700 XERXES AVE N MINNEAPOLIS MN 55411

PID: 2002924130045

Property Overview

Parcel ID2002924130045

Lot Size147,144 sq ft (3.378 ac)

Lot Dimensions (est.)491 ft wide × 299 ft deep

Year Built0

Property ClassRAILROAD

OwnerSOO LINE RAILROAD CO

Assessed Value$651,100

Land Value$651,100

Building Value$0

Annual Tax$22,494

Environmental Constraints

FloodplainYes — Zone AE

WetlandsPresent (~100% coverage)

Historic DistrictNo

Development Opportunities

Area of Concentrated PovertyHigh

In an ACP50 area — a Minneapolis priority designation that increases scoring for Great Streets gap financing, Affordable Housing Trust Fund, and other CPED programs.

Minneapolis — Affordable Housing Trust Fund ↗

Potential programs

Great Streets Gap FinancingMedium

Below-market loans for commercial real estate development and rehabilitation on eligible corridors; priority given to Green Zone and ACP50 locations.

Minneapolis Great Streets — Gap Financing ↗

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

Permit History

No permits found in Minneapolis open data for this parcel.

Neighborhood Profile

Willard - Hay · Minneapolis

Median reported rent1,203/mo

Renter-occupied33.4%

Median home value$254K

Vacancy rate1.0%

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

Source: 2022 ACS 5-Year Estimates · Census Tract 32

Market Snapshot

Zip code 55411

Median sale price$243K-2.9% YoY

Median price / sqft$140/sqft

Median days to close40 days

Active listings67

Source: Redfin Data Center (Invalid Date) · Zip 55411

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 width481 ft

Buildable depth259 ft

Area~101,267 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 101,267 sqft buildable area.

Est. units

225

Yield on cost

4.3%

Spread

-1.2%

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Nearby Parcels

Address	Owner	Class	Assessed Value	Distance
2901 8TH AVE N MINNEAPOLIS MN 55411	GR NORTH RY CO	RAILROAD	$0	158 ft
2823 8TH AVE N MINNEAPOLIS MN 55411	TIM M RIVARD	RESIDENTIAL	$240,000	208 ft
600 XERXES AVE N MINNEAPOLIS MN 55411	CITY OF MINNEAPOLIS PK BOARD	VACANT LAND-RESIDENTIAL	$0	248 ft
2819 8TH AVE N MINNEAPOLIS MN 55411	ANTHONY T WARE	RESIDENTIAL	$161,000	251 ft
2815 8TH AVE N MINNEAPOLIS MN 55411	ELSA C MARIA FREUDENTHAL	RESIDENTIAL	$363,000	296 ft
801 WASHBURN AVE N MINNEAPOLIS MN 55411	HENNEPIN FORFEITED LAND	VACANT LAND-RESIDENTIAL	$0	315 ft
711 VINCENT AVE N MINNEAPOLIS MN 55411	KEVIN ARMEL MARTIN	RESIDENTIAL	$198,000	322 ft
800 WASHBURN AVE N MINNEAPOLIS MN 55411	T D WYNIA & E A HANSON	RESIDENTIAL	$277,500	336 ft
717 VINCENT AVE N MINNEAPOLIS MN 55411	ADAM A ARAKAWA	RESIDENTIAL	$264,700	339 ft
707 VINCENT AVE N MINNEAPOLIS MN 55411	GLENN WILLARD ERNST	RESIDENTIAL	$153,000	339 ft

Property History

Current Tax Year

Year2026

Tax Due$22,494