For Sale: Minneapolis MLS# 7056708
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Property Description
Rare Southwest Minneapolis development opportunity at 5020 Xerxes Ave S. This 42’ x 128’ paved commercial lot (approx. 5, 376 SF) offers exceptional potential in one of Minneapolis’ most desirable urban neighborhoods. Currently utilized as a parking lot, the site presents a clean, redevelopment-ready footprint with no structural demolition required, creating immediate appeal for developers seeking a faster path to entitlement and construction.
Positioned just steps from West 50th Street transit connections, the property enjoys excellent accessibility via Metro Transit Routes 36 and 46, with direct service north to Uptown and south to Southdale and surrounding employment centers.
The lot is ideally suited for its highest and best use as boutique mixed-use, live/work, small multifamily, or premium residential infill, subject to zoning verification with the City of Minneapolis zoning maps. The surrounding corridor supports a vibrant blend of neighborhood retail, office, and residential uses, making this a compelling opportunity for a 2–3 story mixed-use concept with street presence and upper-level residential units.
Located in a highly walkable Southwest Minneapolis node near neighborhood services, retail, dining, and established residential demand, this is an ideal acquisition for a local infill developer, boutique builder, or owner-user investor seeking a strategic foothold in a supply-constrained market.
Listing
Listing Status:
Active
Contingency:
None
List Price:
$549,000
Property Type:
Lot/Land
City:
Minneapolis
County:
Hennepin
State:
MN
Property Style:
Lot/Land
Zip Code:
55410
Neighborhood/Area:
28
Subdivision Name:
Steeles Lake Harriet Park Add
Exterior
Road Responsibility:
Public Maintained Road
Road Frontage:
- City Street
- County Road
Lot & Land
Acres:
0.123
Geolocation:
44.911707, -93.319218
Inclusions:
Other
Lot Dimensions:
42 x 128
Restrictions:
Open
Zoning:
Other
Lot Description:
Public Transit (w/in 6 blks)
Farm
Topography:
Level
Schools
School District:
558
District Phone:
6126680000
Financial & Taxes
Tax Year:
2026
Annual Taxes:
$7,430
Lender-owned:
No
Assessment Pending:
No
Taxes w/ Assessments:
$7,430
Association Fee Required:
No
Association Fee:
None
Miscellaneous
Development Status:
Finished Lot(s)
Improvements:
Fence
Available Utilities:
- None Connected
- Other Available
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Local Home Mortgage Professionals
Eric Bloomstrand
Branch Sales Manager
Fairway Home Mortgage NMLS#274211
612-961-2600
Eric Bloomstrand is a Branch Sales Manager at Fairway Home Mortgage with 30+ years of experience in the mortgage banking services industry. Eric has extensive skills in construction loans, FHA financing, VA loans, USDA, and first-time buyer down payment assistance programs. He is a well-qualified finance professional with a Bachelor of Science focused in Finance and Marketing from Minnesota State University, Mankato. Helping individuals acquire their dream home is his passion.
Connect with Eric today to get started with your home purchase!
Listing provided by RMLS,
courtesy of Keller Williams Realty Integrity Lakes.
Disclaimer: The information contained in this listing has not been verified by TheMLSonline.com and should be verified by the buyer.
Disclaimer: The information contained in this listing has not been verified by TheMLSonline.com and should be verified by the buyer.