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 Courtesy of: Keller Williams Realty Integrity Lakes
612-270-5234
Buyer Represented by: Rize Realty
| Listing Id: | 7056708 |
|---|---|
| List Price: | $549,000 |
| Close Price: | $500,000 |
| Close Date: | 2026-09-25 |
| Property Type: | Land |
| Status: | Closed |
| Bathrooms Full: | 0 |
| Bathrooms Three Quarter: | 0 |
| Bathrooms Half: | 0 |
| Bathrooms One Quarter: | 0 |
| Association Fee: | $0 |
| Tax Annual Amount: | $7,430 |
| Waterfront?: | No |
| City: | Minneapolis |
| Neighborhood: | 28 |
| County Or Parish: | Hennepin |
| Subdivision Name: | Steeles Lake Harriet Park Add |
| Postal Code: | 55410 |
| Basement: | No |
| Development Status: | Finished Lot(s) |
| Directions: | South on Xerxes Ave S. from W. 50th St. |
| High School District: | Minneapolis |
| Inclusions: | Other |
| Listing Contract Date: | 2026-04-16 |
| Living Area Units: | Square Feet |
| Lot Features: | Public Transit (w/in 6 blks) |
| Lot Size Area: | 5376 |
| Lot Size Dimensions: | 42x128 |
| Lot Size Units: | Square Feet |
| Assessment Pending: | No |
| Foreclosure Status: | No |
| Fractional Ownership Yn: | No |
| Improvements: | Fence |
| Lender Owned: | No |
| Potential Short Sale: | No |
| Yearly/Seasonal: | Yearly |
| All Program Acres: | 0 |
| Restrictions/Covenants: | Open |
| School District Number: | 1 |
| School District Phone: | 6126680000 |
| Tax With Assessments: | $7,430 |
| Parcel Number: | 1702824310069 |
| Postal City: | Minneapolis |
| Public Survey Range: | 24 |
| Public Survey Section: | 17 |
| Public Survey Township: | 28 |
| Road Frontage Type: | City Street, County Road |
| Road Responsibility: | Public Maintained Road |
| State Or Province: | MN |
| Tax Year: | 2026 |
| Topography: | Level |
| Utilities: | None Connected, Other Available |
| Zoning Description: | Other |
| Township: | Minneapolis |
| Development Amenity Type: | No |
| Pending Timestamp: | 2026-09-25 |
| School District Full Name: | 1 - Minneapolis |
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Regional Multiple Listing Service of Minnesota, Inc data last updated on October 08, 2026 04:16 PM - CT
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Property Last Updated: October 08, 2026 04:16 PM - CT
