Your AI Navigator in Commercial Real Estate
Sign Up Successful!
You now have access to more from Realmo!
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search

    985 Payne Ave Saint Paul, MN 55130

    For Sale
    $400,000

    Commercial - Saint Paul, MN

    Lot size:
    0.05 Acres
    Days on Market:
    20
    Last Refresh:
    Dec 7 at 3:06 pm

    Property Features for 985 Payne Ave

    General Information

    Property type
    Commercial Sale
    Property subtype
    Other
    Standard status
    Active
    Zoning
    Business/Commercial,Residential-Multi-Family
    APN
    292922130156
    Exterior features
    Brick/Stone
    Lot size
    0.05 Acres

    Building Details

    Year built
    1917
    Architectural style
    Other

    Keller Williams Premier Realty (651) 379-5252 [email protected]

    Listing agent William Schultz (651) 379-5252

    Listing date Nov 18, 2025

    MLS# 6806885 Listing URL

    Copyright © 2025 Regional Multiple Listing Service of Minnesota [NorthStarMLS]. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    Overview

    Mixed-Use Investment in Payne-Phalen

    Located in the Payne-Phalen corridor, this four-unit mixed-use property offers an investment opportunity. The property includes one commercial space and two residential units. The commercial space is approximately 1,510 square feet with an additional 1,500 square feet of finished basement space that can be used for storage or converted into leasable areas. The two residential units feature tall ceilings and flexible layouts. The property is located along Payne Avenue, which is undergoing redevelopment, including the Hamm’s Brewery revitalization project and the Latino Economic Development Center’s renovation that will introduce a new event center, commercial kitchen, restaurants, and retail destinations to the area. This property offers the opportunity to participate in the neighborhood’s next chapter while building long-term equity through strategic upgrades and rental optimization. The property is zoned for Business/Commercial and Residential-Multi-Family use and is situated on a lot of approximately 0.052 acres.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Retail space

    Suggested Use

    Realty agency Law Firm Restaurant Spa & Massage Dental Office Hair Salon Nail Salon Clothing Store Building Supply Gym & Fitness

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Saint Paul
    County
    Dakota
    State
    Minnesota
    Longitude
    -93.073937
    Latitude
    44.970866

    Nearby Similar for Sale

    • $925,000
      0.14 Acres

      Grand Avenue Professional Office Building

      Well-maintained three-level commercial building on historic Grand Avenue.
      951 Grand Ave, Saint Paul, MN 55105
      View Details
    • New
      $799,900
      0.18 Acres

      Saint Paul Multifamily Investment

      Updated multifamily property in Ramsey Hill, Saint Paul.
      609 Portland Ave, Saint Paul, MN 55102
      View Details
    • $775,000
      0.77 Acres

      Eagan Commercial Building with Exposure

      Well-maintained commercial building with high visibility and ample parking.
      3345 Lexington Ave S, Saint Paul, MN 55121
      View Details
    • New
      $769,900
      0.14 Acres

      Remodeled Mid-Century Office Building

      Remodeled office building in the heart of the West Side.
      711 Smith Ave S, Saint Paul, MN 55107
      View Details
    • $800,000
      0.11 Acres

      Eastside Bar & Lounge Opportunity

      Established bar with apartment in revitalizing Saint Paul location.
      1112 Arcade St, Saint Paul, MN 55106
      View Details
    • $625,000

      Remodeled Condo/Event Space in St. Paul

      Remodeled condo/event space in historic Rossmor building, downtown St. Paul.
      125 9Th St E, Saint Paul, MN 55101
      View Details

    FAQs

    What type of property is this?
    Mixed-use property - Four-unit property with commercial space and residential units.
    Where is this mixed-use property located?
    The property is located at 985 Payne Ave Saint Paul, MN.
    What is the asking price?
    The asking price for this property is $400,000.
    What are key features of this property?
    This property features: - Mixed-use property with commercial and residential units offering multiple income streams.; - Located in the rapidly growing Payne-Phalen corridor, benefiting from significant redevelopment projects.; - **Large commercial space (1,510 sq ft) with additional 1,500 sq ft finished basement**, offering potential for subdivision or additional leasable area.
    (651) 379-5252
    Request Owner's contact information
    985 Payne Ave Saint Paul, MN 55130
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    985 Payne Ave
    Saint Paul, MN 55130
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    985 Payne Ave Saint Paul, MN 55130
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Google sign-in failed. Please try again or use another login method.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.