This station is located on the northwest corner of the intersection of 46th Street and Minnesota State Highway 55 (Hiawatha Avenue), in the Ericsson neighborhood.

46th Street Station is one of the main bus interchanges on the Blue Line in Minneapolis.

[3][4] Between 2019 and 2024, six apartment buildings were built within a .5 miles (0.80 km) that offered a total of 500 units.

The area is one of the few places on the Blue Line outside of downtown that has seen significant development of housing.

[6] HOURCAR, a local carsharing program, has a solar-powered charging station at 46th Street for the organization's fleet of plug-in Toyota Priuses.