:
Commercial
City:
Minneapolis
Garage Spaces:
0
County:
Hennepin
Year Built:
1920
State:
MN
Property Style:
Other
Zip Code:
55404
Neighborhood/Area:
Whittier
Subdivision Name:
Remingtons Sub Ne 1/4 34-29-24
Interior
Basement Details:
- Concrete
- Full
- Partially Finished
Exterior
Garage Spaces:
0
Other Parking Spaces:
9
Air Conditioning:
Window Unit(s)
Foundation Size:
1,764 ft2
Foundation Dimensions:
42x42
Handicap Accessible:
None
Road Responsibility:
Public Maintained Road
Heating System:
- Baseboard
- Hot Water
- Radiant
Parking Features:
- Asphalt
- Guest Parking
- Parking Lot
- Paved
- Unassigned
Road Frontage:
- City Street
- Curbs
- Sidewalks
- Storm Sewer
- Street Lights
Exterior Material:
Brick/Stone
Lot & Land
Acres:
0.17
Geolocation:
44.959359, -93.276907
Inclusions:
Building
Lot Dimensions:
60 x 125
Zoning:
- Business/Commercial
- Residential-Multi-Family
Lot Description:
- Corner Lot
- Many Trees
- Public Transit (w/in 6 blks)
Schools
School District:
1
District Phone:
612-668-0000
Financial & Taxes
Tax Year:
2025
Annual Taxes:
$19,764
Lender-owned:
No
Assessment Pending:
No
Taxes w/ Assessments:
$19,764
Units
Total Units:
2
Miscellaneous
Current Use:
- Office
- Professional/Office
Fuel System:
Natural Gas
Sewer System:
City Sewer - In Street
Available Utilities:
- Electric Common
- Heating Common
- Hot Water Common
Water System:
City Water/Connected
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Local Home Mortgage Professionals
Eric Bloomstrand
Branch Sales Manager
Fairway Home Mortgage NMLS#274211
612-961-2600
Eric Bloomstrand is a Branch Sales Manager at Fairway Home Mortgage with 30+ years of experience in the mortgage banking services industry. Eric has extensive skills in construction loans, FHA financing, VA loans, USDA, and first-time buyer down payment assistance programs. He is a well-qualified finance professional with a Bachelor of Science focused in Finance and Marketing from Minnesota State University, Mankato. Helping individuals acquire their dream home is his passion.
Connect with Eric today to get started with your home purchase!
Listing provided by RMLS,
courtesy of Keller Williams Realty Integrity.
Disclaimer: The information contained in this listing has not been verified by TheMLSonline.com and should be verified by the buyer.
Disclaimer: The information contained in this listing has not been verified by TheMLSonline.com and should be verified by the buyer.