$ 600,000
-
$600,000
Price -
6,009
SqFt -
0.17
Acre
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About the Listing 40547 - 502047066
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 Highlights
Interior Details
- Appliances:
- Air Cond: Window Unit(s)
- Heating: Baseboard,Hot Water,Radiant,Natural Gas
- Fireplaces:
- Floor:
- Basement: Full,Partially Finished
- Other:
- Water: City Water/Connected
Exterior Details
- Lot Description: Public Transit (w/in 6 blks),Corner Lot,Tree Coverage - Medium
- Garage Capacity: N/A
- Lot Dimensions: 60x125
- Zoning: Business/Commercial,Residential-Multi-Family
- Roof:
- Others:
- Sewer: City Sewer - In Street
- Parking Features: Asphalt,Guest Parking,Parking Lot,Paved Lot,Unassigned
Financial Details
- Tax Amount: $19,764
- Taxes w/Assessments: N/A
- Tax/Property ID: 3402924120043
- Tax Year: 2025
Payment Calculator
Monthly Payment
- in Principal and Interest
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Questions About..
2318 1st Ave S Minneapolis, MN 55404
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