2016 RIVERSIDE AVE MINNEAPOLIS MN 55454

PID: 2502924320070

Property Overview

Parcel ID2502924320070

Lot Size3,524 sq ft (0.081 ac)

Lot Dimensions (est.)33 ft wide × 106 ft deep

Year Built0

Property ClassLAND-COMMERCIAL

OwnerREGENTS OF THE UNIV 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

Setbacks

Front20 ft

Side (each)5 ft

Rear20 ft

Estimated Buildable Footprint

Buildable width28 ft

Buildable depth53 ft

Area~1,460 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
2019 5TH ST S MINNEAPOLIS MN 55454	STATE OF MINN	LAND-COMMERCIAL	$0	38 ft
2022 RIVERSIDE AVE MINNEAPOLIS MN 55454	UNIV OF MINN	LAND-COMMERCIAL	$0	54 ft
2002 RIVERSIDE AVE MINNEAPOLIS MN 55454	UNIV OF MINN	LAND-COMMERCIAL	$0	74 ft
2024 RIVERSIDE AVE MINNEAPOLIS MN 55454	UNIV OF MINN	COMMERCIAL-PREFERRED	$0	110 ft
428 21ST AVE S MINNEAPOLIS MN 55455	UNIV OF MINN	LAND-COMMERCIAL	$0	136 ft
2018 5TH ST S MINNEAPOLIS MN 55454	UNIVERSITY OF MINN	LAND-COMMERCIAL	$0	156 ft
2016 5TH ST S MINNEAPOLIS MN 55454	UNIV OF MINN	LAND-COMMERCIAL	$0	160 ft
2020 5TH ST S MINNEAPOLIS MN 55454	UNIV OF MINN	LAND-COMMERCIAL	$0	160 ft
2012 5TH ST S MINNEAPOLIS MN 55454	UNIV OF MINN	LAND-COMMERCIAL	$0	170 ft
426 21ST AVE S MINNEAPOLIS MN 55455	UNIVERSITY OF MINN	LAND-COMMERCIAL	$0	173 ft

Property History

Current Tax Year

Year2026

Tax Due$0