3016 BLOOMINGTON AVE MINNEAPOLIS MN 55407

PID: 0202824120277

Property Overview

Parcel ID0202824120277

Lot Size29,794 sq ft (0.684 ac)

Lot Dimensions (est.)125 ft wide × 237 ft deep

Year Built1901

Property ClassCOMMERCIAL-PREFERRED

OwnerMERCADO CENTRAL LLC

Assessed Value$2,650,000

Land Value$504,500

Building Value$2,145,500

Annual Tax$108,573

Environmental Constraints

FloodplainNo

WetlandsNone detected

Historic DistrictNo

Development Opportunities

Qualified Census Tract (QCT)High

Within a HUD-designated Qualified Census Tract — LIHTC projects here receive a 30% basis boost, significantly increasing the tax credit allocation for affordable housing development.

HUD — LIHTC Qualified Census Tracts ↗

Potential programs

LIHTC 30% Basis BoostMedium

Affordable housing developments in QCTs receive a 30% increase in eligible basis for Low Income Housing Tax Credits — materially improving project feasibility. Allocated through MHFA.

HUD — LIHTC Qualified Census Tracts ↗

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

Permit History

6 permits on record since 2007 · $749K total declared value · Most recent: Aug 2022 (remodel)

RemodelAug 2022Closed

$52K

(Solar Work) Apadana LLC

RoofwindJul 2021Closed

$109K

BAIRES CONSTRUCTION

Commercial Fire/Building ViolationJun 2019Closed

Elias Plumbing LLC

RemodelJun 2019Closed

$8K

MERCADO CENTRAL LLC

RemodelMay 2018Closed

$140K

SHAW LUNDQUIST ASSOCS

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

Neighborhood Profile

Powderhorn Park · Minneapolis

Median reported rent1,157/mo

Renter-occupied51.4%

Median home value$305K

Vacancy rate5.2%

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

Source: 2022 ACS 5-Year Estimates · Census Tract 85

Market Snapshot

Zip code 55407

Median sale price$335K-6.9% YoY

Median price / sqft$215/sqft

Median days to close18 days

Active listings78

Source: Redfin Data Center (Invalid Date) · Zip 55407

Zoning

CM2Corridor Mixed Use

Property History

Current Tax Year

Year2026

Tax Due$108,573

Development Feasibility

No buildable area could be estimated under current zoning setbacks. The lot may be too small or the setbacks consume the entire parcel.

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Nearby Parcels

Address	Owner	Class	Assessed Value	Distance
3013 15TH AVE S MINNEAPOLIS MN 55407	OCAMPO PLAZA LLC	LAND-COMMERCIAL	$26,200	94 ft
1509 LAKE ST E MINNEAPOLIS MN 55407	LOPEZ REAL ESTATE LLC	COMMERCIAL-PREFERRED	$449,000	114 ft
3024 BLOOMINGTON AVE MINNEAPOLIS MN 55407	FILIBERTO ONOFRE	RESIDENTIAL-TWO UNIT	$247,800	135 ft
3017 15TH AVE S MINNEAPOLIS MN 55407	OCAMPO PLAZA LLC	LAND-COMMERCIAL	$94,500	146 ft
1507 LAKE ST E MINNEAPOLIS MN 55407	OCAMPO PLAZA LLC	COMMERCIAL-PREFERRED	$573,000	149 ft
3013 15TH AVE S MINNEAPOLIS MN 55407	OCAMPO PLAZA LLC	LAND-COMMERCIAL	$55,700	156 ft
3021 15TH AVE S MINNEAPOLIS MN 55407	OCAMPO PLAZA LLC	LAND-COMMERCIAL	$94,500	167 ft
3028 BLOOMINGTON AVE MINNEAPOLIS MN 55407	SAMUEL PLASCENCIA	LOW INCOME RENTAL	$221,100	172 ft
1501 LAKE ST E MINNEAPOLIS MN 55407	OCAMPO PLAZA LLC	COMMERCIAL-PREFERRED	$1,020,000	188 ft
3025 15TH AVE S MINNEAPOLIS MN 55407	PN17 LLC	RESIDENTIAL-TWO UNIT	$234,900	191 ft