3725 45TH ST E MINNEAPOLIS MN 55406

PID: 0702823340040

Property Overview

Parcel ID0702823340040

Lot Size3,842 sq ft (0.088 ac)

Lot Dimensions (est.)74 ft wide × 52 ft deep

Year Built1908

Property ClassCOMMERCIAL-PREFERRED

OwnerPETER L SCHOW/MITCH LACOMBE

Assessed Value$129,000

Land Value$107,800

Building Value$21,200

Annual Tax$2,850

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 2019 · $9K total declared value · Most recent: Jun 2019 (misc)

MiscJun 2019Closed

$9K

Nokomis Knoll Construction LLC

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

Neighborhood Profile

Hiawatha · Minneapolis

Median reported rent1,554/mo

Renter-occupied38.8%

Median home value$306K

Vacancy rate5.9%

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

Source: 2022 ACS 5-Year Estimates · Census Tract 1105

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

Setbacks

Front20 ft

Side (each)5 ft

Rear20 ft

Estimated Buildable Footprint

Buildable width33 ft

Buildable depth49 ft

Area~1,643 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 1,643 sqft buildable area.

Est. units

Yield on cost

3.2%

Spread

-2.3%

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Nearby Parcels

Address	Owner	Class	Assessed Value	Distance
3719 45TH ST E MINNEAPOLIS MN 55406	KK-FOUR CORPORATION	VACANT LAND-RESIDENTIAL	$98,000	41 ft
4500 SNELLING AVE MINNEAPOLIS MN 55406	MARC BAUGHN	RESIDENTIAL	$220,800	54 ft
4508 SNELLING AVE MINNEAPOLIS MN 55406	KK-FOUR CORPORATION	RESIDENTIAL	$82,000	70 ft
3715 45TH ST E MINNEAPOLIS MN 55406	MICHAEL SEAL & SARA SEAL	RESIDENTIAL	$345,400	96 ft
4510 SNELLING AVE MINNEAPOLIS MN 55406	KK-FOUR CORPORATION	RESIDENTIAL	$207,000	109 ft
3711 45TH ST E MINNEAPOLIS MN 55406	JEANNE NOVAK	RESIDENTIAL	$210,400	143 ft
4512 SNELLING AVE MINNEAPOLIS MN 55406	KK-FOUR CORPORATION	RESIDENTIAL	$288,700	149 ft
4516 SNELLING AVE MINNEAPOLIS MN 55406	KK-FOUR CORPORATION	RESIDENTIAL	$245,000	188 ft
4455 SNELLING AVE MINNEAPOLIS MN 55406	RASHID NASIM	RESIDENTIAL	$260,900	215 ft
4524 SNELLING AVE MINNEAPOLIS MN 55406	KK-FIVE CORPORATION	VACANT LAND-RESIDENTIAL	$115,000	229 ft

Property History

Most Recent Sale

Date198611

Price$15,000

TypeOTHER – SEE CERTIFICATE OF REAL ESTATE VALUE (CRV)

Current Tax Year

Year2026

Tax Due$2,850