2323 RIVERSIDE AVE MINNEAPOLIS MN 55454

PID: 2502924340091

Property Overview

Parcel ID2502924340091

Lot Size58,666 sq ft (1.347 ac)

Lot Dimensions (est.)206 ft wide × 285 ft deep

Year Built1974

Property ClassCOMMERCIAL-PREFERRED

OwnerAUGSBURG UNIVERSITY

Assessed Value$0

Land Value$0

Building Value$0

Annual Tax$4,995

Environmental Constraints

FloodplainNo

WetlandsNone detected

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 ↗

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

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 ↗

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 width223 ft

Buildable depth212 ft

Area~47,078 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.

Loading map…

Nearby Parcels

Address	Owner	Class	Assessed Value	Distance
2319 RIVERSIDE AVE MINNEAPOLIS MN 55454	AUGSBURG UNIVERSITY	LAND-COMMERCIAL	$0	103 ft
2315 RIVERSIDE AVE MINNEAPOLIS MN 55454	AUGSBURG UNIVERSITY	LAND-COMMERCIAL	$0	132 ft
2321 RIVERSIDE AVE MINNEAPOLIS MN 55454	AUGSBURG UNIVERSITY	LAND-COMMERCIAL	$0	144 ft
2323 RIVERSIDE AVE MINNEAPOLIS MN 55454	AUGSBURG COLLEGE	LAND-COMMERCIAL	$0	152 ft
2317 RIVERSIDE AVE MINNEAPOLIS MN 55454	AUGSBURG UNIVERSITY	LAND-COMMERCIAL	$0	163 ft
709 23RD AVE S MINNEAPOLIS MN 55454	AUGSBURG UNIVERSITY	COMMERCIAL-PREFERRED	$0	192 ft
2405 RIVERSIDE AVE MINNEAPOLIS MN 55454	AUGSBURG UNIVERSITY	COMMERCIAL-PREFERRED	$0	225 ft
2309 RIVERSIDE AVE MINNEAPOLIS MN 55454	FAIRVIEW HOSP/HEALTHCARE SRV	LAND-COMMERCIAL	$170,600	266 ft
2324 BUTLER PL MINNEAPOLIS MN 55454	AUGSBURG COLLEGE	LAND-COMMERCIAL	$0	340 ft
2406 RIVERSIDE AVE MINNEAPOLIS MN 55454	FAIRVIEW HOSP/HLTHCARE SERV	COMMERCIAL-PREFERRED	$0	346 ft

Property History

Current Tax Year

Year2026

Tax Due$4,995