2318 1st Avenue S, Minneapolis, MN 55404

• 4,862 sqft

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 Status:

Active

Listing Office:

Keller Williams Realty Integrity : 952-938-6100

MLS ID:

6782793

Interior

• Basement: FullConcretePartially Finished
• A/C: Window Unit(s)
• Heating: BaseboardHot WaterRadiant

Exterior

• Parking: AsphaltGuest ParkingParking LotPavedUnassigned

Location

• Road/Access: City StreetCurbsSidewalksStreet LightsStorm Sewer
• Originating MLS: northstar
• School District: Minneapolis
• County: Hennepin

Lot

• Zoning: 3402924120043
• Current Use: Professional/OfficeOffice

Utilities

• Utilities: Electric CommonHeating CommonHot Water Common
• Water: City Water/Connected
• Sewer: City Sewer - In Street

Financial

• Source: northstar

This listing courtesy of Keller Williams Realty Integrity