1604 1ST AVE S MINNEAPOLIS MN 55403

PID: 2702924420058

Property Overview

Parcel ID2702924420058

Lot Size187 sq ft (0.004 ac)

Lot Dimensions (est.)140 ft wide × 1 ft deep

Year Built0

Property ClassLAND-COMMERCIAL

OwnerCENTRAL COMMNTY HSG TRST/MPL

Assessed Value$3,000

Land Value$3,000

Building Value$0

Annual Tax$66

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

Loring Park · Minneapolis

Median reported rent1,142/mo

Renter-occupied85.7%

Median home value$251K

Vacancy rate10.3%

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

Source: 2022 ACS 5-Year Estimates · Census Tract 1052.04

Market Snapshot

Zip code 55403

Median sale price$315K+32.9% YoY

Median price / sqft$205/sqft

Median days to close111 days

Active listings62

Source: Redfin Data Center (Invalid Date) · Zip 55403

Zoning

DT1Downtown Center

Downtown Center 1 — urban core district

Typical Uses

·Office towers
·Hotels
·High-rise residential
·Entertainment
·Retail

Development Potential

Setbacks

Front0 ft

Side (each)0 ft

Rear0 ft

Estimated Buildable Footprint

Buildable width140 ft

Buildable depth1 ft

Area~140 sqft

Estimates based on typical zoning setbacks. Actual requirements may vary by lot, overlay, or conditional approval.

Development Feasibility

No buildable area could be estimated under current zoning setbacks. The lot may be too small or the setbacks consume the entire parcel.

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Nearby Parcels

Address	Owner	Class	Assessed Value	Distance
1600 1ST AVE S MINNEAPOLIS MN 55403	YOUTH HOUSING LTD PTNSHP	APARTMENT	$0	35 ft
9 16TH ST E MINNEAPOLIS MN 55403	FUENTES LLC	COMMERCIAL-PREFERRED	$0	84 ft
1520 1ST AVE S MINNEAPOLIS MN 55403	JAMES D WOELM	LAND-COMMERCIAL	$252,200	144 ft
1601 NICOLLET AVE MINNEAPOLIS MN 55403	FUENTES LLC	LAND-COMMERCIAL	$0	154 ft
1523 NICOLLET AVE MINNEAPOLIS MN 55403	JAMES D WOELM	COMMERCIAL-PREFERRED	$571,700	172 ft
15 15TH ST E MINNEAPOLIS MN 55403	JAMES D WOELM	LAND-COMMERCIAL	$169,500	184 ft
1515 NICOLLET AVE MINNEAPOLIS MN 55403	WOELM LLC	COMMERCIAL-PREFERRED	$600,700	217 ft
1508 1ST AVE S MINNEAPOLIS MN 55403	CITY OF MPLS MUNICIPAL CORP	LAND-COMMERCIAL	$0	232 ft
1509 NICOLLET AVE MINNEAPOLIS MN 55403	CITY OF MPLS MUNICIPAL CORP	LAND-COMMERCIAL	$0	269 ft
1501 NICOLLET AVE MINNEAPOLIS MN 55403	CITY OF MPLS	LAND-COMMERCIAL	$0	319 ft

Property History

Most Recent Sale

Date200706

Price$900

TypePROBATE DEED

Current Tax Year

Year2026

Tax Due$66