5000 NICOLLET AVE MINNEAPOLIS MN 55419

PID: 1502824310149

Property Overview

Parcel ID1502824310149

Lot Size17,580 sq ft (0.404 ac)

Lot Dimensions (est.)141 ft wide × 125 ft deep

Year Built1902

Property ClassRESIDENTIAL

OwnerJ W RICHARDSON & C M TURKE

Assessed Value$639,600

Land Value$251,000

Building Value$388,600

Annual Tax$10,733

Environmental Constraints

FloodplainNo

WetlandsNone detected

Historic DistrictUnknown

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

2 permits on record since 2019 · Most recent: Aug 2023 (existres)

ExistresAug 2023Closed

BURNOMATIC

ExistresNov 2019Closed

Erickson Plumbing Heating Cooling Inc

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

Neighborhood Profile

Minneapolis

Median reported rent1,486/mo

Renter-occupied21.5%

Median home value$519K

Vacancy rate7.9%

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

Source: 2022 ACS 5-Year Estimates · Census Tract 1115

Market Snapshot

Zip code 55419

Median sale price$494K-4.7% YoY

Median price / sqft$270/sqft

Median days to close29 days

Active listings30

Source: Redfin Data Center (Invalid Date) · Zip 55419

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 width126 ft

Buildable depth85 ft

Area~10,714 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 10,714 sqft buildable area.

Est. units

Yield on cost

4.2%

Spread

-1.3%

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Nearby Parcels

Address	Owner	Class	Assessed Value	Distance
5014 NICOLLET AVE MINNEAPOLIS MN 55419	C J WHITING & K R LAW	RESIDENTIAL-ZERO LOT LINE	$382,800	80 ft
5016 NICOLLET AVE MINNEAPOLIS MN 55419	DEBRA D THOMPSON	RESIDENTIAL-ZERO LOT LINE	$329,500	106 ft
5001 BELMONT AVE S MINNEAPOLIS MN 55419	CHARLES E & MARY K CROWLEY	RESIDENTIAL	$690,600	143 ft
5020 NICOLLET AVE MINNEAPOLIS MN 55419	BEARPRINT PROPERTIES LLC	RESIDENTIAL-TWO UNIT	$542,900	146 ft
5005 BELMONT AVE S MINNEAPOLIS MN 55419	JANE F ROSEMARIN REV TRUST	RESIDENTIAL	$687,900	186 ft
5024 NICOLLET AVE MINNEAPOLIS MN 55419	OSWALDO E AREVALO FARFAN	RESIDENTIAL-TWO UNIT	$533,900	199 ft
5015 NICOLLET AVE MINNEAPOLIS MN 55419	MICHELE ZAVORAL	RESIDENTIAL	$335,300	206 ft
5009 NICOLLET AVE MINNEAPOLIS MN 55419	STEPHEN K GRIESGRABER	RESIDENTIAL	$341,000	210 ft
5021 NICOLLET AVE MINNEAPOLIS MN 55419	RYNE M VAN HORN	RESIDENTIAL	$307,400	214 ft
1 50TH ST E MINNEAPOLIS MN 55419	D R CONROY & M K CONROY	RESIDENTIAL	$901,000	227 ft

Property History

Most Recent Sale

Date198503

Price$119,000

TypeOTHER – SEE CERTIFICATE OF REAL ESTATE VALUE (CRV)

Current Tax Year

Year2026

Tax Due$10,733