905 4th Avenue S Ave - Gethsemane Episcopal Church 27,000 SF Specialty Building Offered at $1,931,291 CAD at a 1% Cap Rate in Minneapolis, MN 55404

Gethsemane Episcopal Church presents a rare opportunity to acquire an architecturally significant downtown Minneapolis church property with adaptive reuse and redevelopment potential. The property is located at 905 4th Ave S at the signalized corner of 4th Avenue South and South 9th Street in the Minneapolis CBD. The site contains approximately 18,595 SF of land (0.43 acres) and an approximately 26,000 SF masonry building with sanctuary, offices, meeting rooms, gymnasium, commercial kitchen, and other supportive space. The property is three stories, tax-exempt, and currently vacant.
This is not a generic church listing. The property occupies a highly visible gateway position at the edge of downtown in the DT1 Downtown Center District. Seller materials describe it as one of the last largely untouched blocks in this immediate area, with nearby parcels reportedly controlled by a willing adjacent seller, creating a potential future block-assembly conversation for the right buyer. Buyers should investigate any adjacent assembly opportunity independently.
The church itself is listed on the National Register of Historic Places and is also locally designated historic according to the appraisal materials. That status is a major part of the opportunity and a major part of the underwriting. It is not a blank-slate scrape. Buyers pursuing preservation-minded redevelopment, institutional reuse, arts/education programming, worship/community use, or a Historic Tax Credit strategy may see value here that a generic user will not. The attached pitch materials specifically frame the church as preserved / HTC-eligible, and the seller has expressed interest in mission-aligned outcomes where possible.
At the same time, buyers should go in with their eyes open. The appraisal notes that the south/education wing has split-level access and no elevators, and seller pitch materials estimate that this portion may require roughly $2M to bring to code / ADA depending on the ultimate use plan. There is also effectively zero-lot-line development and no on-site parking. Those factors will matter. This is best suited for a buyer who understands historic urban product, adaptive reuse, institutional occupancy, or a phased redevelopment approach rather than a light cosmetic repositioning.
Potential pathways suggested in the marketing materials include affordable or senior housing with community services, education or arts-based reuse, hybrid community-and-housing concepts, worship/community use, boutique hospitality, mixed-use residential/retail, or office/studio concepts, all subject to buyer verification, design work, historic review, and governmental approvals. The appraisal identifies highest and best use as vacant as immediate commercial or mixed-use development, while highest and best use as improved is continued specialty use. That tension is exactly what makes this property interesting: it offers real upside, but only to the right buyer with the right plan.
The appraisal was prepared for internal decision-making and included several extraordinary assumptions, including assumptions around demolition/modification and possible site bifurcation. Public marketing should therefore treat those appraisal scenarios as directional rather than guaranteed. What is clear from the materials is that this is a distinctive downtown site with strong identity, meaningful adaptive reuse potential, and a niche buyer pool. Local owner-users, nonprofit institutions, arts/education organizations, mission-driven developers, and experienced historic redevelopment groups are the most logical candidates.
Qualified buyers are encouraged to conduct their own independent investigation regarding zoning, historic restrictions, tax credit eligibility, building condition, code requirements, parking strategy, ADA, and development feasibility. Seller will welcome serious inquiries and thoughtful proposals.
The Episcopal Church in Minnesota may be willing to offer significant seller concessions, flexible deal terms, or seller financing to qualified buyers whose vision demonstrates strong mission alignment and a positive long-term community outcome.