2340 32ND ST E MINNEAPOLIS MN 55406

PID: 0102824210122

Property Overview

Parcel ID0102824210122

Lot Size112,334 sq ft (2.579 ac)

Lot Dimensions (est.)350 ft wide × 321 ft deep

Year Built2016

Property ClassLOW INCOME RENTAL

OwnerCORCORAN TRIANGLE LTD PRTSHP

Assessed Value$18,138,000

Land Value$1,389,400

Building Value$16,748,600

Annual Tax$71,546

Environmental Constraints

FloodplainNo

WetlandsNone detected

Historic DistrictNo

Development Opportunities

High-Frequency Transit (5-min walk)High

Within a 5-minute walk of a high-frequency LRT or BRT stop — a positive factor for density bonuses and Met Council Livable Communities grant scoring.

Metro Council — Livable Communities ↗

Potential programs

Met Council Livable Communities GrantMedium

Competitive grants for affordable housing and transit-oriented development near high-frequency transit; proximity to LRT/BRT is a key scoring factor.

Metro Council — Livable Communities ↗

Signals are based on public datasets; program eligibility requires verification.

Permit History

1 permit on record since 2021 · Most recent: Dec 2021 (comnofdbv)

ComnofdbvDec 2021Closed

Jayhawk Mechanical Inc

Source: Minneapolis open data. Declared construction values are applicant-reported and may not reflect actual project cost.

Neighborhood Profile

Corcoran · Minneapolis

Median reported rent1,426/mo

Renter-occupied41.7%

Median home value$261K

Vacancy rate3.7%

ACS rents reflect current tenant leases and may differ from new market rents.

Source: 2022 ACS 5-Year Estimates · Census Tract 1087

Market Snapshot

Zip code 55406

Median sale price$340K+3.0% YoY

Median price / sqft$248/sqft

Median days to close21 days

Active listings39

Source: Redfin Data Center (Invalid Date) · Zip 55406

Zoning

UN3Urban Neighborhood 3

Urban Neighborhood 3 — medium-density residential

Typical Uses

·Apartment buildings
·Mixed-use with neighborhood retail

Max Height50 ft

Development Potential

Front Street

On corner lots, the selected street determines which setbacks apply to each side.

Setbacks

Front20 ft

Interior side5 ft

Street side (est.)10 ft

Rear20 ft

Estimated Buildable Footprint

Buildable width335 ft

Buildable depth281 ft

Area~95,507 sqft

Estimates based on typical zoning setbacks. Actual requirements may vary by lot, overlay, or conditional approval.

Development Feasibility

Likely Infeasible

Back-of-envelope estimate based on 3-story wood frame (5–12 units) benchmarks for 95,507 sqft buildable area.

Est. units

337

Yield on cost

4.3%

Spread

-1.2%

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Nearby Parcels

Address	Owner	Class	Assessed Value	Distance
3146 24TH AVE S MINNEAPOLIS MN 55406	SIMON SANCHEZ SR	RESIDENTIAL	$306,700	213 ft
2318 32ND ST E MINNEAPOLIS MN 55406	L R SERRANO & C P LAREDO	RESIDENTIAL	$251,100	221 ft
3133 23RD AVE S MINNEAPOLIS MN 55407	B & P MORGAN	RESIDENTIAL	$183,900	233 ft
3139 23RD AVE S MINNEAPOLIS MN 55407	CHERYL RENEE HOVDE	RESIDENTIAL	$195,400	234 ft
2314 32ND ST E MINNEAPOLIS MN 55406	DARYL WARE	RESIDENTIAL	$265,000	238 ft
3143 23RD AVE S MINNEAPOLIS MN 55407	M TANGEN & C A TANGEN	RESIDENTIAL	$280,900	244 ft
3129 23RD AVE S MINNEAPOLIS MN 55407	FAMILY TRUST/H M OLSON TRUST	APARTMENT	$1,026,000	244 ft
3123 23RD AVE S MINNEAPOLIS MN 55407	3123 LIMITED LIABILITY CO	LOW INCOME RENTAL	$1,139,000	263 ft
3149 23RD AVE S MINNEAPOLIS MN 55407	IAN G LEASK	RESIDENTIAL-TWO UNIT	$263,100	282 ft
3153 23RD AVE S MINNEAPOLIS MN 55407	J M ROHRER & M E ROHRER	RESIDENTIAL	$243,600	305 ft

Property History

Current Tax Year

Year2026

Tax Due$71,546