Penthouse Corner Unit with
For Sale
$460,000
317 Groveland Avenue #705, Minneapolis, MN 55403
Penthouse with views, open floor plan, and heated parking.
Property Size1,404 SF
Price / SF$327.64
Days on Market421
Property Features for 317 Groveland Avenue #705
General Information
Standard status
Active
Size
1,404 SF
Property subtype
Condominium
Amenities
Fireplace
Security System
Forced Air
Central Air
Disposal
Exhaust Fan
Freezer
Dryer
Microwave
Dishwasher
Cooktop
Refrigerator
Washer
Range
Deck, Flat, Shingle, Tar/Gravel
Building Details
Building Size
1,404 SF
Year Built
2006
Listing Agency:
Keller Williams North Suburban
Listed By:
Zach Moore · License #40445632
(651) 808-0192
Source:
Kw
Added: Aug 26, 2025
Changed: Oct 5
Last Checked: Oct 19 at 3:48AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Keller Williams North Suburban
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Investment Insights
Based on property information with market context.
This penthouse corner unit offers elevated living with 10-foot ceilings, two bedrooms, and two bathrooms. The interior features cherry cabinets, hardwood floors, and expansive floor-to-ceiling windows that provide natural sunlight. Unique light fixtures are present throughout the unit. A large outdoor balcony, accessible from the primary bedroom, offers views of the plaza, fountains, and Loring Park. The open-concept floor plan integrates the kitchen, dining room, and living room. Located on the 7th floor, elevator code access provides additional security. Building amenities include a party room, a plaza, and a designated dog area. The property includes two heated underground parking spots, a private EV charging station, and two storage units. Additional building amenities feature exercise rooms, guest parking, and a rooftop balcony with views of the Minneapolis skyline. The Groveland's location provides access to freeways and public transportation, placing it near Loring Park, the Walker Art Center, the Minneapolis Sculpture Garden, the Minneapolis lakes, restaurants, entertainment venues, and the Minneapolis Convention Center. The property size is 1404 square feet.
Key Highlights
- Penthouse corner unit with breathtaking views of the plaza, fountains, and Loring Park.
- Two heated underground parking spots and private EV charging station.
- Prime location with easy access to freeways, public transportation, Loring Park, Walker Art Center, and other attractions.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$18,841
Cap Rate
4.10%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$376,820
$376.8K
Cap Rate 7%
$269,157
$269.2K
Cap Rate 9%
$209,344
$209.3K
Market Conditions
NOI Build-Up for 1,404 SF
Gross rent
$36.6K $26.04/SF
− Vacancy
−$2.3K −$1.64/SF
EGI
$34.3K $24.40/SF
− OpEx
−$15.4K −$10.98/SF
NOI
$18.8K $13.42/SF
Area
Minneapolis, MN
Vacancy
6.30%
Lease Rate
$26.04 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$376,820
Cap Rate 7%
$269,157
Cap Rate 9%
$209,344
Alternative Uses
Best Use
Apartment 5plus
$269.2K
$235.5K – $314.0K
NOI $18,841 @ 7.0% cap · market cap 4.10%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$335.0K
$293.1K – $390.8K
NOI $23,448 @ 7.0% cap · market cap 5.10%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Open Analytics
Location Intelligence
Trade Area within ½ mile
3,125
Businesses Nearby
Explore this area
Business Placement
Demographics for 55403, MN
17,707
Population
12,906
Households
1.4
Avg Household Size
35
Median Age
59%
College-Educated
96%
High-School Grad
1.4 sq mi
ZIP Area
12,648
Density / Sq Mi
$59,928
Median Household Income
$50,876
Median Earnings
$1,199
Median Rent
$285,200
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Midwest region
Frequently Asked Questions
What type of property is this?
Apartment building - Penthouse with views, open floor plan, and heated parking.
Where is this apartment building located?
The property is located at 317 Groveland Avenue #705 Minneapolis, MN.
What is the asking price?
The asking price for this property is $460,000.
What are key features of this property?
This property features: Penthouse corner unit with **breathtaking views** of the plaza, fountains, and Loring Park.; Two heated underground parking spots and **private EV charging station**.; Prime location with easy access to freeways, public transportation, Loring Park, Walker Art Center, and other attractions.
