Duplex with Ground-Level
2635 Pillsbury Avenue S, Minneapolis, MN 55408
For Sale
$520,000
Residential Income, Minneapolis, MN
Property Size2,935 SF
Lot Size0.11 Acres
Price / SF$177.17
Days on Market95
Property Features for 2635 Pillsbury Avenue S
General Information
Property type
Property subtype
Zoning description
Bedrooms
Bathrooms
Full bathrooms
Rooms
Parking features
Subdivision
High school district
Directions
Standard status
APN
Size
Lot size
Additional Details
Tenant in Place
Taxes and HOA fees
Tax Year
Tax Annual Amount
Utilities
Heating system
Building Details
Year built
Listing Agency:
Real Broker, LLC
(855) 450-0442
Listed By:
Cj Smith
(612) 600-6000
Added: Aug 13
Changed: Nov 13
Last Checked: Nov 15 at 5:06PM
MLS# 7126850
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.
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Investment Insights
Based on property information with market context.
This South Minneapolis duplex contains two residential units and a furnished, ground-level nonconforming studio. The main building offers 2,935 square feet, and the property sits on a 0.11-acre lot. One of the two main units is leased month-to-month; both are tenant occupied. The studio is vacant. A detached, oversized two-car garage provides on-site parking. The building dates to 1900 and has hot water heating.
Restaurants, shops, and transit are nearby in South Minneapolis.
Restaurants, shops, and transit are nearby in South Minneapolis.
Key Highlights
- Two residential units plus a furnished, ground‑level nonconforming studio
- 2,935 square feet on a 0.11‑acre lot
- Both main units are tenant occupied; one is month‑to‑month
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$42,882
Cap Rate
8.25%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$857,640
$857.6K
Cap Rate 7%
$612,600
$612.6K
Cap Rate 9%
$476,467
$476.5K
Market Conditions
NOI Build-Up for 2,935 SF
Gross rent
$65.2K $22.20/SF
− Vacancy
−$3.9K −$1.33/SF
EGI
$61.3K $20.87/SF
− OpEx
−$18.4K −$6.26/SF
NOI
$42.9K $14.61/SF
Area
Minneapolis, MN
Vacancy
5.98%
Lease Rate
$22.20 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$857,640
Cap Rate 7%
$612,600
Cap Rate 9%
$476,467
Alternative Uses
Best Use
Multifamily LT 5
$612.6K
$536.0K – $714.7K
NOI $42,882 @ 7.0% cap · market cap 8.25%
Second Best
Apartment 5plus
$562.7K
$492.3K – $656.5K
NOI $39,387 @ 7.0% cap · market cap 7.57%
Theoretical Best
Office A
$700.2K
$612.7K – $816.9K
NOI $49,016 @ 7.0% cap · market cap 9.43%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
3,002
Businesses Nearby
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Business Placement
Demographics for 55408, MN
33,718
Population
17,874
Households
1.9
Avg Household Size
30
Median Age
59%
College-Educated
91%
High-School Grad
2.7 sq mi
ZIP Area
12,488
Density / Sq Mi
$72,421
Median Household Income
$49,753
Median Earnings
$1,385
Median Rent
$387,500
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Average Price Trend$/SF for Duplexes in Minneapolis, MN
Properties on Market for Duplexes in Minneapolis
Vacancy Rate% for Multifamily in Midwest region
Frequently Asked Questions
What type of property is this?
Duplex - Two main residences are occupied, while the furnished studio is vacant.
Where is this duplex located?
The property is located at 2635 Pillsbury Avenue S Minneapolis, MN.
What is the asking price?
The asking price for this property is $520,000.
What are key features of this property?
This property features: Two residential units plus a furnished, ground‑level nonconforming studio; 2,935 square feet on a 0.11‑acre lot; Both main units are tenant occupied; one is month‑to‑month
