$600,000
2318 1st Avenue S Minneapolis, MN 55404
For Sale MLS# 6782793
Other
Details for 2318 1st Avenue S
MLS# 6782793
Description for 2318 1st Avenue S, Minneapolis, MN, 55404
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 downtown2318 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 Information
Property Type: Commercial
Status: Active
Lot Size: 0.17 Acres
Square Feet: 4,862 sq ft
Year Built: 1920
Foundation: 1,764 sq ft
Subdivision: Remingtons Sub Ne 1/4 34-29-24
Number Of Units Total: 2
Current Use: Business Service,Office
County: Hennepin
Days On Market: 194
Construction Status: Previously Owned
School Information
District: 1 - Minneapolis
Interior Features
Flooring: Carpet,Tile,Wood
Basement: Partial Finished, Poured Concrete, Full
Utilities
Water: City Water/Connected
Sewer: City Sewer - In Street
Other Utilities: Electric Common,Heating Common,Hot Water Common
Cooling: Window
Heating: Baseboard, Radiant, Hot Water, Natural Gas
Exterior / Lot Features
Open Parking: 9
Parking Description: Guest Parking, Parking Lot, Paved Lot, Unassigned, Driveway - Asphalt, Garage Sq Ft - 0.00
Exterior: Brick/Stone
Lot Dimensions: 60x125
Zoning: Business/Commercial,Residential-Multi-Family
Additional Exterior/Lot Features: Corner Lot, Tree Coverage - Medium, Public Transit (w/in 6 blks), Land Inclusions - Building, Road Frontage - City, Curbs, Sidewalks, Street Lights, Storm Sewer
Driving Directions
E 22nd Street, take left at alley and park in back of building
Financial Considerations
Tax/Property ID: 3402924120043
Tax Amount: 19764
Tax Year: 2025
HomeStead Description: Non-Homesteaded
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Payment Calculator
Interest rate and annual percentage rate (APR) are based on current market conditions, are for informational purposes only, are subject to change without notice and may be subject to pricing add-ons related to property type, loan amount, loan-to-value, credit score and other variables. Estimated closing costs used in the APR calculation are assumed to be paid by the borrower at closing. If the closing costs are financed, the loan, APR and payment amounts will be higher. If the down payment is less than 20%, mortgage insurance may be required and could increase the monthly payment and APR. Contact us for details. Additional loan programs may be available. Accuracy is not guaranteed, and all products may not be available in all borrower's geographical areas and are based on their individual situation. This is not a credit decision or a commitment to lend.
Sales History & Tax Summary for 2318 1st Avenue S
Sales History
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Tax Summary
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Data powered by ATTOM Data Solutions. Copyright© 2026. Information deemed reliable but not guaranteed.
Schools
Schools nearby 2318 1st Avenue S
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The schools shown represent both the assigned schools and schools by distance based on local school and district attendance boundaries. Attendance boundaries change based on various factors and proximity does not guarantee enrollment eligibility. Please consult your real estate agent and/or the school district to confirm the schools this property is zoned to attend. Information is deemed reliable but not guaranteed.
SchoolDigger ® Rating
The SchoolDigger rating system is a 1-5 scale with 5 as the highest rating. SchoolDigger ranks schools based on test scores supplied by each state's Department of Education. They calculate an average standard score by normalizing and averaging each school's test scores across all tests and grades.
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