315 1ST AVE N E MINNEAPOLIS MN 55413

PID: 2302924120247

Property Overview

Parcel ID2302924120247

Lot Size137,224 sq ft (3.150 ac)

Lot Dimensions (est.)515 ft wide × 267 ft deep

Year Built2016

Property ClassAPARTMENT

OwnerVA8 NORDHAUS LLC

Assessed Value$72,110,000

Land Value$5,875,200

Building Value$62,643,700

Annual Tax$1,423,730

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 ↗

Potentially 4d-Eligible PropertyMedium

Property type suggests multifamily rental use — may qualify for the Minneapolis 4d program, which reduces property taxes to ~0.25% in exchange for affordability commitments. Requires 3+ units and a current rental license.

Minneapolis — 4d Affordable Housing Incentive ↗

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

No permits found in Minneapolis open data for this parcel.

Neighborhood Profile

Nicollet Island - East Bank · Minneapolis

Median reported rent1,674/mo

Renter-occupied50.5%

Median home value$467K

Vacancy rate12.7%

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

Source: 2022 ACS 5-Year Estimates · Census Tract 1036

Market Snapshot

Zip code 55413

Median sale price$360K+9.7% YoY

Median price / sqft$228/sqft

Median days to close42 days

Active listings22

Source: Redfin Data Center (Invalid Date) · Zip 55413

Zoning

CM3Community Mixed Use

Property History

Most Recent Sale

Date202406

Price$74,250,000

TypeOTHER – SEE CERTIFICATE OF REAL ESTATE VALUE (CRV)

Current Tax Year

Year2026

Tax Due$1,423,730

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
324 1ST AVE N E MINNEAPOLIS MN 55413	US BANK NATIONAL ASSOCIATION	COMMERCIAL-PREFERRED	$1,375,000	304 ft
221 1ST AVE N E MINNEAPOLIS MN 55413	JEFFREY C MEEHAN	TOWNHOUSE	$543,600	318 ft
221 1ST AVE N E MINNEAPOLIS MN 55413	J P MALONEY & B O'BRIEN	TOWNHOUSE	$645,000	319 ft
221 1ST AVE N E MINNEAPOLIS MN 55413	RACHEL L KLING	TOWNHOUSE	$637,400	319 ft
221 1ST AVE N E MINNEAPOLIS MN 55413	TREVOR KEELER	TOWNHOUSE	$590,500	321 ft
221 1ST AVE N E MINNEAPOLIS MN 55413	MICHELLE CHU & ANDREW GRUET	TOWNHOUSE	$569,700	322 ft
316 1ST AVE N E MINNEAPOLIS MN 55413	303 EAST HENNEPIN LTD PTNRSP	LAND-COMMERCIAL	$337,900	324 ft
221 1ST AVE N E MINNEAPOLIS MN 55413	DARLA JOANNE TUFTO	TOWNHOUSE	$652,700	324 ft
221 1ST AVE N E MINNEAPOLIS MN 55413	REBECCA ANNE FUDGE	TOWNHOUSE	$653,700	324 ft
221 1ST AVE N E MINNEAPOLIS MN 55413	MICHAEL P GATES	TOWNHOUSE	$559,900	325 ft