601 5TH AVE S MINNEAPOLIS MN 55415

PID: 2602924220449

Property Overview

Parcel ID2602924220449

Lot Size66,220 sq ft (1.520 ac)

Lot Dimensions (est.)387 ft wide × 171 ft deep

Year Built2019

Property ClassCOMMERCIAL-PREFERRED

Owner600 PAS TIC 1 LLC ET AL

Assessed Value$36,570,000

Land Value$5,601,500

Building Value$30,968,500

Annual Tax$1,297,253

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

No permits found in Minneapolis open data for this parcel.

Neighborhood Profile

Elliot Park · Minneapolis

Median reported rent965/mo

Renter-occupied70.9%

Median home value$419K

Vacancy rate9.0%

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

Source: 2022 ACS 5-Year Estimates · Census Tract 1054

Market Snapshot

Zip code 55415

Median sale price$450K-10.9% YoY

Median price / sqft$376/sqft

Median days to close145 days

Active listings51

Source: Redfin Data Center (Invalid Date) · Zip 55415

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 width387 ft

Buildable depth171 ft

Area~66,177 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
1 ADDRESS PENDING MINNEAPOLIS MN 00000	MOMENT MINNEAPOLIS LLC	APARTMENT	$44,110,000	170 ft
1 ADDRESS PENDING MINNEAPOLIS MN 00000	FIREFIGHTERS FOR HEALING	APARTMENT	$0	196 ft
600 5TH AVE S MINNEAPOLIS MN 55415	625 PARKING LLC	COMMON AREA	$0	332 ft
600 5TH AVE S MINNEAPOLIS MN 55415	FLT SORA LLC	APARTMENT	$950,000	332 ft
600 5TH AVE S MINNEAPOLIS MN 55415	FLT SORA LLC	APARTMENT	$14,910,000	332 ft
600 5TH AVE S MINNEAPOLIS MN 55415	625 PARKING LLC	COMMERCIAL-PREFERRED	$5,370,000	332 ft
600 5TH AVE S MINNEAPOLIS MN 55415	625 PARKING LLC	COMMON AREA	$0	332 ft
600 5TH AVE S MINNEAPOLIS MN 55415	625 PARKING LLC	COMMON AREA	$0	332 ft
600 5TH AVE S MINNEAPOLIS MN 55415	625 PARKING LLC	COMMON AREA	$0	332 ft
600 5TH AVE S MINNEAPOLIS MN 55415	FLT SORA LLC	COMMERCIAL-PREFERRED	$60,000	332 ft

Property History

Most Recent Sale

Date202102

Price$130,000,000

TypeOTHER – SEE CERTIFICATE OF REAL ESTATE VALUE (CRV)

Current Tax Year

Year2026

Tax Due$1,297,253