72 GROVELAND TER MINNEAPOLIS MN 55403

PID: 2802924410037

Property Overview

Parcel ID2802924410037

Lot Size19,716 sq ft (0.453 ac)

Lot Dimensions (est.)105 ft wide × 187 ft deep

Year Built1908

Property ClassRESIDENTIAL

OwnerR K MOSTROM & M MOSTROM

Assessed Value$1,927,000

Land Value$417,000

Building Value$1,510,000

Annual Tax$35,797

Environmental Constraints

FloodplainNo

WetlandsNone detected

Historic DistrictNo

Development Opportunities

High-Frequency Transit (5-min walk)High

Within a 5-minute walk of a high-frequency LRT or BRT stop — a positive factor for density bonuses and Met Council Livable Communities grant scoring.

Metro Council — Livable Communities ↗

Potential programs

Met Council Livable Communities GrantMedium

Competitive grants for affordable housing and transit-oriented development near high-frequency transit; proximity to LRT/BRT is a key scoring factor.

Metro Council — Livable Communities ↗

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

Permit History

3 permits on record since 2004 · $321K total declared value · Most recent: May 2026 (misc)

MiscMay 2026Final Inspection

$21K

SCHERER BROTHERS LUMBER CO

ExistresJun 2022Closed

Pronto Heating & Air Conditioning Inc

Building Re-inspectionMar 2004

$300K

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

Neighborhood Profile

Lowry Hill · Minneapolis

Median reported rent1,289/mo

Renter-occupied58.6%

Median home value$620K

Vacancy rate3.3%

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

Source: 2022 ACS 5-Year Estimates · Census Tract 1055

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

UN2Urban Neighborhood 2

Urban Neighborhood 2 — moderate-density residential

Typical Uses

·Duplexes
·Triplexes
·Small apartment buildings (≤4 units)

Max Height35 ft

Development Potential

Setbacks

Front20 ft

Side (each)5 ft

Rear20 ft

Estimated Buildable Footprint

Buildable width95 ft

Buildable depth148 ft

Area~14,059 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 small multifamily (2–4 units, wood frame) benchmarks for 14,059 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
76 GROVELAND TER MINNEAPOLIS MN 55403	K A MURPHY & T S MURPHY	RESIDENTIAL	$901,700	70 ft
80 GROVELAND TER MINNEAPOLIS MN 55403	CHARLES W QUAINTANCE & WIFE	RESIDENTIAL	$613,100	108 ft
66 GROVELAND TER MINNEAPOLIS MN 55403	HERRICK FAMILY PARTNERS LTD	RESIDENTIAL	$1,550,000	110 ft
411 KENWOOD PKWY MINNEAPOLIS MN 55403	NORTHRUP COLLEGIATE SCHOOL	COMMERCIAL-PREFERRED	$0	152 ft
64 GROVELAND TER MINNEAPOLIS MN 55403	J LADNER/T VANSTEENBURGH	RESIDENTIAL	$1,335,100	197 ft
1650 DUPONT AVE S MINNEAPOLIS MN 55403	J CHRISTAKOS & D CHRISTAKOS	RESIDENTIAL	$2,835,000	249 ft
58 GROVELAND TER MINNEAPOLIS MN 55403	J & R MASON JR	RESIDENTIAL	$1,663,000	278 ft
1014 MOUNT CURVE AVE MINNEAPOLIS MN 55403	E A GARTLAND & M M BREEN	RESIDENTIAL	$1,917,000	339 ft
90 GROVELAND TER MINNEAPOLIS MN 55403	DONNA K PETERSON IRREV TRUST	RESIDENTIAL	$1,165,000	363 ft
1601 NORTHROP LA MINNEAPOLIS MN 55403	YOSHITO NOMURA/SARAH NOMURA	RESIDENTIAL	$1,299,000	392 ft

Property History

Most Recent Sale

Date201702

Price$1,800,000

TypeWARRANTY DEED

Current Tax Year

Year2026

Tax Due$35,797