There is a growing interest in the Lean Thinking (LT) principles due to the high levels of waste in construction. Value Stream Mapping (VSM) is as an important tool for a systematic implementation of the LT. Few studies have addressed the application of VSM for improvements related to the execution of structural masonry, therefore this article presents an exploratory case study that aims to propose improvements for this process. Data was collected in a residential project, where the execution of structural masonry is the activity of greatest impact in the budget and schedule. From field observations, interviews and analysis of administrative documentation, the VSM of the current state was elaborated and analyzed through the LT. Improvements in the future VSM focused mainly in the elimination of transport and excess (inventory) wastes. A reduction of 45.5% in cycle time and an increase in Value Aggregation Time (VAT) from 32.45 to 60.55% is estimated. The VSM provided a systemic view of the value chain of the process, facilitating the identification of wastes, their origin and the proposition of improvements.