650 OAK ST S E MINNEAPOLIS MN 55414

PID: 1902923320004

Property Overview

Parcel ID1902923320004

Lot Size73,869 sq ft (1.696 ac)

Lot Dimensions (est.)200 ft wide × 370 ft deep

Year Built0

Property ClassLAND-COMMERCIAL

OwnerU OF MINN

Assessed Value$0

Land Value$0

Building Value$0

Annual Tax$0

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

No permits found in Minneapolis open data for this parcel.

Neighborhood Profile

Prospect Park - East River Road · Minneapolis

Median reported rent1,696/mo

Renter-occupied100.0%

Median home value—

Vacancy rate4.3%

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

Source: 2022 ACS 5-Year Estimates · Census Tract 1049.01

Market Snapshot

Zip code 55414

Median sale price$385K+13.2% YoY

Median price / sqft$233/sqft

Median days to close91 days

Active listings36

Source: Redfin Data Center (Invalid Date) · Zip 55414

Zoning

RM3Residence and Institutional

Residential Mixed-Use 3 — higher-density mixed residential

Typical Uses

·High-density apartments
·Mixed-use buildings
·Ground-floor retail

Max Height95 ft

Development Potential

Setbacks

Front20 ft

Side (each)5 ft

Rear20 ft

Estimated Buildable Footprint

Buildable width244 ft

Buildable depth251 ft

Area~61,536 sqft

Estimates based on typical zoning setbacks. Actual requirements may vary by lot, overlay, or conditional approval.

Development Feasibility

Land value unavailable — feasibility estimate requires an assessed land value to calculate total development cost.

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Nearby Parcels

Address	Owner	Class	Assessed Value	Distance
640 OAK ST S E MINNEAPOLIS MN 55414	N S P CO	UTILITY	$2,250,800	215 ft
700 OAK ST S E MINNEAPOLIS MN 55414	BURLINGTON-NORTHERN INC	RAILROAD	$34,900	399 ft
705 OAK ST S E MINNEAPOLIS MN 55414	UNIVERSITY MN REGENTS	LAND - INDUSTRIAL	$0	513 ft
1 ADDRESS UNASSIGNED MINNEAPOLIS MN 00000	CITY OF MPLS	LAND - INDUSTRIAL	$0	617 ft
545 OAK ST S E MINNEAPOLIS MN 55414	UNIVERSITY OF MN REGENTS	LAND-COMMERCIAL	$0	639 ft
1 ADDRESS UNASSIGNED MINNEAPOLIS MN 00000	REGENTS OF UNIVERSITY MINN	LAND - INDUSTRIAL	$0	723 ft
1800 ELM ST S E MINNEAPOLIS MN 55414	B9 POLAR UNIVERSITY LLC	INDUSTRIAL-PREFERRED	$14,000,000	772 ft
2303 MARSHALL AVE S E MINNEAPOLIS MN 55414	GREAT NORTHERN RY CO	RAILROAD	$0	786 ft
1611 5TH ST S E MINNEAPOLIS MN 55455	UNIVERSITY OF MINNESOTA	LAND-COMMERCIAL	$0	816 ft
500 16TH AVE S E MINNEAPOLIS MN 55414	BURLINGTON-NORTHERN INC	RAILROAD	$14,800	832 ft

Property History

Current Tax Year

Year2026

Tax Due$0