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Key Details
Property Type Commercial
Listing Status Active
Purchase Type For Sale
Subdivision Remingtons Sub Ne 1/4 34-29-24
MLS Listing ID 6782793
Year Built 1920
Annual Tax Amount $19,764
Tax Year 2025
Contingent None
Lot Size 7,405 Sqft
Acres 0.17
Lot Dimensions 60x125
Property Description
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.
Location
State MN
County Hennepin
Zoning Business/Commercial,Residential-Multi-Family
Rooms
Basement Full, Concrete, Partially Finished
Interior
Heating Baseboard, Hot Water, Radiant
Cooling Window Unit(s)
Inclusions Building
Fireplace No
Exterior
Parking Features Asphalt, Guest Parking, Parking Lot, Paved, Unassigned
Utilities Available Electric Common, Heating Common, Hot Water Common
Present Use Professional/Office,Office
Building
Lot Description Public Transit (w/in 6 blks), Corner Lot, Many Trees
Foundation 1764
Sewer City Sewer - In Street
Water City Water/Connected
Structure Type Brick/Stone
Schools
School District Minneapolis
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Ingrid Friel
Residential Realtor | License ID: 40213017
Residential Realtor License ID: 40213017