2024 RIVERSIDE AVE MINNEAPOLIS MN 55454

PID: 2502924320001

Property Overview

Parcel ID2502924320001

Lot Size17,799 sq ft (0.409 ac)

Lot Dimensions (est.)106 ft wide × 167 ft deep

Year Built1999

Property ClassCOMMERCIAL-PREFERRED

OwnerUNIV 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

Cedar Riverside · Minneapolis

Median reported rent1,127/mo

Renter-occupied75.6%

Median home value$151K

Vacancy rate2.9%

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

Source: 2022 ACS 5-Year Estimates · Census Tract 1048.02

Market Snapshot

Zip code 55454

Median sale price$120K-48.7% YoY

Median price / sqft$79/sqft

Median days to close276 days

Active listings13

Source: Redfin Data Center (Invalid Date) · Zip 55454

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

Front Street

On corner lots, the selected street determines which setbacks apply to each side.

Setbacks

Front20 ft

Interior side5 ft

Street side (est.)15 ft

Rear20 ft

Estimated Buildable Footprint

Buildable width86 ft

Buildable depth127 ft

Area~10,460 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
2022 RIVERSIDE AVE MINNEAPOLIS MN 55454	UNIV OF MINN	LAND-COMMERCIAL	$0	73 ft
2019 5TH ST S MINNEAPOLIS MN 55454	STATE OF MINN	LAND-COMMERCIAL	$0	90 ft
2016 RIVERSIDE AVE MINNEAPOLIS MN 55454	REGENTS OF THE UNIV OF MINN	LAND-COMMERCIAL	$0	110 ft
501 21ST AVE S MINNEAPOLIS MN 55455	UNIV OF MINN	LAND-COMMERCIAL	$0	113 ft
428 21ST AVE S MINNEAPOLIS MN 55455	UNIV OF MINN	LAND-COMMERCIAL	$0	122 ft
505 21ST AVE S MINNEAPOLIS MN 55455	UNIV OF MINN	LAND-COMMERCIAL	$0	136 ft
507 21ST AVE S MINNEAPOLIS MN 55455	UNIV OF MINN	LAND-COMMERCIAL	$0	141 ft
525 21ST AVE S MINNEAPOLIS MN 55455	UNIV OF MINN	LAND-COMMERCIAL	$0	148 ft
2100 RIVERSIDE AVE MINNEAPOLIS MN 55454	UNIV OF MINN	LAND-COMMERCIAL	$0	160 ft
426 21ST AVE S MINNEAPOLIS MN 55455	UNIVERSITY OF MINN	LAND-COMMERCIAL	$0	171 ft

Property History

Current Tax Year

Year2026

Tax Due$0