3232 40TH ST E MINNEAPOLIS MN 55406

PID: 0702823220050

Property Overview

Parcel ID0702823220050

Lot Size76,437 sq ft (1.755 ac)

Lot Dimensions (est.)371 ft wide × 206 ft deep

Year Built1945

Property ClassINDUSTRIAL-PREFERRED

OwnerCHEMSTAR PRODUCTS COMPANY

Assessed Value$3,496,000

Land Value$1,100

Building Value$2,422,200

Annual Tax$95,433

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

3 permits on record since 2004 · $50K total declared value · Most recent: Sep 2017 (comnofdbv)

ComnofdbvSep 2017Closed

Norblom Plumbing Co

Building Re-inspectionNov 2014

Building Re-inspectionNov 2004

$50K

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

Neighborhood Profile

Howe · Minneapolis

Median reported rent1,127/mo

Renter-occupied37.3%

Median home value$308K

Vacancy rate0.0%

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

Source: 2022 ACS 5-Year Estimates · Census Tract 1104

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

CM3Community Mixed Use

Property History

Most Recent Sale

Date201405

Price$975,000

TypeOTHER – SEE CERTIFICATE OF REAL ESTATE VALUE (CRV)

Current Tax Year

Year2026

Tax Due$95,433

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
3230 40TH ST E MINNEAPOLIS MN 55406	SOO LINE R R	LAND - INDUSTRIAL	$27,400	162 ft
3226 40TH ST E MINNEAPOLIS MN 55406	LONGFELLOW STATION LTD PTRSP	LOW INCOME RENTAL	$146,400	218 ft
3928 SNELLING AVE MINNEAPOLIS MN 55406	JOYCE FLANDERS	RESIDENTIAL	$255,700	219 ft
3924 SNELLING AVE MINNEAPOLIS MN 55406	JENNIFER ANDERSON	RESIDENTIAL	$261,100	222 ft
3932 SNELLING AVE MINNEAPOLIS MN 55406	ASHLEY KIM/COREY JOSEPH BARR	RESIDENTIAL	$263,200	223 ft
3920 SNELLING AVE MINNEAPOLIS MN 55406	TRENTON BARTHOLF	RESIDENTIAL	$313,200	232 ft
3936 SNELLING AVE MINNEAPOLIS MN 55406	RAYMOND LEE PAHL	RESIDENTIAL	$278,500	234 ft
3916 SNELLING AVE MINNEAPOLIS MN 55406	MNSF T2 SPE LLC	RESIDENTIAL	$271,900	249 ft
3940 SNELLING AVE MINNEAPOLIS MN 55406	D & J MADAY	RESIDENTIAL	$177,400	251 ft
3961 HIAWATHA AVE MINNEAPOLIS MN 55406	NOR STATES POWER CO	UTILITY	$5,410,800	264 ft