Industrial Warehouse
747 Payne Ave Saint Paul, MN 55130
747 Payne Ave, Saint Paul, MN, 55130
Contact for pricing
For Sale
Contact for pricing
Standalone industrial building with multiple spaces, off-street parking, and updated lighting, HVAC, and building systems.
Property Size8,333 SF
Lot Size0.18 Acres
Price / SF$172.93
Days on Market146
Property Features for 747 Payne Ave
General Information
- Standard status
- Active
- Size
- 8,333 SF
- Lot size
- 0.18 Acres
- Property subtype
- Industrial, Retail
Listing agency
Commercial Equities Group Inc
(612) 788-1552
Listed by
Jeff Salzbrun · License #MN
Source
Crexi
Added: Feb 25 Updated: Jul 20 at 5:54PM Checked: Jul 21 at 6:21AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Commercial Equities Group Inc
Investment Insights
Based on property information with market context.
Standalone cinder block and brick industrial commercial building with off-street parking. The property includes several configured spaces, including heated Space 1 with a white EPDM membrane roof (barrel roof) and clear height of 11’ to the bottom of the truss and 17’ to the roof deck, plus a 9’9” x 9’9” drive-in door, restroom, and 3-phase power. Space 2 is non-heated with a new shingle roof (to be completed in 2026), a 9’9” x 10’9.1” loading dock, 12’ clear height, and 220 amp service with backup generator. Space 3 is non-heated with an access ramp and storage area. Space 4 is heated and includes HVAC location plus a utility sink and restroom.
Recent updates include LED lighting and steel entry doors, updated HVAC in 2024, interior and exterior paint, and new windows added in October 2023 with additional windows planned for February 2026. The fenced-in back area could support additional parking.
The heated and non-heated configurations provide varied clear heights and door/dock options, with three-phase power serving the heated space and 220 amp service with backup generator in the non-heated docked space.
Recent updates include LED lighting and steel entry doors, updated HVAC in 2024, interior and exterior paint, and new windows added in October 2023 with additional windows planned for February 2026. The fenced-in back area could support additional parking.
The heated and non-heated configurations provide varied clear heights and door/dock options, with three-phase power serving the heated space and 220 amp service with backup generator in the non-heated docked space.
Key Highlights
- Standalone industrial building on 0.1787 acres with off‑street parking and fenced back area for potential additional parking
- Space 1: heated with 9'3"x9'9" drive‑in door, restroom, and 3‑phase power
- Space 1 roof: white EPDM membrane adhered 2026; 11' clear to bottom of truss and 17' to roof deck
Local Financial Insights For Warehouse
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $135.0k | $16.20 |
| − Vacancy | −$5.7k | −$0.68 |
| EGI | $129.3k | $15.52 |
| − OpEx | −$19.4k | −$2.33 |
| NOI | $109.9k | $13.19 |
8,333 SF · lease $16.20/SF/yr · vacancy 4.20% · expense 15.00%
Alternative Uses
Best Use
Warehouse
$1.57M
$1.37M – $1.83M
NOI $109,926 @ 7.0% cap · market cap 7.63%
Second Best
—
—
no second resolved use
Theoretical Best
Healthcare Medical
$2.05M
$1.79M – $2.39M
NOI $143,544 @ 7.0% cap · market cap 9.96%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Warehouses
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FAQs
What type of property is this?
Warehouse - Standalone industrial building with multiple spaces, off-street parking, and updated lighting, HVAC, and building systems.
Where is this warehouse located?
The property is located at 747 Payne Ave Saint Paul, MN.
What is the asking price?
The asking price for this property is $1,441,000.
What are key features of this property?
This property features: Standalone industrial building on 0.1787 acres with off‑street parking and fenced back area for potential additional parking; Space 1: heated with 9'3"x9'9" drive‑in door, restroom, and 3‑phase power; Space 1 roof: white EPDM membrane adhered 2026; 11' clear to bottom of truss and 17' to roof deck
