3509 GRAND AVE S MINNEAPOLIS MN 55408

PID: 0302824320118

Property Overview

Parcel ID0302824320118

Lot Size5,622 sq ft (0.129 ac)

Lot Dimensions (est.)125 ft wide × 45 ft deep

Year Built1913

Property ClassAPARTMENT

Owner3509 GRAND AVENUE SOUTH LLC

Assessed Value$493,000

Land Value$139,500

Building Value$353,500

Annual Tax$9,363

Environmental Constraints

FloodplainNo

WetlandsNone detected

Historic DistrictNo

Development Opportunities

Potentially 4d-Eligible PropertyMedium

Property type suggests multifamily rental use — may qualify for the Minneapolis 4d program, which reduces property taxes to ~0.25% in exchange for affordability commitments. Requires 3+ units and a current rental license.

Minneapolis — 4d Affordable Housing Incentive ↗

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

Permit History

8 permits on record since 2021 · $44K total declared value · Most recent: Aug 2025 (roofwind)

RoofwindAug 2025Closed

$37K

SELA GUTTER CONNECTION

ComnofdbvJun 2022Closed

Farr Plumbing and Heating LLC

ResMar 2022Closed

CenterPoint Energy Resource Corp

ResMar 2022Closed

CenterPoint Energy Resource Corp

ResMar 2022Closed

CenterPoint Energy Resource Corp

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

Neighborhood Profile

Lyndale · Minneapolis

Median reported rent1,194/mo

Renter-occupied53.6%

Median home value$326K

Vacancy rate10.3%

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

Source: 2022 ACS 5-Year Estimates · Census Tract 1093

Market Snapshot

Zip code 55408

Median sale price$390K+6.8% YoY

Median price / sqft$243/sqft

Median days to close62 days

Active listings73

Source: Redfin Data Center (Invalid Date) · Zip 55408

Zoning

UN2Urban Neighborhood 2

Urban Neighborhood 2 — moderate-density residential

Typical Uses

·Duplexes
·Triplexes
·Small apartment buildings (≤4 units)

Max Height35 ft

Development Potential

Setbacks

Front20 ft

Side (each)5 ft

Rear20 ft

Estimated Buildable Footprint

Buildable width35 ft

Buildable depth85 ft

Area~2,971 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 small multifamily (2–4 units, wood frame) benchmarks for 2,971 sqft buildable area.

Est. units

Yield on cost

3.7%

Spread

-1.8%

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Nearby Parcels

Address	Owner	Class	Assessed Value	Distance
3511 GRAND AVE S MINNEAPOLIS MN 55408	ALEXANDRA GEGARE WILLI	CONDOMINIUM	$211,100	45 ft
3511 GRAND AVE S MINNEAPOLIS MN 55408	ZACHARY KOLSUM	CONDOMINIUM	$211,100	45 ft
3511 GRAND AVE S MINNEAPOLIS MN 55408	NADIA L HECKER-OBRIEN	CONDOMINIUM	$213,200	45 ft
3511 GRAND AVE S MINNEAPOLIS MN 55408	CLAIRE LEO & JOHN ECKERD	CONDOMINIUM	$213,200	45 ft
MN	Unknown	—	—	45 ft
3501 GRAND AVE S MINNEAPOLIS MN 55408	SOPHIE F SU & ETHAN C SMITH	RESIDENTIAL-TWO UNIT	$428,300	61 ft
315 35TH ST W MINNEAPOLIS MN 55408	ERIC HARRIS BERNSTEIN	RESIDENTIAL	$232,100	72 ft
3515 GRAND AVE S MINNEAPOLIS MN 55408	MUBARAK ALTHANI	RESIDENTIAL-TWO UNIT	$339,100	90 ft
3519 GRAND AVE S MINNEAPOLIS MN 55408	FRANCONIA ASSOCIATES LLC	APARTMENT	$669,000	135 ft
3506 PLEASANT AVE MINNEAPOLIS MN 55408	A R BRANT & J T JANEY	RESIDENTIAL-TWO UNIT	$529,300	136 ft

Property History

Most Recent Sale

Date202107

Price$555,000

TypeWARRANTY DEED

Current Tax Year

Year2026

Tax Due$9,363