531 PHALEN BLVD

PID: 292922340155· 2 fields stubbed (see below)

Property Overview

Parcel ID292922340155

Lot Size3,920 sq ft (6.040 ac)

Lot Dimensions (est.)780 ft wide × 5 ft deep

Year Built2005

Property ClassCONDOMINIUM WAREHOUSE

OwnerEVOLUTION PET FOOD/WEISMAN INSTITUTE OF

Assessed Value$687,300

Land Value$87,500

Building Value$599,800

Annual Tax—(stub)

Environmental Constraints

FloodplainNo

WetlandsNone detected

Historic DistrictNo

Development Opportunities

Opportunity ZoneHigh

Within a federally designated Qualified Opportunity Zone — investors may qualify for capital gains deferrals via a Qualified Opportunity Fund.

HUD Opportunity Zones ↗

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

Saint Paul STAR Grants & LoansMedium

Saint Paul's Sales Tax Revitalization (STAR) program provides grants and loans for commercial, mixed-use, and neighborhood improvement projects. Applications accepted annually.

Saint Paul — STAR Program ↗

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 ↗

Met Council Environmental Response FundMedium

Grants and loans for contamination assessment and cleanup on eligible redevelopment sites in the metro area; does not indicate known contamination.

Metro Council — Environmental Response Fund ↗

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

Permit History

No permits found in Saint Paul open data for this parcel.

Neighborhood Profile

Payne-Phalen District 5 Planning Council · Saint Paul

Median reported rent1,058/mo

Renter-occupied53.8%

Median home value$188K

Vacancy rate5.6%

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

Source: 2022 ACS 5-Year Estimates · Census Tract 315

Zoning

I1Light Industrial

Light Industrial — low-impact manufacturing and warehousing

Typical Uses

·Light manufacturing
·Warehousing
·Bus/rail facilities
·Gun shops
·Food production

Max Height50 ft

Min Setbacks

Front

0 ft

Side

0 ft (6 ft if adj. residential)

Rear

0 ft (6 ft if adj. residential)

Development Potential

Setbacks

Front15 ft

Side (each)0 ft

Rear0 ft

Estimated Buildable Footprint

Buildable width780 ft

Buildable depth0 ft

Area~229,900 sqft

Lot dimensions are insufficient for the standard setbacks shown.

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 mid-rise concrete (50+ units) benchmarks for 229,900 sqft buildable area.

Est. units

2299

Yield on cost

2.6%

Spread

-2.9%

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Nearby Parcels

Address	Owner	Class	Assessed Value
533 PHALEN BLVD	533 PHALEN PARTNERS LLC	CONDOMINIUM WAREHOUSE	$707,600
537 PHALEN BLVD	PHALEN WESTMINSTER CROSSING LLC	CONDOMINIUM WAREHOUSE	$610,000
545 PHALEN BLVD	LKT PROPERTY LLC	CONDOMINIUM WAREHOUSE	$673,400
563 PHALEN BLVD	LUZERAS LLC	CONDOMINIUM WAREHOUSE	$1,434,200
539 PHALEN BLVD	EVERGREEN HOLDING GROUP LLC	CONDOMINIUM WAREHOUSE	$801,500
521 PHALEN BLVD	RMD MICHELPROPERTIES	CONDOMINIUM WAREHOUSE	$2,191,600
547 PHALEN BLVD	LKT PROPERTY LLC	CONDOMINIUM WAREHOUSE	$831,500
551 PHALEN BLVD	JOT INVESTMENTS LLC	CONDOMINIUM WAREHOUSE	$746,200
553 PHALEN BLVD	ESCH PROPERTIES LLC	CONDOMINIUM WAREHOUSE	$638,300
561 PHALEN BLVD	ESCH PROPERTIES LLC	CONDOMINIUM WAREHOUSE	$664,700

Property History

Most Recent Sale

Date2022-07-21

Price$625,000

Type—

Stub notice: The following fields could not be fetched from live sources and are shown as "—": taxHistory, taxAmount. See README for details on which sources are live vs. stubbed.