Aðalstræti is Reykjavík's oldest street and lies at the heart of the small grid of streets that still bear echoes of its fishing village past. The name means Main Street, although it has its origins as a simple path, probably linking a farm at its southern end with the sea. That farm is thought to have been the home of Ingólfur Arnarson, the first Nordic settler in Iceland. As the town grew up around this area, , Aðalstræti became indeed its main street, and would have been lined with the homes of important residents, as well as the meeting house and the town’s main well, Ingólfsbrunnur (“Ingólfur’s well”), outside the present-day number 9.

The city’s oldest timber-house, Geysishúsið, is in this street at number 10 (see photo). It was built in 1762. Nearby, at the southern end of the street, is the Settlement Exhibition, which preserves the ruins of a 10th century Viking long house, along with objects and remains of human habitation believed to date from the 9th century settlement of Reykjavík.