5516 NICOLLET AVE MINNEAPOLIS MN 55419

PID: 2202824210097

Property Overview

Parcel ID2202824210097

Lot Size6,368 sq ft (0.146 ac)

Lot Dimensions (est.)127 ft wide × 50 ft deep

Year Built1947

Property ClassAPARTMENT

OwnerJOHN R BRANDEL

Assessed Value$581,500

Land Value$127,000

Building Value$454,500

Annual Tax$11,001

Environmental Constraints

FloodplainNo

WetlandsNone detected

Historic DistrictNo

Development Opportunities

Potentially 4d-Eligible PropertyMedium

Property type suggests multifamily rental use — may qualify for the Minneapolis 4d program, which reduces property taxes to ~0.25% in exchange for affordability commitments. Requires 3+ units and a current rental license.

Minneapolis — 4d Affordable Housing Incentive ↗

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

Permit History

1 permit on record since 2024 · $36K total declared value · Most recent: Mar 2024 (misc)

MiscMar 2024Closed

$36K

MINNESOTA EXTERIORS INC

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

Neighborhood Profile

Windom · 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

RM1Residence Goods and Services

Residential Mixed-Use 1 — low-density mixed residential

Typical Uses

·Apartments
·Townhomes
·Neighborhood-scale retail on ground floor

Max Height45 ft

Development Potential

Setbacks

Front20 ft

Side (each)5 ft

Rear20 ft

Estimated Buildable Footprint

Buildable width40 ft

Buildable depth87 ft

Area~3,493 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 3,493 sqft buildable area.

Est. units

Yield on cost

4.1%

Spread

-1.4%

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Nearby Parcels

Address	Owner	Class	Assessed Value	Distance
5512 NICOLLET AVE MINNEAPOLIS MN 55419	MADELEINE/BODINE FIN ASSOC	APARTMENT	$581,500	50 ft
5524 NICOLLET AVE MINNEAPOLIS MN 55419	KIANDIA LLC	COMMERCIAL-PREFERRED	$365,600	50 ft
5508 NICOLLET AVE MINNEAPOLIS MN 55419	MATTHEW J BERSCHEID	APARTMENT	$581,500	100 ft
5528 NICOLLET AVE MINNEAPOLIS MN 55419	ZACHARY WALEN & ANNE WALEN	RESIDENTIAL	$311,800	100 ft
5502 NICOLLET AVE MINNEAPOLIS MN 55419	HENNEPIN FORFEITED LAND	VACANT LAND-RESIDENTIAL	$0	125 ft
5517 BLAISDELL AVE MINNEAPOLIS MN 55419	B SHEPLEY & E SHEPLEY	RESIDENTIAL	$341,000	127 ft
5513 BLAISDELL AVE MINNEAPOLIS MN 55419	TAMMY CAROLINE BEUTHIEN	RESIDENTIAL	$348,500	136 ft
5525 BLAISDELL AVE MINNEAPOLIS MN 55419	RENITA FAYE	RESIDENTIAL	$440,900	137 ft
5532 NICOLLET AVE MINNEAPOLIS MN 55419	TLC HARDON LLC	APARTMENT	$633,900	153 ft
5529 BLAISDELL AVE MINNEAPOLIS MN 55419	ERIC M KOZAR	RESIDENTIAL	$326,700	160 ft

Property History

Most Recent Sale

Date200005

Price$194,500

TypePROBATE DEED

Current Tax Year

Year2026

Tax Due$11,001