233 Groveland Avenue, Minneapolis, MN 55403
- Added:
- Oct 10, 2025
- Days on Market:
- 248
- Last Refresh:
- Jun 14 at 4:06 pm
Property Features for 233 Groveland Avenue
General Information
- Property type
- Commercial Sale
- Property subtype
- Other
- Zoning
- Business/Commercial,Residential-Single Family
- Parking features
- Garage, Garage - Attached
- Exterior features
- Stucco
- Standard status
- Active
- APN
- 2702924340039
Taxes and HOA fees
- Tax Year
- 2025
- Tax Annual Amount
- 11534
Utilities
- Heating system
- Forced Air
- Cooling system
- Central Air
Building Details
- Year built
- 1928
- Architectural style
- Other
Listing agent Steven D Leth (952) 484-7785
Listing office eXp Realty 4525 White Bear Parkway, White Bear Lake, MN (320) 500-4397
Listing date Oct 10, 2025
Copyright © 2026 Northstar MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
HighLights
- Six‑office commercial conversion with two waiting rooms for flexible live/work or business use
- Year built 1928 with forced‑air heating and central A/C
- Updated mechanicals include roof, furnace, and A/C
- Includes lower‑level kitchen and full bath
- Attached garage parking plus stamped concrete patio
- Zoned for live/work, business use, or single‑family reversion
Overview
Located at 233 Groveland Avenue in Minneapolis, the zoning is described as Business/Commercial with Residential-Single Family provisions, offering multiple pathways for occupancy. The listing notes downtown views, and the zoning framing supports operation as-is, leasing, repositioning for creative or professional use, or conversion back to residential.
For tenants, buyers, or owner-operators, the layout lends itself to an office user seeking multiple private rooms and waiting space, with basic support amenities provided on-site. For buyers evaluating flexible use, the stated live/work and single-family reversion zoning provides a practical framework to match the space to changing business or residential needs. Schedule a private showing to review the improvements and the intended operating plan.
Local Financial Insights For Office B
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $41.8k | $20.88 |
| − Vacancy | −$8.4k | −$4.22 |
| EGI | $33.3k | $16.66 |
| − OpEx | −$8.3k | −$4.17 |
| NOI | $25.0k | $12.50 |
Alternative Uses
Current Use by Public Records
Location Insight
- Map
- Local Demand
- City
- Minneapolis
- County
- Anoka
- State
- Minnesota
- Longitude
- -93.2824025
- Latitude
- 44.9643914
